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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Cayman Islands' non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in the Cayman Islands' insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Cayman Islands' non-life (P&C) market as well as trends by line of business. Axco analysts also report on the Cayman Islands' economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes the Cayman Islands' insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in the Cayman Islands, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in the Cayman Islands, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in the Cayman Islands with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
The insurance industry in the Cayman Islands comprises two distinct sectors: the domestic market and the international, or captive segment. The domestic market consists of a small number of Class A insurers permitted to carry on insurance business in or from the Cayman Islands as well as insurance brokers and agents, whilst the international segment is represented by 652 international Class B, C and D insurers, as at 31 December 2020, mainly comprising captive insurers - along with special purpose vehicles (SPVs) and open market insurers licensed to write ....
This is a brief extract of information; more updated information may be available in the latest published report