The Cayman Islands Monetary Authority has published its captive figures for the first quarter of 2024, showing growth in the number of pure captives, segregated portfolio companies (SPCs) and group captives.
The number of pure captives domiciled in Cayman is now 288, an increase of two compared to year-end 2023.
There were 154 SPCs at year-end 2023, with the number rising to 157 in Q1 2024.
The number of group captives has now increased by two to 129.
Pure captives in Cayman are now writing $5.4bn in total premium, while group captives are writing $4.8bn. SPCs are responsible for $4.5bn in premium.
Assets under management (AuM) totals $20.8bn for pure captives, $13.5bn for groups and $15.2bn for SPCs.
Captive Intelligence’s data on the number of captives shows that there was a total of 41 new captive formations in the Cayman Islands in 2023, which took the total number of captives in the domicile to 567 at year-end.