Insurance Act [Law 32 of 2010] (as amended)

CAYMAN ISLANDS Insurance Act [Law 32 of 2010] (as amended) INSURANCE (APPLICATIONS AND FEES) REGULATIONS (2026 Revision) Supplement No. 8 published with Legislation Gazette No. 7 dated 5th February, 2026. PUBLISHING DETAILS Revised under the authority of the Law Revision Act (2020 Revision). The Insurance (Applications and Fees) Regulations, 2012 made the 27th November, 2012, as amended by the Citation of Acts of Parliament Act, 2020, and consolidated with — Insurance (Applications and Fees) (Amendment) Regulations, 2013 made 3rd September, 2013 Insurance (Applications and Fees) (Amendment) Regulations, 2024 made 17th December, 2024. Consolidated and revised this 31st day of December, 2025. Page 2 Revised as at 31st December, 2025 c Insurance (Applications and Fees) Regulations (2026 Revision) Arrangement of Regulations CAYMAN ISLANDS Insurance Act [Law 32 of 2010] (as amended) INSURANCE (APPLICATIONS AND FEES) REGULATIONS (2026 Revision) Arrangement of Regulations Regulation Page 1. Citation ......................................................................................................................................5 2. Interpretation .............................................................................................................................5 3. Application for licence ................................................................................................................5 4. Fees ..........................................................................................................................................6 5. Non-insurance business ............................................................................................................7 SCHEDULE 1 9 FORMS 9 FORM 1 - APPLICATION FOR A CLASS “A” INSURER’S LICENCE - APPROVED EXTERNAL INSURER - SECTION 4 ......................................................................................................9 FORM 2 - APPLICATION FOR A CLASS “A” INSURER’S LICENCE - LOCALLY INCORPORATED - SECTION 4 ........................................................................................ 16 FORM 3 - APPLICATION FOR A CLASS “B” INSURER’S LICENCE - SECTION 4 .......................... 23 FORM 4 - APPLICATION FOR A CLASS “C” INSURER’S LICENCE - SECTION 4 .......................... 28 FORM 5 - APPLICATION FOR A CLASS “D” INSURER’S LICENCE - SECTION 4 .......................... 33 FORM 6 - APPLICATION FOR AN INSURANCE MANAGER LICENCE - SECTION 4 ..................... 40 FORM 7 - APPLICATION FOR AN INSURANCE BROKER LICENCE - SECTION 4 ........................ 45 FORM 8 - APPLICATION FOR AN INSURANCE AGENT/AGENCY LICENCE - SECTION 4 ........... 51 c Revised as at 31st December, 2025 Page 3 Arrangement of Regulations Insurance (Applications and Fees) Regulations SCHEDULE 2 56 LICENCE FEES AND ANNUAL FEES 56 PART 1 56 Application fees and annual fees relating to licensees ....................................................................... 56 PART 2 57 Application fees and annual fees relating to persons registered under the principal Act who do not require a licence to carry on insurance business ......................................................................... 57 ENDNOTES 59 Table of Legislation history: ............................................................................................................... 59 Page 4 Revised as at 31st December, 2025 c Insurance (Applications and Fees) Regulations (2026 Revision) Regulation 1 CAYMAN ISLANDS Insurance Act [Law 32 of 2010] (as amended) INSURANCE (APPLICATIONS AND FEES) REGULATIONS (2026 Revision) 1. Citation 1. These Regulations may be cited as the Insurance (Applications and Fees) Regulations (2026 Revision). 2. Interpretation 2. In these Regulations — “manager” means a person, other than the approved insurance manager who handles, controls or directs the business operations of an insurer; “principal Act” means the Insurance Act [Law 32 of 2010] (as amended). 3. Application for licence 3. (1) An application for a licence under section 4 of the principal Act shall be in the form prescribed in Schedule 1 and the information to accompany the application shall be as set out in Schedule 1. (2) The Authority may require an applicant to provide supplementary information on or clarification of the information initially provided in the application. c Revised as at 31st December, 2025 Page 5 Regulation 4 Insurance (Applications and Fees) Regulations (2026 Revision) 4. Fees 4. (1) For the purposes of section 4(2)(b) of the Act, the prescribed nonrefundable application fee for a licence is set out in column 3 of the table in Part 1 of Schedule 2. (2) For the purposes of section 7(1) of the Act, and subject to paragraphs (5) and (7), the prescribed annual fee for a licence is set out in column 4 of the table in Part 1 of Schedule 2. (3) For the purposes of section 28B(1)(b)(iii) of the Act, the prescribed non- refundable application fee for a person registered under the principal Act and in respect of whom a licence is not required to carry on insurance business is set out in column 3 of the table in Part 2 of Schedule 2. (4) For the purposes of section 7(1A) of the Act, and subject to paragraphs (5) and (7), the prescribed annual fee for a person registered under the principal Act and in respect of whom a licence is not required to carry on insurance business is set out in column 4 of the table in Part 2 of Schedule 2. (5) If the Authority is satisfied that — (a) a licensee holding a Class A, Class B, Class C or Class D insurer licence; or (b) a person registered under the principal Act and in respect of whom a licence is not required to carry on insurance business, has, prior to the date on which the relevant annual fee becomes payable, ceased carrying on any insurance business other than that necessary to enable the performance of any obligations the licensee or the registered person has under any contracts of insurance in force at that date, the annual fee payable by the licensee or the registered person is the equivalent of fifty per cent of the relevant annual fee referred to in paragraph (2) or (4), respectively. (6) The relevant annual fee referred to in paragraph (2) or (4), as applicable, becomes immediately due and payable if the licensee or the registered person under paragraph (5) effects any new contracts of insurance during the year to which the annual fee relates. (7) If an application for a Class A, Class B, Class C or Class D insurer licence is granted in the month of December or a person is registered to carry on insurance business without requiring a licence to carry on such business in the month of December, the annual fee payable by the licensee or registered person for the year in which the licence or registration is granted is the equivalent of one- twelfth of the relevant annual fee referred to in paragraph (2) or (4), respectively. Page 6 Revised as at 31st December, 2025 c Insurance (Applications and Fees) Regulations (2026 Revision) Regulation 5 5. Non-insurance business 5. Unless a person would otherwise be regarded as carrying on insurance business but for this regulation such person shall not be considered to carry on insurance business solely by reason of the fact that that person effects or carries out any contract (including, without limitation, an option contract, credit default swap contract, total return swap contract, futures contract, forward contract, swap contract, derivative contract, and a contract for differences or security) the purpose of which is to secure a profit or avoid a loss by reference to — (a) fluctuations in the value or price of property of any description; or (b) an index or other factor, or the occurrence of a particular event, specified for that purpose in the contract, and in either case where such contract is entered into on the basis that the obligation of one party to pay the other party is not contingent, whether that be express or implied, upon the other party suffering a loss or otherwise being exposed to the risk of loss in relation to the subject matter of such contract. c Revised as at 31st December, 2025 Page 7 Insurance (Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 SCHEDULE 1 (regulation 3) FORMS FORM 2 CAYMAN ISLANDS INSURANCE ACT INSURANCE (APPLICATIONS AND FEES) REGULATIONS (2026 REVISION) FORM 1 - APPLICATION FOR A CLASS “A” INSURER’S LICENCE - APPROVED EXTERNAL INSURER - SECTION 4 Please complete all sections as fully as possible, giving reasons for any non- completion, and ticking to confirm the inclusion of attachments where required. PART A General A1 Name or proposed name of applicant A2 Name and Address of: Principal Office in the Islands where full and proper business records of the business will be maintained. A3 Registered Office. A4 Business transacted: proposed to be Long-term Or General A5 Date on which applicant proposes to commence carrying on insurance business in or from within the Cayman Islands. A6 List all Cayman Islands licences held by the Insurance Group, if any, including issued exemptions from licensing. A7 Provide details of all other business (not listed above, including non- financial business) carried on or to be carried on from within the Cayman Islands by the applicant or by the group to which it belongs, if any. c Revised as at 31st December, 2025 Page 9 SCHEDULE 1 Insurance (Applications and Fees) Regulations (2026 Revision) A8 List all jurisdictions or territories where the applicant, or the insurance group to which it belongs, if any, currently conducts insurance business. A9 List all jurisdictions or territories where the applicant, or the insurance group to which it belongs, if any, has previously conducted insurance business. A10 List all jurisdictions or territories where the applicant, or the insurance group to which it belongs, if any, has an outstanding application for permission to conduct insurance business. PART B Ownership B1 Attach the following for the company and if applicable the insurance Attach group: i. Latest annual report and audited annual accounts for the three years preceding. ii. The organisational structure of the insurance group. iii. Written confirmation signed by the Directors that the company is solvent in the home jurisdiction, including in the case of an insurance group, a statement of solvency of the group as a whole. B2 Attach details, including Letters of Good Standing from the relevant Attach regulatory body in respect of all lines of business, of all jurisdictions in which the company currently conducts business. B3 Attach a copy of the act, charter, certificate of incorporation and Attach memorandum of association and articles of association or other instrument of constitution of the applicant, as may be appropriate. B4 Unless a publicly traded company listed on a stock exchange recognised Attach by the Authority, list all names (including any previous names), addresses, details of percentages of shareholdings and nationalities of all shareholders. (The Authority may ask for further information especially for shareholders holding above 10%). In those instances where shares are held by a corporate body or bodies, include the chain of connection to the ultimate owner. Page 10 Revised as at 31st December, 2025 c Insurance (Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 B5 Unless a publicly traded company listed on a stock exchange recognised Attach by the Authority, for each shareholder which is a body corporate holding more than ten percent of the applicant’s issued share capital or total voting rights, attach the annual accounts, for the two years preceding the year of application, together with similar accounts for the parent body, if any, of each such body corporate. B6 Each shareholder and each beneficial shareholder who is a natural Attach person holding more than 10% of the applicant’s issued share capital or total voting rights attach: i. Personal questionnaire. ii. Three references acceptable to the Authority, comprising two character references and one reference verifying good financial standing. iii. Police or other certificate satisfactory to the Authority that the shareholder has not been convicted of a serious crime or any offence involving dishonesty. PART C Key Personnel C1 Name and address of person resident in the Cayman Islands who is authorised to accept service of process in legal proceedings and notices on behalf of the applicant. C2 If underwriting long-term business, the name and address of the anti- Attach money laundering reporting officer and compliance officer. C3 If the applicant is to depend upon agent or service companies for the Attach provision of underwriting, management, financial or accounting services with respect to the conduct of its business in the Cayman Islands, give details of such companies, including evidence of their agreement to prove the services mentioned. C4 Attach a list of all insurance agents and insurance brokers with whom Attach the applicant intends to do business, if known at the time of application. Attach any draft brokerage agreements. c Revised as at 31st December, 2025 Page 11 SCHEDULE 1 Insurance (Applications and Fees) Regulations (2026 Revision) C5 Name and address of auditors. Attach C6 Attach evidence that the auditor has agreed to accept appointment. Attach C7 Attach evidence (to include name and address) that the actuary has Attach agreed to accept appointment to certify the actuarial valuation of its policy liabilities in accordance with the Insurance Act. PART D Financial Statements and Standards D1 Financial year end date. D2 Which internationally recognised accounting standards will apply? D3 Attach details of signatories with corresponding signing authorities Attach under the company’s bank mandate in the Cayman Islands. PART E Business to be transacted Attach a three year business plan for the insurance business to be transacted in Attach the Cayman Islands containing: E1 Rationale for carrying on insurance business in the Cayman Islands, including short-term and long-term objectives. E2 Reports of any feasibility studies carried out to support business plan. E3 Explanation of strategy for risk management and internal controls within the business. E4 Classes of insurance to be written including proposed levels of retention, cessions/limits and programme aggregates, if applicable, by class of business. E5 Marketing strategy. Page 12 Revised as at 31st December, 2025 c Insurance (Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 E6 Copy of policy forms and wordings in respect of products sold. E7 Reinsurance programme structure with comprehensive evidence to support the proposed cessions and limits with respect to solvency margins. E8 Underwriting procedures, guidelines and authorities (including pricing policies). E9 Claims management procedures. E10 Financial projections covering at least three years, by class of business, identifying assumptions and including stress testing where appropriate, to include: i. Income statement; ii. Balance sheet; iii Statement of solvency at each year-end; statement for long- term business (approved by an actuary); iv. Details, if applicable, of any proposed portfolio assumption together with the basis for actuarial valuation of the transfer. E11 Investment policy. E12 Dividend policy. E13 Details and statement of adequacy of domestic operational resources, in particular staff qualifications and experience and information systems including disaster recovery and business continuity arrangements. E14 Information about contracts with affiliates and outsourcing arrangements. E15 Corporate governance policy and internal controls to be implemented, including reporting arrangements and AML/CFT where applicable. c Revised as at 31st December, 2025 Page 13 SCHEDULE 1 Insurance (Applications and Fees) Regulations (2026 Revision) PART F Domestic Policyholder Protection F1 Name and address of trustee in the Islands to Attach be appointed under the Insurance Act. F2 Attach a copy of the proposed trust Attach agreement. F3 Name and address of the bank holding Attach An “A” licence, issued under the Banks and Trust Companies Act, where trust assets are to be maintained. F4 Any other parties providing services in Attach relation to the policyholder protection arrangements. F5 Attach copies of the agreements between the parties in relation to the policyholder protection arrangements. F6 Attach a written undertaking, signed by the Attach Directors, to comply with the liability support requirements of the Insurance Act. Page 14 Revised as at 31st December, 2025 c Insurance (Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 PART G Declaration Have any of the parties connected with this application ever unsuccessfully applied, either individually or in conjunction with others, for authority to transact insurance business in this or any other jurisdiction? If yes, please give details. Have any of the parties connected with this application ever applied and thereafter withdrawn an application for authority to transact insurance business in this or any other jurisdiction? If yes please explain. I understand the obligation to notify or seek prior approval after submission of this application for material changes to matters referenced herein. Application is accordingly hereby made for the licence specified above and it is certified that all particulars contained in this application and in the documents accompanying it or otherwise furnished in support hereof are true and correct at the date of application. Dated this______day of__________________ 2 _______________________________________________________________ (Name of applicant) By its *Director/ *Secretary/ *or other person duly authorised by the directors of the applicant Signed: ____________________________________ WITNESS:___________________________________ Name: Occupation: Address: *Delete words not applicable Please return with non-refundable Application Fee to the Cayman Islands Monetary Authority. c Revised as at 31st December, 2025 Page 15 SCHEDULE 1 Insurance (Applications and Fees) Regulations (2026 Revision) FORM 2 CAYMAN ISLANDS INSURANCE ACT INSURANCE (APPLICATIONS AND FEES) REGULATIONS (2026 Revision) FORM 2 - APPLICATION FOR A CLASS “A” INSURER’S LICENCE - LOCALLY INCORPORATED - SECTION 4 Please complete all sections as fully as possible, giving reasons for any non- completion, and ticking to confirm the inclusion of attachments where required. PART A General A1 Name or proposed name of applicant. A2 Name and address of: Principal Office in the Islands where full and proper business records of the business will be maintained. A3 Registered Office. A4 Business proposed to be transacted: Long-term Or General A5 Date on which applicant proposes to commence carrying on insurance business in or from within the Cayman Islands. A6 List all Cayman Islands issued licences held by the Insurance Group, if any, including issued exemptions from licensing. A7 Provide details of all other business (not listed above, including non- financial business) carried on or to be carried on from within the Cayman Islands by the applicant or by the insurance group to which it belongs, if any. A8 List all jurisdictions or territories where the applicant, or the insurance group to which it belongs, if any, currently conducts insurance business. A9 List all jurisdictions or territories where the applicant, or the insurance group to which it belongs, if any, has previously conducted insurance business. Page 16 Revised as at 31st December, 2025 c Insurance (Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 A10 List all jurisdictions or territories where the applicant, or the insurance group to which it belongs, if any, has an outstanding application for permission to conduct insurance business. PART B Ownership B1 If the applicant is a subsidiary company of an existing insurance group, Attach attach the following for the insurance group: i. Latest annual report and audited annual accounts for the three years preceding. ii. Organisational structure of the company and any insurance group to which it belongs. iii. Certificate of incorporation. iv. Where the parent or other companies belonging to the insurance group are carrying on insurance business: I. Written confirmation signed by the Directors that the parent company is solvent in the home jurisdiction, including in the case of an insurance group, a statement of solvency of the group as a whole. II. Certificate of compliance with insurance legislation in country of constitution or letter of good standing issued by the relevant regulatory body, in respect of all lines of business carried on by the applicant. B2 Attach a copy of the proposed memorandum of association and articles Attach of association of the applicant, in accordance with the provisions of section 27 of the Companies Act. B3 Unless a publicly traded company listed on a stock exchange Attach recognised by the Authority, list all names (including any previous names), addresses, details of percentages of shareholdings and nationalities of all shareholders. (The Authority may ask for further information especially for shareholders holding above 10%). In those instances where shares are held by a corporate body or bodies, include the chain of connection to the ultimate owner. c Revised as at 31st December, 2025 Page 17 SCHEDULE 1 Insurance (Applications and Fees) Regulations (2026 Revision) B4 Unless a publicly traded company listed on a stock exchange Attach recognised by the Authority, for each shareholder which is a body corporate holding more than 10% of the applicant’s issued share capital or total voting rights, attach the annual accounts, for the two years preceding the year of application, together with similar accounts for the parent body, if any, of each such body corporate. B5 Each shareholder and each beneficial shareholder who is a natural Attach person holding more than 10 % of the applicant’s issued share capital or total voting rights attach: i. Personal questionnaire. ii. Three references acceptable to the Authority, comprising two character references and one reference verifying the good financial standing. iii. Police or other certificate satisfactory to the Authority that the shareholder has not been convicted of a serious crime or any offence involving dishonesty. PART C Key Personnel C1 Provide the names of the money laundering reporting officer and the Attach names and designation of all and any directors, managers and officers with specific responsibility for oversight of the insurance business to be carried on within the Cayman Islands, for which the licence is sought. C2 For each and every person listed in C1 except the money laundering Attach reporting officer attach: i. Personal questionnaire. ii. Three references acceptable to the Authority, comprising two character references and one reference verifying the good financial Attach standing. Attach Page 18 Revised as at 31st December, 2025 c Insurance (Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 iii. Police or other certificate satisfactory to the Authority confirming that the person in question has not been convicted of a serious crime or any offence involving dishonesty. iv. Curriculum vitae. v. Photo identification (passport or driver’s licence) and proof of home address. C3 If the applicant is to depend upon agent or service companies for the Attach provision of underwriting, management, financial or accounting services, give details of such companies, including evidence of their agreement to provide the services mentioned. C4 Attach a list of all insurance agents and insurance brokers with whom Attach the applicant intends to do business, if known at the time of application. Attach any draft brokerage agreements. C5 Name and address of auditors. Attach C6 Attach evidence that the auditor has agreed to accept appointment. Attach C7 Attach evidence (to include name and address) that the actuary has Attach agreed to accept appointment to certify the actuarial valuation of its policy liabilities in accordance with the Insurance Act. PART D Financial Statements and Standards D1 Financial year end date. D2 Which internationally recognised accounting standards will apply? D3 Attach details of signatories with corresponding signing Attach authorities under the company’s bank mandate. PART E Business to be transacted c Revised as at 31st December, 2025 Page 19 SCHEDULE 1 Insurance (Applications and Fees) Regulations (2026 Revision) Attach a three year business plan for the insurance business to be Attach transacted containing: E1 Rationale for carrying on insurance business in the Cayman Islands, including short-term and long-term objectives. E2 Reports of any feasibility studies carried out to support business plan. E3 Explanation of strategy for risk management and internal controls within the business. E4 Classes of business/risks to be written including proposed levels of retention, cessions/limits and aggregates by class of business. E5 Marketing strategy. E6 Copy of policy forms and wordings in respect of products sold. Attach E7 Reinsurance programme structure with comprehensive evidence to support the proposed cessions and limits with respect to solvency margins. E8 Underwriting policies, procedures, guidelines and authorities (including pricing policies). E9 Claims management procedures. E10 Financial projections covering at least three years, by class of business, identifying assumptions and including stress testing where appropriate, to include: i. Income statement. ii. Balance sheet. iii. Statement of solvency at each year- end. iv. Statement for long-term business (approved by an actuary). v. Details of any proposed portfolio transfer together with actuarial valuation for the transfer. Page 20 Revised as at 31st December, 2025 c Insurance (Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 E11 Investment Policy. E12 Dividend Policy. E13 Details and statement of adequacy of domestic operational resources, in particular, staff qualifications and experience and information systems including disaster recovery and business continuity arrangements. E14 Information about contracts with affiliates and outsourcing arrangements. E15 Corporate governance policies and internal controls to be implemented, including reporting arrangements and AML/CFT where applicable. c Revised as at 31st December, 2025 Page 21 SCHEDULE 1 Insurance (Applications and Fees) Regulations (2026 Revision) PART F Declaration Have any of the parties connected with this application ever unsuccessfully applied, either individually or in conjunction with others, for authority to transact insurance business in this or any other jurisdiction? If yes, please give details. Have any of the parties connected with this application ever applied and thereafter withdrawn an application for authority to transact insurance business in this or any other jurisdiction? If yes please explain. I understand the obligation to notify or seek prior approval after submission of this application for material changes to matters referenced herein. Application is accordingly hereby made for the licence specified above and it is certified that all particulars contained in this application and in the documents accompanying it or otherwise furnished in support hereof are true and correct at the date of application. Dated this______day of__________________ 2 _______________________________________________________________ (Name of applicant) By its *Director/ *Secretary/ *or other person duly authorised by the directors of the applicant Signed: ____________________________________ WITNESS:___________________________________ Name: Occupation: Address: *Delete words not applicable Please return with non-refundable Application Fee to the Cayman Islands Monetary Authority. Page 22 Revised as at 31st December, 2025 c Insurance (Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 FORM 3 CAYMAN ISLANDS INSURANCE ACT INSURANCE (APPLICATIONS AND FEES) REGULATIONS (2026 REVISION) FORM 3 - APPLICATION FOR A CLASS “B” INSURER’S LICENCE - SECTION 4 Please complete all sections as fully as possible, giving reasons for any non- completion, and ticking to confirm the inclusion of attachments where required. PART A General A1 Name or proposed name of applicant. A2 Regulatory sub-categorisation at Class B(i) Class B(ii) Class B(iii) time of application A3 Principal Office in the Islands where full and proper business records of the business will be maintained. A4 Name and address of Registered Office. A5 Business proposed to be Long-term And/Or General transacted. A6 Date which applicant intends to commence carrying on insurance business from within the Cayman Islands. A7 List all Cayman Islands issued licences held by the insurance group, if any, including issued exemptions from licensing. PART B Ownership c Revised as at 31st December, 2025 Page 23 SCHEDULE 1 Insurance (Applications and Fees) Regulations (2026 Revision) B1 Attach evidence of the proper incorporation of the applicant pursuant to Attach section 5 of the Companies Act, and a copy of the memorandum of association and articles of association, or other instrument of constitution of the applicant, as may be appropriate or in the case of companies not yet incorporated, the proposed documentation. B2 Attach the organisational structure of the company and any insurance Attach group to which it belongs. B3 Unless a publicly traded company listed on a stock exchange recognised Attach by the Authority, list all names (including any previous names), addresses, details of percentages of shareholdings and nationalities of all shareholders. (The Authority may ask for further information especially for shareholders holding above 10%). In those instances where shares are held by a body corporate, include the chain of connection to the ultimate owner. B4 Unless a publicly traded company listed on a stock exchange recognised Attach by the Authority, for each shareholder which is a body corporate holding more than 10% of the applicant’s issued share capital or total voting rights, attach the annual accounts, for the two years preceding the year of application, together with similar accounts for the parent body, if any, of each such body corporate. B5 Each shareholder and each beneficial shareholder who is a natural person Attach holding more than 10% of the applicant’s issued share capital or total voting rights attach: i. Personal questionnaire. ii. Three references acceptable to the Authority, comprising two character references and one reference verifying the good financial standing. iv. Police or other certificate satisfactory to the Authority that the shareholder has not been convicted of a serious crime or any offence involving dishonesty. B6 Attach details of the proposed authorised capital and the method of Attach capitalisation. Provide confirmation and details of the source of funds for the initial statutory capital as required under the Insurance Act. Page 24 Revised as at 31st December, 2025 c Insurance (Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 B7 Where a trust is involved in the ownership structure, please provide a Attach copy of the trust document indicating the names of any settlors, beneficiaries and trustees. PART C Key Personnel C1 Name and address of the insurance manager appointed (pursuant to the Attach Insurance Act) and attach evidence that such insurance manager has agreed to accept appointment. C2 If underwriting long-term business, the name and address of the money Attach laundering reporting officer and compliance officer. C3 For each and every director, manager and officer attach: Attach i. Personal questionnaire; ii. Three references acceptable to the Authority, comprising two character references and one reference verifying the good financial standing; iii. Police or other certificate satisfactory to the Authority confirming that the person in question has not been convicted of a serious crime or any offence involving dishonesty; iv. Photo identification (passport or driver’s licence) and proof of home address C4 Name and address of auditors. Attach C5 Attach evidence appointment. that the auditor has agreed to accept Attach C6 If the application includes long-term business, attach evidence (to Attach include name and address) that the actuary has agreed to accept appointment to certify the actuarial valuation of its long-term policy liabilities in accordance with the Insurance Act. PART D Financial Statements and Standards c Revised as at 31st December, 2025 Page 25 SCHEDULE 1 Insurance (Applications and Fees) Regulations (2026 Revision) D1 Financial year end date. D2 Which internationally recognised accounting standards will apply? PART E Business to be transacted Attach a three year business plan for the insurance business to be Attach transacted including: E1 Rationale for establishing insurer. E2 Brief narrative history of the previous insurance programme, if applicable. E3 Classes of insurance to be written including levels of retention, cessions/limits and programme aggregates, if applicable, by line of business. E4 Details of any proposed arrangements whereby the insurer will reinsure admitted insurance carriers outside the Cayman Islands. E5 Reserving philosophy with evidence of loss history where available. E6 Financial projections covering at least three years, by class of business, identifying assumptions (e.g. confidence levels, if applicable) to include: i. Income statement. ii. Balance sheet. iii. Statement of solvency at each year-end. iv. Details, if applicable, of any proposed portfolio assumption together with basis for valuation of the transfer. E7 Names of any external providers e.g. T.P.A. E8 Investment Policy. E9 Dividend Policy. Page 26 Revised as at 31st December, 2025 c Insurance (Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 PART F Declaration Have any of the parties connected with this application ever unsuccessfully applied, either individually or in conjunction with others, for authority to transact insurance business in this or any other jurisdiction? If yes, please give details. Have any of the parties connected with this application ever applied and thereafter withdrawn an application for authority to transact insurance business in this or any other jurisdiction? If yes please explain. I understand the obligation to notify or seek prior approval after submission of this application for material changes to matters referenced herein. Application is accordingly hereby made for the licence specified above and it is certified that all particulars contained in this application and in the documents accompanying it or otherwise furnished in support hereof are true and correct at the date of application. Dated this______day of__________________ 2 _______________________________________________________________ (Name of applicant) By its *Director/ *Secretary/ *or other person duly authorised by the directors of the applicant Signed: ____________________________________ WITNESS:___________________________________ Name: Occupation: Address: *Delete words not applicable Please return with non-refundable Application Fee to the Cayman Islands Monetary Authority. c Revised as at 31st December, 2025 Page 27 SCHEDULE 1 Insurance (Applications and Fees) Regulations (2026 Revision) FORM 4 CAYMAN ISLANDS INSURANCE ACT INSURANCE (APPLICATIONS AND FEES) REGULATIONS (2026 REVISION) FORM 4 - APPLICATION FOR A CLASS “C” INSURER’S LICENCE - SECTION 4 Please complete all sections as fully as possible, giving reasons for any non- completion, and ticking to confirm the inclusion of attachments where required. PART A General A1 Name or proposed name of applicant. A2 Principal Office in the Islands where full and proper business records of the business will be maintained A3 Name and address of Registered Office. A4 Business proposed to be Long-term Composite General transacted. A5 Date on which applicant intends to commence carrying on insurance business from within the Islands. A6 List all Cayman Islands issued licences held by the insurance group, if any, including issued exemptions from licensing. PART B Ownership B1 Attach evidence of the proper incorporation of the applicant pursuant to Attach the Companies Act, and a copy of the memorandum of association and articles of association, or other instrument of constitution of the applicant, as may be appropriate or in the case of companies not yet incorporated, the proposed documentation. Page 28 Revised as at 31st December, 2025 c Insurance (Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 B2 Unless a publicly traded company listed on a stock exchange recognised Attach by the Authority, list all names (including any previous names), addresses, details of percentages of shareholdings and nationalities of all shareholders. The Authority may ask for further information, particularly for shareholders holding above 10%. B3 Except in circumstances where a trust is involved in the ownership Attach structure: 1. attach an organisational structure of the company and include details of any insurance group to which it belongs; and 2. include details on the chain of ownership to the ultimate shareholder. B4 Unless a publicly traded company listed on a stock exchange recognised Attach by the Authority, for each shareholder which is a body corporate holding more than 10% of the applicant’s issued share capital or total voting rights, attach the annual accounts for the two years preceding the year of application, together with similar accounts for the parent body, if any, of each such body corporate. B5 Each shareholder and each beneficial shareholder who is a natural person Attach holding more than 10% of the applicant’s issued share capital or total voting rights attach: i. Personal questionnaire. ii. Three references acceptable to the Authority, comprising two character references and one reference verifying the good financial standing. iii. Police or other certificate satisfactory to the Authority that the shareholder has not been convicted of a serious crime or any offence involving dishonesty. B6 Attach details of the proposed authorised capital and the method of Attach capitalisation. Provide confirmation and details of the source of funds for the initial statutory capital as required under the Insurance Act. PART C Key Personnel c Revised as at 31st December, 2025 Page 29 SCHEDULE 1 Insurance (Applications and Fees) Regulations (2026 Revision) C1 Name and address of the insurance manager appointed (pursuant to the Attach Insurance Act and attach evidence that such insurance manager has agreed to accept appointment. C2 If underwriting long-term business, the name of the money laundering reporting officer and compliance officer. C3 For each and every director, manager and officer attach: i. Personal questionnaire. Attach ii. Three references acceptable to the Authority, comprising two character references and one reference verifying the good financial standing. iii. Police or other certificate satisfactory to the Authority confirming that the person in question has not been convicted of a serious crime or any offence involving dishonesty. iv. Photo identification (passport or driver’s licence) and proof of home address. C4 Name and address of auditors. Attach C5 Attach evidence that the auditor has agreed to accept appointment. Attach PART D Financial Statements and Standards D1 Financial year end date. D2 Which internationally recognised accounting standards will apply? PART E Business to be transacted Attach a business plan for the insurance business to be transacted including: Attach E1 Rationale for establishing insurer. Page 30 Revised as at 31st December, 2025 c Insurance (Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 E2 Full details of the structural arrangements identifying all components, legal purpose and transaction flows. E3 Copy of any draft agreements (e.g. offering memorandum) in support of the structure in E2. c Revised as at 31st December, 2025 Page 31 SCHEDULE 1 Insurance (Applications and Fees) Regulations (2026 Revision) PART F Declaration Have any of the parties connected with this application ever unsuccessfully applied, either individually or in conjunction with others, for authority to transact insurance business in this or any other jurisdiction? If yes, please give details. Have any of the parties connected with this application ever applied and thereafter withdrawn an application for authority to transact insurance business in this or any other jurisdiction? If yes please explain. I understand the obligation to notify or seek prior approval after submission of this application for material changes to matters referenced herein. Application is accordingly hereby made for the licence specified above and it is certified that all particulars contained in this application and in the documents accompanying it or otherwise furnished in support hereof are true and correct Dated this______day of__________________ 2 _______________________________________________________________ (Name of applicant) By its *Director/ *Secretary/ *or other person duly authorised by the directors of the applicant Signed: ____________________________________ WITNESS:___________________________________ Name: Occupation: Address: *Delete words not applicable Please return with non-refundable Application Fee to the Cayman Islands Monetary Authority. Page 32 Revised as at 31st December, 2025 c Insurance (Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 FORM 5 CAYMAN ISLANDS INSURANCE ACT INSURANCE (APPLICATIONS AND FEES) REGULATIONS (2026 REVISION) FORM 5 - APPLICATION FOR A CLASS “D” INSURER’S LICENCE - SECTION 4 Please complete all sections as fully as possible, giving reasons for any non- completion, and ticking to confirm the inclusion of attachments where required. PART A General A1 Name or proposed name of applicant. A2 Name and address of: Principal Office in the Islands where full and proper business records of the business will be maintained. A3 Registered Office. A4 Head Office in the Islands where full and proper business records will be maintained. A5 Business proposed to be transacted: Long- Composite General term A6 Date on which applicant proposes to commence carrying on insurance business in or from within the Cayman Islands. A7 List all Cayman Islands issued licences held by the insurance group, if any, including issued exemptions from licensing. A8 Provide pertinent details of all other business (not listed above, including non- financial business) carried on or to be carried on from within the Cayman Islands by the applicant or by the insurance group to which it belongs, if any. A9 List top 5 jurisdictions or territories, ranked by gross written premium, where the applicant, or the insurance group to which it belongs, if any, currently conducts insurance business. c Revised as at 31st December, 2025 Page 33 SCHEDULE 1 Insurance (Applications and Fees) Regulations (2026 Revision) A10 List top 5 jurisdictions or territories, ranked by gross written premiums, where the applicant, or the insurance group to which it belongs, if any, has previously conducted insurance business. A11 List all jurisdictions or territories where the applicant, or the insurance group to which it belongs, if any, has an outstanding application for permission to conduct insurance business. PART B Ownership B1 If the applicant is a subsidiary company of an existing insurer (not Attach licensed by the Authority), attach the following for the parent company: i. Latest annual report and audited annual accounts for the three years preceding. ii. The organisational structure of the company and any insurance group to which it belongs. iii. Certificate of incorporation (or equivalent). iv. Evidence of good standing (or equivalent) from the appropriate regulatory body from the Insurance groups head office. B2 Attach evidence of the proper incorporation of the applicant pursuant Attach to the Companies Act, and a copy of the memorandum of association and articles of association, or other instrument of constitution of the applicant, as may be appropriate or, in the case of companies not yet incorporated, the proposed documentation. B3 Unless a publicly traded company listed on a stock exchange Attach recognised by the Authority, list all names (including any previous names), addresses, details of percentages of shareholdings and nationalities of all shareholders. In those instances where shares are held by a body corporate, the chain of connection to the ultimate owner must be shown. Page 34 Revised as at 31st December, 2025 c Insurance (Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 B4 Unless a publicly traded company listed on a stock exchange Attach recognised by the Authority, each shareholder and each beneficial shareholder which is a body corporate holding more than 10% of the applicant’s issued share capital or total voting rights, attach the annual accounts, for the two years preceding the year of application together with similar accounts for the parent body, if any, of each such body corporate. B5 Each shareholder and each beneficial shareholder who is a natural Attach person holding more than 10% of the applicant’s issued share capital or total voting rights attach: i. Personal questionnaire. ii. Three references acceptable to the Authority, comprising two character references and one reference verifying the good financial standing. iii. Police or other certificate satisfactory to the Authority that the shareholder has not been convicted of a serious crime or any offence involving dishonesty. PART C Key Personnel C1 Name and address of person resident in the Islands who is authorised to accept service of process in legal proceedings and notices on behalf of the applicant. C2 Provide the name of the money laundering reporting officer and the Attach names and designation of all and any directors, managers and officers with specific responsibility for oversight of the insurance business to be carried on within the Cayman Islands, for which the licence is sought. C3 For each and every director, officer and manager listed in C2 attach: Attach i. Personal questionnaire. ii. Three references acceptable to the Authority, comprising two character references and one reference verifying the good financial standing. c Revised as at 31st December, 2025 Page 35 SCHEDULE 1 Insurance (Applications and Fees) Regulations (2026 Revision) iii. Police or other certificate satisfactory to the Authority confirming that the person in question has not been convicted of a serious crime or any offence involving dishonesty. iv. Curriculum vitae. v. Photo identification (passport or driver’s licence) and proof of home address. C4 If the applicant is to depend upon agent or service companies for the Attach provision of underwriting, management, financial or accounting services, give details of such companies, including evidence of their agreement to provide the services mentioned. C5 Attach evidence that the auditor has agreed to accept appointment. Attach C6 Attach evidence (to include name and address) that the actuary has agreed to accept appointment to certify the actuarial valuation of its policy liabilities in accordance with the Insurance Act. PART D Financial Statements and Standards D1 Financial year end date. D2 Which internationally recognised accounting standards will apply? PART E Business to be transacted Attach a three-year business plan for the insurance business to be Attach transacted containing:

E1 Rationale for carrying on insurance business from within the Cayman Islands, including short-term and long-term objectives. E2 Reports of the final accepted feasibility study carried out to support business plan. Page 36 Revised as at 31st December, 2025 c Insurance (Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 E3 Explanation of strategy for risk management and internal controls within the business. E4 Classes of business/risks to be written including proposed levels of retention, cessions/limits and aggregates by class of business, if applicable. E5 Marketing strategy. E6 Copy of any intercompany reinsurance arrangements. E7 Reinsurance programme structure with comprehensive evidence to support the proposed cessions and limits (outward). E8 Underwriting procedures, guidelines and authorities (including pricing philosophies). E9 Claim management procedures. E10 Financial Projections covering at least three years, by class of business, identifying assumptions and including stress testing where appropriate, to include: i. Income statement. ii. Balance sheet. iii. Statement of solvency at each year-end. iv. Statement for long-term business (approved by an actuary). v. Details of any proposed portfolio assumption together with actuarial and/or underwriting valuation for the transfer. E11 Catastrophe modelling study including, proposed methodology for estimating catastrophic loss return periods. This should include absolute aggregate exposures by zone (where applicable) for a first event and all events in the aggregate. E12 Investment Policy. E13 Dividend Policy. c Revised as at 31st December, 2025 Page 37 SCHEDULE 1 Insurance (Applications and Fees) Regulations (2026 Revision) E14 Details and statement of adequacy of domestic operational resources, in particular staff qualifications and experience and Information systems including disaster recovery arrangements. E15 Corporate governance policies and internal controls to be implemented, including reporting arrangements and AML/CFT where applicable. E16 Information on any third-party arrangements generating more than 10% of the reinsurers estimated annual premium, in the current underwriting year. Page 38 Revised as at 31st December, 2025 c Insurance (Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 PART F Declaration Have any of the parties connected with this application ever unsuccessfully applied, either individually or in conjunction with others, for authority to transact insurance business in this or any other jurisdiction? If yes, please give details. Have any of the parties connected with this application ever applied and thereafter withdrawn an application for authority to transact insurance business in this or any other jurisdiction? If yes please explain. I understand the obligation to notify or seek prior approval after submission of this application for material changes to matters referenced herein. Application is accordingly hereby made for the licence specified above and it is certified that all particulars contained in this application and in the documents accompanying it or otherwise furnished in support hereof are true and correct. Dated this______day of__________________ 2 _______________________________________________________________ (Name of applicant) By its *Director/ *Secretary/ *or other person duly authorised by the directors of the applicant Signed: ____________________________________ WITNESS:___________________________________ Name: Occupation: Address: *Delete words not applicable Please return with non-refundable Application Fee to the Cayman Islands Monetary Authority. c Revised as at 31st December, 2025 Page 39 SCHEDULE 1 Insurance (Applications and Fees) Regulations (2026 Revision) FORM 6 CAYMAN ISLANDS INSURANCE ACT INSURANCE (APPLICATIONS AND FEES) REGULATIONS (2026 REVISION) FORM 6 - APPLICATION FOR AN INSURANCE MANAGER LICENCE - SECTION 4 Please complete all sections as fully as possible, giving reasons for any non- completion, and ticking to confirm the inclusion of attachments where required. PART A General A1 Name of applicant. A2 Name and address of: Registered Office in the Cayman Islands. A3 Head Office in the Islands where full and proper business records will be maintained. A4 Date on which applicant intends to commence carrying on insurance management business in or from within the Islands. A5 List all Cayman Islands issued licences, including dates obtained, and any issued exemptions from licensing. A6 List all jurisdictions where an insurance management licence has been issued to the applicant and attach certificates of good standing issued by the Regulatory bodies in those jurisdictions. A7 Provide details of all other business, including services to be provided (not listed above, including non-financial business) carried on or to be carried on from within the Cayman Islands or elsewhere by the applicant or by the insurance group to which it belongs, if any. PART B Ownership Page 40 Revised as at 31st December, 2025 c Insurance (Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 B1 Where the applicant is a subsidiary company provide written confirmation, signed by the Directors, that the parent company accepts full responsibility for all policies or contracts issued by the subsidiary company and also for all acts, omissions and liabilities of the subsidiary. B2 If the applicant is a subsidiary company, attach the following for the Attach parent company: i. Latest annual report and audited annual accounts for the three years preceding. ii. The organisational structure of the company and any insurance group to which it belongs; iii. Certificate of incorporation. iv. Where the parent or other companies belonging to the insurance group are carrying on insurance business, provide the latest available group audited financial statements and group management accounts. v. Evidence of good standing (or equivalent) from the appropriate regulatory body from the Insurance groups head office. B3 Attach a copy of the proposed memorandum of association and articles Attach of association of the applicant. B4 List all names (including any previous names), in the most recent seven Attach years, addresses, details of percentages of shareholdings and nationalities of all shareholders including instances where shares are held by a body corporate, the chain of connection to the ultimate owner must be shown. B5 Each shareholder and each beneficial shareholder which is a body Attach corporate holding more than 10% of the applicant’s issued share capital or total voting rights, attach the annual accounts, for the two years preceding the year of application together with similar accounts for the parent body, if any, of each such body corporate. c Revised as at 31st December, 2025 Page 41 SCHEDULE 1 Insurance (Applications and Fees) Regulations (2026 Revision) B6 Each shareholder and each beneficial shareholder who is a natural Attach person holding more than 10% of the applicant’s issued share capital or total voting rights attach: i. Personal questionnaire; ii. Three references acceptable to the Authority, comprising two character references and one reference verifying the good financial standing; iii. Police or other certificate satisfactory to the Authority that the shareholder has not been convicted of a serious crime or any offence involving dishonesty. PART C Key Personnel C1 Provide the name of the money laundering reporting officer and the Attach names and designation of all and any directors, managers and officers with specific responsibility for oversight of the insurance business to be carried on within the Cayman Islands, for which the licence is sought. C2 For each and every director, manager and officer listed in C1 attach: Attach i. Personal questionnaire. ii. Three references acceptable to the Authority, comprising two character references and one reference Attach verifying the good financial standing. iii. Police or other certificate satisfactory to the Authority Attach confirming that the person in question has not been convicted of a serious crime or any offence involving dishonesty. iv. Curriculum vitae. v. Photo identification (passport or driver’s licence) and proof of home address. C3 If the applicant is to depend upon agent or service companies for Attach the provision of underwriting, management, financial or accounting services, give details of such companies, including evidence of their agreement to provide the services mentioned. Page 42 Revised as at 31st December, 2025 c Insurance (Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 PART D Financial Statements and Standards D1 Financial year end date. Attach D2 Attach evidence of professional indemnity insurance as required by the Attach Insurance Act. PART E Business to be transacted Attach a three year business plan for the insurance business to be transacted Attach including: E1 Rationale for establishing in the Cayman Islands and Services to be offered. E2 Business development plan identifying potential business, target markets, contacts, affiliations with third-parties, specialisations, and marketing plan. E3 Any management service agreements with external service providers. E4 List of all known insurers for whom the applicant will be engaged to act, at the time of licensing. E5 Details and statement of adequacy of operational resources, in particular staff qualifications and experience. This should include a detailed resume of key personnel showing relevant industry experience. E6 Details of information technology systems including business continuity and disaster recovery arrangements. E7 Corporate governance policies and internal controls to be implemented, including reporting arrangements and AML/CFT where applicable and commercial due diligence procedures. E8 Capitalisation amount and structure. c Revised as at 31st December, 2025 Page 43 SCHEDULE 1 Insurance (Applications and Fees) Regulations (2026 Revision) E9 Financial projections PART F Declaration Have any of the parties connected with this application ever unsuccessfully applied, either individually or in conjunction with others, for authority to transact insurance business in this or any other jurisdiction? If yes, please give details. Have any of the parties connected with this application ever applied and thereafter withdrawn an application for authority to transact insurance business in this or any other jurisdiction? If yes please explain. I understand the obligation to notify or seek prior approval after submission of this application for material changes to matters referenced herein. Application is accordingly hereby made for the licence specified above and it is certified that all particulars contained in this application and in the documents accompanying it or otherwise furnished in support hereof are true and correct at the date of application. Dated this______day of__________________ 2 _______________________________________________________________ (Name of applicant) By its *Director/ *Secretary/ *or other person duly authorised by the directors of the applicant Signed: ____________________________________ WITNESS:___________________________________ Name: Occupation: Address: *Delete words not applicable Please return with non-refundable Application Fee to the Cayman Islands Monetary Authority. Page 44 Revised as at 31st December, 2025 c Insurance (Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 FORM 7 CAYMAN ISLANDS INSURANCE ACT INSURANCE (APPLICATIONS AND FEES) REGULATIONS (2026 REVISION) FORM 7 - APPLICATION FOR AN INSURANCE BROKER LICENCE - SECTION 4 Please complete all sections as fully as possible, giving reasons for any non- completion, and ticking to confirm the inclusion of attachments where required. PART A General A1 Name of applicant. A2 Name and Address of Registered Office. A3 Name and Address of principal office in the Islands where full and proper business records will be maintained. A4 What type of business is the General Long-term Both applicant proposing to offer insurance insurance advice on? (tick). business business A5.1 Indicate whether the insurance Domestic % Off — % broker business to be transacted Shore is domestic or offshore. A5.2 In the case of both being ticked indicate the percentage split. A6 Date on which applicant intends to commence carrying on insurance business in or from within the Cayman Islands. A7 List all Cayman Islands issued licences, including dates obtained, and any issued exemptions from licensing. A8 List all jurisdictions where an insurance broker licence has been issued to the applicant and attach certificates of good standing issued by the regulatory bodies in those jurisdictions. c Revised as at 31st December, 2025 Page 45 SCHEDULE 1 Insurance (Applications and Fees) Regulations (2026 Revision) A9 Provide details of all other business, including services to be provided (not listed above, including non-financial business) carried on or to be carried on from within the Cayman Islands or elsewhere. PART B Ownership B1 Attach evidence of incorporation or registration pursuant to the Attach Companies Act and a copy of the proposed memorandum of association and articles of association of the applicant; B2 List all names (including any previous names), addresses, details of Attach percentages of shareholdings and nationalities of all shareholders. (The Authority may ask for further information especially for shareholders holding above 10%). In those instances where shares are held by a body corporate, the chain of connection to the ultimate owner must be shown. B3 For each shareholder which is a body corporate holding more than 10% Attach of the applicant’s issued share capital or total voting rights, attach the annual accounts, for the two years preceding the year of application, together with similar accounts for the parent body, if any, of each such body corporate. B4 Each shareholder and each beneficial shareholder who is a natural person Attach holding more than 10% of the applicant’s issued share capital or total voting rights attach: i. Personal questionnaire. ii. Three references acceptable to the Authority, comprising two character references and one reference verifying the good financial standing. iii. Police or other certificate satisfactory to the Authority that the shareholder has not been convicted of a serious crime or any offence involving dishonesty. PART C Key Personnel Page 46 Revised as at 31st December, 2025 c Insurance (Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 C1 Name and address of person resident in the Islands who is authorised to accept service of process in legal proceedings and notices on behalf of the applicant. C2 Provide the name of the money laundering reporting officer and the Attach names and designation of all and any directors (minimum 2), managers and officers with specific responsibility for oversight of the insurance business to be carried on within the Cayman Islands, for which the licence is sought. C3 For each and every director, officer and manager listed in C2 attach: Attach i. Personal questionnaire. ii. Three references acceptable to the Authority, comprising two character references and one reference verifying the good Attach financial standing. iii. Police or other certificate satisfactory to the Authority Attach confirming that the person in question has not been convicted of a serious crime or any offence involving dishonesty. iv. Curriculum vitae. v. Photo identification (passport or driver’s licence) and proof of home address. C4 If the applicant is to depend upon agent or service companies for the Attach provision of underwriting, management, financial or accounting services, give details of such companies, including evidence of their agreement to provide the services mentioned. C5 Name and address of auditors. Attach C6 Attach evidence that the auditor has agreed to accept appointment. Attach PART D Financial Statements and Standards D1 Planned financial year end date. D2 Attach details of signatories with corresponding signing Attach authorities under the company’s bank mandate. c Revised as at 31st December, 2025 Page 47 SCHEDULE 1 Insurance (Applications and Fees) Regulations (2026 Revision) D3 Attach evidence of professional indemnity insurance pursuant to the Attach Insurance Act. PART E Business to be transacted Attach a three year business plan for the insurance business to be transacted Attach including: E1 Rationale for establishing in the Cayman Islands and services to be offered. E2 For applicants intending to transact only non-domestic business explain the rationale for establishing in the Cayman Islands. E3 If special dispensation to transact business with an unlicenced insurer is being sought, provide evidence that this has been approved by the policyholder and that good and sufficient reason exists that such placement is necessary due to a need for capacity, policy coverage or otherwise. E4 Business development plan identifying potential business, target markets, contacts, affiliations with third-parties, specialisations, and marketing plan. E5 Draft broker service agreements (note that the obligation to notify the Authority of changes is applicable to this item where the actual agreements eventually put in place differ from the draft agreements provided). E6 List of all insurers for whom the applicant will be engaged to act. E7 Details and statement of adequacy of operational resources, in particular staff qualifications and experience. E8 Details of information systems including disaster recovery arrangements. Page 48 Revised as at 31st December, 2025 c Insurance (Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 E9 Corporate governance policies and internal controls to be implemented, including reporting arrangements and AML/CFT where applicable and commercial due diligence procedures. E10 Capitalisation amount and structure. E11 Financial projections. c Revised as at 31st December, 2025 Page 49 SCHEDULE 1 Insurance (Applications and Fees) Regulations (2026 Revision) PART F Declaration Have any of the parties connected with this application ever unsuccessfully applied, either individually or in conjunction with others, for authority to transact insurance business in this or any other jurisdiction? If yes, please give details. Have any of the parties connected with this application ever applied and thereafter withdrawn an application for authority to transact insurance business in this or any other jurisdiction? If yes please explain. I understand the obligation to notify or seek prior approval after submission of this application for material changes to matters referenced herein. Application is accordingly hereby made for the licence specified above and it is certified that all particulars contained in this application and in the documents accompanying it or otherwise furnished in support hereof are true and correct at the date of application. Dated this______day of__________________ 2 _______________________________________________________________ (Name of applicant) By its *Director/ *Secretary/ *or other person duly authorised by the directors of the applicant Signed: ____________________________________ WITNESS:___________________________________ Name: Occupation: Address: *Delete words not applicable Please return with non-refundable Application Fee to the Cayman Islands Monetary Authority. Page 50 Revised as at 31st December, 2025 c Insurance (Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 FORM 8 CAYMAN ISLANDS INSURANCE ACT INSURANCE (APPLICATIONS AND FEES) REGULATIONS (2026 REVISION) FORM 8 - APPLICATION FOR AN INSURANCE AGENT/AGENCY LICENCE - SECTION 4 Please complete all sections as fully as possible, giving reasons for any non- completion, and ticking to confirm the inclusion of attachments where required. PART A General A1 Name of applicant. A2 Name and address of principal office in the Islands where full and proper business records will be maintained. A3 What type of business is the General Long-term Both applicant proposing to offer insurance insurance advice on? (tick). business business Please indicate the name of the Class A Insurer. A4 Attach evidence of the existence of a power of attorney, agency agreement or guarantee OR of professional indemnity insurance as required under the Insurance Act. A5 Date on which applicant intends to commence carrying on insurance business in or from within the Cayman Islands. A6 List all Cayman Islands issued licences, including dates obtained, and any issued exemptions from licensing. A7 List all jurisdictions where an insurance agency licence has been issued to the applicant and attach certificates of good standing issued by the regulatory bodies in those jurisdictions. A8 Provide details of all other business, including services to be provided (not listed above, including non-financial business) carried on or to be carried on from within the Cayman Islands or elsewhere. c Revised as at 31st December, 2025 Page 51 SCHEDULE 1 Insurance (Applications and Fees) Regulations (2026 Revision) PART B Ownership If the applicant is an agency: B1 Attach evidence of proper incorporation pursuant to the Companies Act Attach and a copy of the memorandum of association and articles of association of the applicant, in accordance with the provisions of the Companies Act, or if not yet incorporated, the proposed documentation. B2 List all names (including any previous names), addresses, details of Attach percentages of shareholdings and nationalities of all shareholders. (The Authority may ask for further information especially for shareholders holding above 10%). In those instances where shares are held by a body corporate, the chain of connection to the ultimate owner must be shown. B3 For each shareholder which is a body corporate holding more than 10% Attach of the applicant’s issued share capital or total voting rights, attach the annual accounts, for the two years preceding the year of application, together with similar accounts for the parent body, if any, of each such body corporate. B4 Attach a list of each shareholder and each beneficial shareholder who is Attach a natural person holding more than 10% of the applicant’s issued share capital or total voting rights. B5 For each natural person identified in B4 attach: Attach i. Personal questionnaire. ii. Three references acceptable to the Authority, comprising two character references and one reference verifying the good financial standing. iii. Police or other certificate satisfactory to the Authority that the shareholder has not been convicted of a serious crime or any offence involving dishonesty. PART C Key Personnel Page 52 Revised as at 31st December, 2025 c Insurance (Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 C1 Name and address of person resident in the Islands who is authorised to accept service of process in legal proceedings and notices on behalf of the applicant. C2 Provide the name of the money laundering reporting officer and the Attach names and designation of all and any directors, managers and officers with specific responsibility for oversight of the insurance business to be carried on within the Cayman Islands, for which the licence is sought. C3 For each agent or any director, manager or officer listed in C2 above, Attach please provide: i. Personal questionnaire; ii. Three references acceptable to the Authority, comprising two Attach character references and one reference verifying the good financial standing; Attach iii. Police or other certificate satisfactory to the Authority confirming that the person in question has not been convicted of a serious crime or any offence involving dishonesty; iv. Curriculum vitae. PART D Financial Statements and Standards D1 For an agency, the planned financial year end date. D2 Which internationally recognised accounting standards will apply? D3 If the applicant is a body corporate, attach details of signatories with Attach corresponding signing authorities under the company’s bank mandate. PART E Business to be transacted E1 Business development plan identifying potential business, target markets, Attach contacts, affiliations with third-parties, specialisations, and marketing plan. E2 Details of training received or expertise specific to the markets in which the agent will be selling. c Revised as at 31st December, 2025 Page 53 SCHEDULE 1 Insurance (Applications and Fees) Regulations (2026 Revision) If the applicant is an Agency (body corporate) attach: E3 i. Details of capitalisation and structure; Attach ii. Details of financial projections; iii. Details and statement of adequacy of operational resources, in particular staff qualifications and experience; iv. Details of information systems including business continuity and disaster recovery arrangements; v. Corporate governance policies and internal controls to be implemented, including reporting arrangements and AML/CFT where applicable and commercial due diligence procedures. Page 54 Revised as at 31st December, 2025 c Insurance (Applications and Fees) Regulations (2026 Revision) SCHEDULE 1 PART F Declaration Have any of the parties connected with this application ever unsuccessfully applied, either individually or in conjunction with others, for authority to transact insurance business in this or any other jurisdiction? If yes, please give details. Have any of the parties connected with this application ever applied and thereafter withdrawn an application for authority to transact insurance business in this or any other jurisdiction? If yes please explain. I understand the obligation to notify or seek prior approval after submission of this application for material changes to matters referenced herein. Application is accordingly hereby made for the licence specified above and it is certified that all particulars contained in this application and in the documents accompanying it or otherwise furnished in support hereof are true and correct at the date of application. Dated this______day of__________________ 2 _______________________________________________________________ (Name of applicant) By its *Director/ *Secretary/ *or other person duly authorised by the directors of the applicant Signed: ____________________________________ WITNESS:___________________________________ Name: Occupation: Address: *Delete words not applicable Please return with non-refundable Application Fee to the Cayman Islands Monetary Authority. c Revised as at 31st December, 2025 Page 55 SCHEDULE 2 Insurance (Applications and Fees) Regulations (2026 Revision) SCHEDULE 2 LICENCE FEES AND ANNUAL FEES ((regulations 4(1), (2), (3) and (4)) PART 1 Application fees and annual fees relating to licensees Column 1 Column 2 Column 3 Column 4 Item No. Category of licence Application fee Annual fee 1. Class A insurer licence $1,000 $84,000 2. Class B(i) insurer licence $1,000 $9,500 3. Class B(ii) insurer licence $1,000 $10,500 4. Class B(iii) insurer licence $1,000 $13,500 5. Class C insurer licence $1,000 $6,500 6. Class D insurer licence $1,000 $120,000 7. Insurance agent licence $500 $1,500 8. Insurance broker licence $1,000 $15,900 9. Insurance manager licence — (a) acting for 10 or less licensed insurers $1,000 $16,500 (b) acting for 11 to 50 licensed insurers $1,000 $22,000 (c) acting for 51 to 100 licensed insurers $1,000 $27,500 (d) acting for more than 100 licensed $1,000 $33,000 insurers 10. Where the applicant for, or the holder of, $1,000 and an additional An amount equivalent a licence, as applicable, is a segregated amount of $1,000 in to the relevant annual portfolio company within the meaning of respect of each fee in respect of the the Companies Act (2026 Revision) segregated portfolio category of licence created by the segregated and an additional portfolio company amount of $1000 in respect of each segregated portfolio within the segregated portfolio company. Page 56 Revised as at 31st December, 2025 c Insurance (Applications and Fees) Regulations (2026 Revision) SCHEDULE 2 PART 2 Application fees and annual fees relating to persons registered under the principal Act who do not require a licence to carry on insurance business Column 1 Column 2 Column 3 Column 4 Item No. Category of licence Application fee Annual fee 1. Portfolio insurance company $1,000 $1,000 Publication in consolidated and revised form authorised by the Cabinet this 28th day of January, 2026. Kim Bullings Clerk of Cabinet c Revised as at 31st December, 2025 Page 57 Insurance (Applications and Fees) Regulations (2026 Revision) ENDNOTES ENDNOTES Table of Legislation history: SL # Act/Law # Legislation Commencement Gazette 68/2024 Insurance (Applications and Fees) (Amendment) 1-Jan-2025 LG47/2024/s34 Regulations, 2024 56/2020 Citation of Acts of Parliament Act, 2020 3-Dec-2020 LG84/2020/s1 34/2013 Insurance (Applications and Fees) (Amendment) 11-Sep-2013 GE73/2013/s1 Regulations, 2013 61/2012 Insurance (Applications and Fees) Regulations, 2012 28-Nov-2012 GE116/2012/s4 c Revised as at 31st December, 2025 Page 59 ENDNOTES Insurance (Applications and Fees) Regulations (2026 Revision) (Price: $12.00) Page 60 Revised as at 31st December, 2025 c