The Cayman Islands Monetary Authority has published its captive figures for the fourth quarter of 2023, showing a rise in pure captives compared to its 2022 year-end figures.
The number of pure captives domiciled in Cayman is now 286, an increase of nine compared to 2022. At the end of the third quarter there was 284 pure captives domiciled in Cayman.
The number of group captives has remained steady at 127, while the number of Segregated Portfolio Companies (SPCs) has also stayed the same as the third quarter at 154.
In total, Cayman has 567 active captives at the end of 2023 compared to 559 at the end of 2022.
Pure captives in Cayman are now writing $5.1bn in total premium, while group captives are writing $4.5bn. SPCs are responsible for $4.5bn in premium.
Assets under management (AuM) totals $20.3bn for pure captives, $13.1bn for groups and $15.2bn 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.