The Cayman Islands added 24 new captives in the first half of2013, bringing the total number of licensed captives in thedomicile to 750 as of June 30.
|20 captives were licensed in the same period last year,contributing to a total of 53 licensed in 2012.
|The Insurance Managers Association of Cayman (IMAC) states that2012 was a year of “tremendous growth” for its captives industry,in which Cayman received its highest number of applications sincethe hard market of 2004.
|Medical Malpractice Liability is Cayman's largest line ofcaptives business, making up 33.8 percent of companies by the endof June 2013, followed by Workers' Compensation at 20.8percent.
|North American companies form more than 90 percent of Cayman'scaptives business, which reported $13.5 billion in total premiumsin the first half of 2013, a 52 percent increase from $8.9 billionin the first half of 2012.
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