Insurance and financial services in Cayman Islands
Cayman Islands: Insurance and financial services was 55.2% in 2024. ▲ Rising
Insurance and financial services in Cayman Islands, 2016–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service exports.
Analysis
In 2024, insurance and financial services in Cayman Islands stood at 55.2%.
The figure is down 0.4% on the previous year and up 5.6% over ten years.
Over the whole period, insurance and financial services in Cayman Islands peaked at 67.8% in 2021 and was at its lowest, 51.3%, in 2019.
That places Cayman Islands 4th out of 190 countries with data for 2024, putting it in the top 10%.
Insurance and financial services in Cayman Islands, year by year
| Year | % of commercial service exports | Change |
|---|---|---|
| 2016 | 52.3% | — |
| 2017 | 52.7% | +0.8% |
| 2018 | 52.1% | -1.1% |
| 2019 | 51.3% | -1.5% |
| 2020 | 63.3% | +23.4% |
| 2021 | 67.8% | +7.1% |
| 2022 | 57.2% | -15.6% |
| 2023 | 55.4% | -3.2% |
| 2024 | 55.2% | -0.4% |
Cayman Islands compared with similar countries
- Cayman Islands's 55.2% is above the median for high income countries, which is 5.3%, 10.4× the median. (69 countries reporting)
- Cayman Islands's 55.2% is above the median for Latin America & Caribbean, which is 2.7%, 20.3× the median. (35 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 52.1% | 51.3% | 52.7% | 4 |
| 2020s | 59.8% | 55.2% | 67.8% | 5 |
Countries ranked near Cayman Islands
- 1 Libya 96.1% compare
- 2 Liberia 71.7% compare
- 3 Luxembourg 60.1% compare
- 5 Sierra Leone 32.7% compare
- 6 Bahrain 31.3% compare
- 7 Hong Kong, China 26.9% compare
More private sector data for Cayman Islands
- Merchandise trade 26.4% (2024)
- Food imports 21.3% (2024)
- Manufactures imports 58.8% (2024)
- Merchandise imports 2.11 billion current US$ (2025)
- Food exports 3.8% (2024)
- Manufactures exports 26.0% (2024)
- Merchandise exports 25.00 million current US$ (2025)
- Merchandise exports (current US$), per capita 329.62 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.0088 current US$ per US$ of GDP (2024)
- Merchandise exports (current US$), annual growth rate -63.24 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Cayman Islands?
- Insurance and financial services in Cayman Islands was 55.2% in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Cayman Islands?
- The highest recorded value was 67.8% in 2021.
- What is the lowest insurance and financial services recorded in Cayman Islands?
- The lowest recorded value was 51.3% in 2019.
- How does Cayman Islands rank for insurance and financial services?
- Cayman Islands ranks 4th out of 190 countries with data for 2024.
- Is insurance and financial services rising or falling in Cayman Islands?
- Over the last ten years it is up 5.6%. The long-run trend across the full record is rising.
- Where does this Cayman Islands data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Insurance and financial services (% of commercial service exports). Statizoid updates them automatically from the source API.
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About this data
Financial services covers services related to financial intermediation, financial risk management, liquidity transformation or auxiliary financial activities. It also includes insurance and pension scheme services which are services related to providing life insurance and annuities, non-life insurance, reinsurance, pensions, standardised guarantees and auxiliary services to insurance, pension schemes, and standardised guarantee schemes. This indicator is expressed as a percentage of service exports which are commercial services provided by residents to non-residents.