AGP Executive Report

Insurance & Reinsurance: AM Best says offshore reinsurance kept growing in 2025, with offshore ceded annuity reserves topping 56%, while Cayman gained share thanks to newly established sidecars—an edge that comes as Cayman pushes its NAIC Qualified Jurisdiction Status bid to reduce US collateral demands. Regulatory Engagement: Premier André Ebanks led Cayman’s NAIC Summer meeting push in Columbus, stressing cross-border supervision and QJS as a way to “mature” Cayman’s reinsurance market while protecting the captive sector. Leadership Moves: Kara Ebanks has left CIMA after more than 19 years to become general manager at BAF Insurance Company Cayman. Water & Utilities: OfReg’s new 25-year licence for Cayman Water Company took effect 1 August, targeting about a 6.5% average cut in base water rates; Consolidated Water Co. also declared a $0.14 Q4 2026 dividend. Biosecurity: Cayman intercepted a live cane toad in an incoming shipment, highlighting strengthened horizon scanning and border surveillance. Local Business & Industry: Cayman’s first liquid coffee concentrate brand, Liquid Coffee, launched locally and is rolling out regionally; CIMPA held its inaugural Next GEN event to grow marketing talent. Public Safety: RCIPS expanded bodycams after a two-year pilot, aiming to improve evidential value and reduce complaints.

Insurance & Reinsurance: Premier André Ebanks led Cayman’s NAIC push in Columbus, backing the island’s Qualified Jurisdiction Status bid to help reinsurers access the US market with lower collateral, while AM Best says Cayman gained life reinsurance share in 2025 as new US sidecars grew. Regulatory Appointments: Kara Ebanks has left CIMA after 19 years to become general manager at BAF Insurance Company Cayman. Water & Utilities: OfReg’s new 25-year licence for Cayman Water Company took effect 1 August, cutting average household water costs by about 6.5%, and Consolidated Water Co. declared a $0.14 per share Q4 dividend. Biosecurity: The Department of Agriculture intercepted a live cane toad at the border, a major invasive-species warning sign now tied to strengthened horizon scanning. Local Services: Cayman Brac pet owners say veterinary care is still missing a full-time vet, despite plans and no confirmed timeline. Finance & Corporate Moves: Butterfield says it has completed initial regulatory filings for its $1.8bn CIBC Caribbean acquisition, targeting first-half 2027 closing. Business & Growth: Cayman’s trade agenda adds a consultant to build a first Trade Development Framework, while a Caymanian brand launched the island’s first liquid coffee concentrate for regional expansion. Tech/Markets: Ethena and FalconX unveiled a $1bn secured lending facility using USDe-backed assets for institutional borrowers. Shipping/Leisure: Superyacht Destiny, registered in Cayman, called at Kilcreggan after a Feadship build.

Biosecurity at the border: The Department of Agriculture intercepted a live invasive cane toad in an incoming shipment on 16 July, calling it a clear win for Cayman’s strengthened horizon scanning and surveillance. Utilities & cost of living: OfReg’s new 25-year utility licence for Cayman Water Company took effect 1 August, cutting average household water rates by about 6.5% while keeping an annual rate adjustment mechanism. Insurance growth push: Premier Andre Ebanks says Cayman’s NAIC Qualified Jurisdiction Status application is now underway, with a 16–18 month process aimed at helping Cayman “mature” in reinsurance while protecting the captive sector. Regulatory leadership change: Kara Ebanks has left CIMA to become general manager at BAF Insurance Company Cayman, continuing a leadership shift within the captive-focused regulator. Cayman finance & capital markets: NorthStrive Acquisition Corp I., an exempted Cayman SPAC, closed a $100m IPO, while Butterfield Bank seeks shareholder approval for new share issuance tied to its $1.8b Caribbean bank acquisition. Industry spotlight: Cayman Captive Forum 2026 announced keynote speakers, and Cayman’s trade agenda moves forward with consultants appointed to build a Trade Development Framework.

Insurance & Reinsurance Push: Premier Andre Ebanks says Cayman’s NAIC Qualified Jurisdiction Status (QJS) bid is a 16–18 month process aimed at helping Cayman “mature” in reinsurance while keeping captive insurance central, with regulators and the captive sector consulted throughout. Water Costs Cut: Cayman Water Company’s new 25-year utility licence took effect 1 August, with OfReg saying average household water rates should fall about 6.5% and a long-running renewal dispute finally ends. Crypto Lending in Cayman Ecosystem: Ethena and FalconX launched a $1 billion secured lending facility using assets backing USDe for overcollateralized institutional loans, with FalconX running origination and collateral oversight via a dedicated vehicle. Tokenized Funds Liquidity: Symbiotic integrated instant USDC liquidity with Centrifuge tokenized funds, extending faster redemptions across Centrifuge’s $1.6B AUM lineup. Regulator Leadership Change: Kara Ebanks has left CIMA to become general manager at BAF Insurance Company Cayman, after years leading captive supervision. Local Business & Trade: The Ministry of Trade Development appointed consultants to build Cayman’s first Trade Development Framework, and a Caymanian-founded coffee brand launched the island’s first liquid coffee concentrate for regional expansion. Public Safety Tech: RCIPS rolled out more bodycams following a two-year pilot, positioning them as an evidential “source of truth.”

Trade & Policy: Cayman has submitted an application to the US NAIC for Qualified Jurisdiction status, a long-awaited step meant to strengthen CIMA’s standing with US state regulators and boost confidence for US-linked reinsurance business. Public Sector Procurement: The Ministry of Trade Development has appointed GFA Consulting Group to build Cayman’s first Trade Development Framework over 12 months, with a regional team led by trade economist Claudius Preville. Law Enforcement Tech: RCIPS is rolling out more bodycams after a two-year pilot, positioning the devices as an evidential tool to reduce disputes and support prosecutors and courts. Local Business Growth: Caymanian-founded Liquid Coffee launched the island’s first liquid coffee concentrate and is pushing into regional and international retail and hospitality partners. Marketing Talent Pipeline: CIMPA’s inaugural Next GEN event connected students and emerging marketers with local industry leaders, with a focus on practical career paths and AI’s impact on marketing. Insurance Industry Spotlight: Cayman’s captive insurance ecosystem is being pitched as a collaborative “centre of excellence,” especially for healthcare captives, as the jurisdiction leans into ESG and evolving risk needs. Corporate Finance Watch: Butterfield Bank is seeking shareholder approval to issue new shares tied to its planned purchase of CIBC Caribbean, including Cayman-linked holdings. Energy/Industry Link: Taiwan’s outbound investment surge includes major capital plans involving a Cayman-registered entity tied to TSMC, underscoring Cayman’s role in global corporate structures. Regional Trade: Caribbean Cement says it may restart exports as early as September, with potential targets including the Cayman Islands and The Bahamas once Jamaica demand is met.

Cayman Captive Insurance: Cayman is pitching its captive insurance ecosystem as a “centre of excellence” for healthcare captives, highlighting regulatory stability plus deeper governance and ESG integration as risk landscapes evolve. NAIC Push: The Cayman Islands has applied for NAIC Qualified Jurisdiction status, aiming for formal US recognition of CIMA’s supervisory and solvency standards—Premier André Ebanks is set to engage regulators at the NAIC 2026 meeting. Corporate Finance: Butterfield Bank is seeking shareholder approval to issue about 11.58 million new shares tied to its near $1.8b purchase of Barbados-based CIBC Caribbean, including Cayman-linked holdings. Insurance Industry Forum: IMAC has named Chris Norton and Eric O’Neill as keynote speakers for the Cayman Captive Forum (1–3 Dec). Tech & Capital Markets: Green Circle Decarbonize Technology (Cayman holding company) has made its share capital increase and structure alteration effective. Energy/Materials: Caribbean Cement says it could restart regional exports as early as September, with potential shipments to the Cayman Islands and The Bahamas once Jamaica demand is met. Industry Talent: Dart’s Work-X programme placed 31 Caymanian students into hands-on roles across 13 business areas, including engineering and IT. Crypto/Fintech: BTCC announced it will sponsor TOKEN2049 Singapore as a Cayman-based exchange expands its regional presence.

Outbound Investment & Tech Finance: Taiwan’s outbound investments jumped 200% in January–July, driven by TSMC’s overseas expansion including a major Cayman Islands-registered investment vehicle. Insurance Regulation: The Cayman Islands has applied to the NAIC for Qualified Jurisdiction Status, aiming to boost its standing as a global insurance hub with CIMA’s US-equivalent supervision. Banking Deal: Butterfield Bank seeks shareholder approval to issue nearly 12 million new shares tied to its $1.8b purchase of CIBC Caribbean, including Cayman-linked holdings. Capital Markets & Listings: NorthStrive Acquisition Corp I (Cayman exempted company) priced a $100m IPO of units ahead of Nasdaq trading. Cayman Captive Industry: IMAC named Chris Norton and Eric O’Neill as keynote speakers for the Cayman Captive Forum (Dec 1–3). Housing & Transport Policy: Government opened consultation on draft residential tenancy reforms and delayed key procurement for a modern national transport system. Mining & Exports: Skyline Builders Group acquired two Nevada gold and silver properties as it prepares for a merger with Cove Kaz Resources. Digital Assets Oversight: Nigeria’s SEC admitted Blockchain to its ARIP and also ordered asset freezes tied to sanctioned individuals and entities. Youth & Workforce: Dart’s Work-X programme placed 31 Caymanians into hands-on projects across 13 business areas.

Cayman Captive Forum: IMAC has named Chris Norton and Eric O’Neill as opening and closing keynote speakers for the Cayman Captive Forum 2026 (1–3 December at The Ritz-Carlton, Grand Cayman), spotlighting risk leadership and cyber/AI threat awareness. Cayman Health Policy: The Cayman Islands has published its first National Cancer Policy to standardise screening and care pathways for bowel, breast and cervical cancers, using UK NICE guidance as a baseline. Cayman Housing & Transport: Government has opened consultation on draft residential tenancy reforms (feedback until 20 September) and has delayed key transport procurement steps for a modern national transport system, citing internal approvals. Blue Iguana Conservation: The National Trust broke ground on a new Blue Iguana Conservation office and laboratory at the Queen Elizabeth II Botanic Park, adding a dedicated lab, education space and research facilities. Industry & Finance (Cayman-linked): Skyline Builders Group Holding acquired two Nevada gold and silver properties ahead of its merger with Cove Kaz Resources; and Cayman-based Candle Lake launched a mandatory cash offer for Evolution AB after crossing Swedish takeover thresholds. Crypto & Markets (Cayman-linked): BTCC, with Cayman ties, will sponsor TOKEN2049 Singapore as a Platinum Sponsor, while Toobit reported spot trading growth after rolling out zero maker/taker fees.

Cayman Housing Reform: The Cayman Islands Government has opened a public consultation on draft Residential and Tenancies (Amendment) Bill, 2023, aiming to modernise outdated 2009 rules as part of its affordable housing push; feedback runs until 20 September. Transport Procurement Delays: The Ministry of Planning, Lands, Agriculture, Housing and Infrastructure has delayed key consultant procurement for a modern national transport system, citing the need for internal approvals, and also pushed back plans to merge transport bodies. Cancer Screening Standardisation: Cayman published its first National Cancer Policy to standardise prevention, screening and care, with initial focus on bowel, female breast and cervical cancer and guidance aligned to UK NICE standards. Blue Iguana Facilities: The National Trust broke ground on a new Blue Iguana Conservation office and laboratory at Queen Elizabeth II Botanic Park, adding a dedicated lab, education space and upgraded living-classroom capacity. Aviation Expansion: Cayman Airways will extend its nonstop Grand Cayman–Austin service, adding a second weekly flight in summer 2027 and running the route from 20 December through end-August 2027. Industry & Talent: Dart’s 2026 Work-X programme placed 31 Caymanian students into hands-on roles across 13 business areas, including IT and investment research. Regional Business Watch: Caribbean Cement says it could restart regional exports as early as September, targeting the Cayman Islands and The Bahamas if local demand holds. Crypto & Finance Signals: BTCC, a Cayman-based exchange, announced Platinum sponsorship of TOKEN2049 Singapore with its “0-Barrier Trading” theme, while Cayman’s NAIC bid for Qualified Jurisdiction Status is also in motion.

Cayman Housing Reform: The Cayman Islands Government has opened a public consultation on draft Residential and Tenancies (Amendment) Bill, 2023, seeking feedback until 20 September as it looks to modernise outdated 2009 rules amid the housing crisis. Transport Procurement Delay: The Ministry of Planning, Lands, Agriculture, Housing and Infrastructure has pushed back key steps toward a modern national transport system, citing the need for internal approvals and delaying consultant procurement and a planned merger of transport bodies. Cancer Screening Standardisation: Cayman has published its first National Cancer Policy to standardise prevention and screening for bowel, female breast and cervical cancer, using UK NICE guidance to align clinical pathways. Blue Iguana Conservation: The National Trust broke ground on a new Blue Iguana Conservation office and laboratory at Queen Elizabeth II Botanic Park, adding a dedicated lab, education space and facilities to support the programme’s next hatchling season. Aviation & Tourism Connectivity: Cayman Airways will expand its nonstop Grand Cayman–Austin service, extending the season from 20 December through end-August 2027 and adding a second weekly flight from May 2027. Industry & Talent: Dart’s 2026 Work-X programme placed 31 Caymanian students into hands-on projects across 13 business areas, including IT, investment analysis and hospitality. Regional Trade Watch: Caribbean Cement says it may resume regional exports as early as September, with Cayman and The Bahamas in its sights if Jamaica demand is met first. Poultry Supply Warning: The Trinidad and Tobago Farmers’ Union warns chicken shortages could return in 6–12 months unless long-running poultry sector issues are addressed, pointing to biosecurity pressures linked to bird flu detected in Cayman last December. Digital Finance Signals: Cayman-linked investment vehicle Candle Lake has launched a mandatory cash offer for Evolution AB after crossing Swedish takeover thresholds. Fiduciary Expansion: Osiris Group has entered the Guernsey fiduciary market, adding trustee and administration services alongside its existing Cayman presence. Crypto Industry Move: BTCC, based in Cayman, is set to sponsor TOKEN2049 Singapore as a Platinum Sponsor, promoting “0-Barrier Trading.” AI & Infrastructure: Oxbridge Re Holdings launched AI GridWorks, a Cayman-based plan to develop and operate AI data centres (10–100 MW projects).

Cayman Policy & Health: The Cayman Islands has published its first National Cancer Policy, setting a national framework to standardise cancer prevention, screening and early detection (starting with bowel, female breast and cervical screening) using UK NICE guidance. Cayman Housing & Transport: A public consultation is open on draft Residential and Tenancies (Amendment) Bill changes aimed at modernising outdated 2009 legislation amid the housing crisis, while the government has delayed key transport procurement and consultant work for a modern national transport system. Local Conservation: The National Trust broke ground on a new Blue Iguana Conservation office and laboratory at the Queen Elizabeth II Botanic Park, adding a dedicated lab, education space and facilities for the programme’s long-running care and research. Industry & Talent: Dart’s 2026 Work-X programme placed 31 Caymanian students into hands-on roles across 13 business areas, including IT and investment research. Regional Business: Caribbean Cement says it could resume regional exports as early as September, targeting the Cayman Islands and The Bahamas once Jamaica demand is met. Crypto & Finance (Cayman-linked): BTCC, based in Cayman, is a Platinum Sponsor for TOKEN2049 Singapore and is pushing its “0-Barrier Trading” theme. Energy/AI Infrastructure: Oxbridge Re launched AI GridWorks, an AI data-centre development and ownership platform, with Cayman-based roots.

Cayman Housing Reform: The Cayman Islands Government has opened a public consultation on draft Residential and Tenancies (Amendment) Bill, 2023, seeking feedback until 20 September before any changes move through the policy and legislative process. Transport Procurement Delay: The Ministry has pushed back procurement for consultants to deliver the Final Business Case and full design for a modern national transportation system, citing the need for internal approvals, with related merger work also delayed. Cancer Screening Standardisation: Cayman has published its first National Cancer Policy to standardise prevention, screening and care, starting with bowel, female breast and cervical cancer, using UK NICE guidance as a baseline. Blue Iguana Conservation Boost: The National Trust broke ground on a new Blue Iguana Conservation office and laboratory at the Queen Elizabeth II Botanic Park, adding a dedicated lab, education space and facilities to strengthen research and care. NAIC Insurance Bid: André Ebanks says Cayman has submitted an application for NAIC Qualified Jurisdiction Status, aiming to deepen US insurance and reinsurance engagement. Aviation Expansion: Cayman Airways will extend its nonstop Austin, Texas service and add a second weekly flight in peak periods through 2027. Digital Assets & Compliance: Nigeria’s SEC admitted Blockchain.com into its regulatory sandbox and ordered capital market operators to freeze assets tied to designated terrorism financiers. Crypto Exchange Presence: BTCC, a Cayman-based exchange, announced Platinum sponsorship of TOKEN2049 Singapore with its “0-Barrier Trading” theme. Industry & Food Security: Trinidad and Tobago’s Farmers’ Union warns chicken shortages could return in 6–12 months without long-term poultry sector fixes, including biosecurity and cost pressures.

Cayman Housing Reform: The Cayman Islands Government has opened a public consultation on draft Residential and Tenancies (Amendment) Bill, 2023, seeking feedback until 20 September before deciding whether further changes should progress—aimed at tackling the housing crisis and updating outdated 2009 law. Transport Procurement Delays: The Ministry of Planning, Lands, Agriculture, Housing and Infrastructure has pushed back key steps toward a modern national transport system, including delayed consultant procurement for the Final Business Case and full system design, citing the need for internal approvals. Cancer Screening Standardisation: Cayman published its first National Cancer Policy to standardise prevention and screening—covering bowel, female breast and cervical cancer—with guidance aligned to UK NICE standards. Blue Iguana Conservation Boost: The National Trust broke ground on a new Blue Iguana Conservation office and laboratory at the Queen Elizabeth II Botanic Park, adding a dedicated lab, education space and collections room to strengthen care and research. Local Skills Pipeline: Dart’s Work-X programme placed 31 Caymanian students into hands-on projects across 13 business areas, including an IT booking solution for Bonny Moon. Industry & Business Watch: Cayman-based Candle Lake has launched a mandatory cash offer for Evolution AB, while Cayman Airways will expand its nonstop Grand Cayman–Austin service for longer periods next year.

Insurance & Regulation: Cayman’s Premier André Ebanks leads a delegation to the US NAIC meeting in Columbus, with the Islands having submitted an application for Qualified Jurisdiction Status—aimed at strengthening insurance and reinsurance ties with US regulators. Housing Policy: The Cayman Islands Government has opened consultation on draft Residential and Tenancies (Amendment) Bill 2023, seeking public input before updating outdated 2009 legislation tied to the housing crisis. Transport Procurement: The Ministry of Planning has delayed key steps in the procurement timetable for consultants to deliver a final business case and full design for a modern national transport system, citing internal approvals. Healthcare Policy: Cayman published its first National Cancer Policy to standardise prevention, screening and care, starting with bowel, female breast and cervical screening. Conservation & Education: The National Trust broke ground on a new Blue Iguana Conservation office and laboratory at the Queen Elizabeth II Botanic Park, adding a dedicated lab, education space and research facilities. Aviation & Tourism: Cayman Airways will expand its Grand Cayman–Austin service, extending the season and adding a second weekly flight from May 2027 through August 2027. Industry & Skills: Dart’s 2026 Work-X programme placed 31 Caymanian students into hands-on projects across 13 business areas, including engineering, finance, IT and hospitality. Crypto & Finance (Global, Cayman-linked): BTCC announced it will sponsor TOKEN2049 Singapore as a Platinum Sponsor, while Cayman-linked Candle Lake launched a mandatory cash offer for Evolution AB; Osiris also entered the Guernsey fiduciary market after securing licences.

Housing & Tenancies Reform: The Cayman Islands Government has opened a public consultation on draft Residential and Tenancies (Amendment) Bill, 2023, seeking feedback before updating outdated 2009 legislation as part of its housing crisis response, with the consultation running until 20 September. Transport Procurement Delays: The Ministry of Planning, Lands, Agriculture, Housing and Infrastructure has pushed back key procurement for consultants to deliver the Final Business Case and full design for a modern national transportation system, citing the need for internal approvals, and also delayed plans to merge transport bodies into a single department. Cancer Care Standardisation: Cayman published its first National Cancer Policy to standardise prevention, screening, early detection, diagnosis and ongoing care, including agreed screening ages and methods for bowel, female breast and cervical cancer. Cayman Airways Route Expansion: Cayman Airways will extend its nonstop Grand Cayman–Austin service, adding a second weekly flight from 26 May 2027 and running the expanded schedule from 20 December through the end of August next year. Insurance Regulation Push: Premier André Ebanks is leading a Cayman delegation to the NAIC summer meeting in Columbus, Ohio, where Cayman has submitted an application for Qualified Jurisdiction Status. Blue Iguana Conservation: The National Trust broke ground on a new Blue Iguana Conservation office and laboratory at the Queen Elizabeth II Botanic Park, adding a dedicated lab, education space and collections room to support the programme’s 36-year work. Industry & Food Security Watch: Farmers’ Union warnings from the region say chicken shortages could return in 6–12 months if poultry sector issues aren’t addressed, with biosecurity and rising costs highlighted. Regional Cement Exports: Caribbean Cement says it may restart regional exports as early as September, targeting the Cayman Islands and The Bahamas once Jamaica’s demand is met. AI Buildathon Momentum: Future Caribbean reports 450-plus builders from 39 countries developing production-ready agentic AI solutions across sectors including logistics and food systems. Digital Finance & Markets: Ethena appointed FalconX as an institutional lending partner for overcollateralised stablecoin credit facilities, while Cayman-based Bullish reported Q2 results and Toobit promoted zero-fee spot trading and copy-trading tournaments.

Housing & Tenancies Reform: The Cayman Islands Government has opened a public consultation on the draft Residential and Tenancies (Amendement) Bill, 2023, seeking feedback before any changes move through the policy and legislative process, with the consultation running until 20 September. Transport Procurement Delays: The Ministry of Planning, Lands, Agriculture, Housing and Infrastructure has pushed back key procurement steps for a modern national transportation system, citing the need for internal approvals, including work on a final business case and system design. AI & Regional Innovation: Future Caribbean says 450-plus builders from 39 countries have entered the build phase of its Agentic AI Buil­dathon, targeting production-ready solutions across areas including logistics, food systems, energy and climate resilience. Cancer Care Standardisation: Cayman has published its first National Cancer Policy to standardise prevention, screening and care, starting with bowel, female breast and cervical screening. Conservation & Education: The National Trust broke ground on a new Blue Iguana Conservation office and laboratory at the Queen Elizabeth II Botanic Park, adding a dedicated lab, education space and collections room. Insurance Regulation Push: Premier André Ebanks leads a Cayman delegation to the NAIC summer meeting in Ohio and says Cayman has submitted an application for Qualified Jurisdiction Status. Aviation Connectivity: Cayman Airways will expand its nonstop Austin service, extending the season through winter and adding a second weekly Wednesday flight during peak summer demand. Digital Assets & Markets: Bullish reported Q2 results, while Toobit highlighted spot growth after launching zero maker/taker fees and announced an August copy trading tournament with a 150,000 USDT prize pool.