<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0203</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2009-11-24</periodOfReport>

    <noSecuritiesOwned>1</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001065201</issuerCik>
        <issuerName>AMERINST INSURANCE GROUP LTD</issuerName>
        <issuerTradingSymbol>NONE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001477723</rptOwnerCik>
            <rptOwnerName>Nieman F. Kyle III</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>804 EAST CHICAGO AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NAPERVILLE</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60540</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President-CEO of Subsidiary</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <ownerSignature>
        <signatureName>F. Kyle Nieman, III</signatureName>
        <signatureDate>2009-12-02</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Howard S. Burnston, Esq. as Attorney In Fact</signatureName>
        <signatureDate>2009-12-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
