The Cayman Islands Monetary Authority has published its captive figures for the third quarter of 2023, showing a further rise in pure captives compared to its 2022 year-end figures.
The number of pure captives domiciled in Cayman is now 284, an increase of seven compared to 2022.
There were 155 Segregated Portfolio Companies (SPCs) in Cayman at the end of 2022, with this number dropping to 153 during the first quarter of 2023.
A further two were then added in Q2 to bring the total back to 155, before declining to 154 this quarter.
The number of group captives has remained steady at 127.
Pure captives in Cayman are now writing $5.3bn in total premium, while group captives are writing $4.2bn. SPCs are responsible for $4.4bn in premium.
Assets under management (AuM) totals $21.2bn for pure captives, $12.5bn for groups and $14.9bn for SPCs.
Captive Intelligence’s data on the number of captives shows that there was a total of 33 captive formations in the Cayman Islands in 2022, which took the total number of captives in the domicile to 559 at year-end.