The Cayman Islands Monetary Authority has published its latest captive figures for the second quarter of 2023, showing an increase in pure captives and segregated portfolio companies (SPCs) compared to its 2022 year-end figures.
The number of pure captives domiciled in Cayman is now 281, an increase of four compared to 2022.
There were 155 SPCs in Cayman at the end of 2022, with this number dropping to 153 during the first quarter of 2023, before a further two were added in Q2 to bring the total back to 155.
The number of group captives has remained steady at 127. There was a drop off by one in the first quarter, with one new licenced last quarter.
Pure captives in Cayman are now writing $4,252,138,860 in total premium, while group captives are writing $3,645,978,371. SPCs are responsible for $2,700,382,688 in premium.
Assets under management (AuM) totals $18,740,592,193 for pure captives, $10,541,990,658 for groups and $10,718,644,872 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.