AGP Executive Report

Insurance & Captives: CIMA revoked Progressive Grocers Insurance SPC’s Class B(ii) licence effective 1 September after missed licence fees/penalties, solvency and capital shortfalls, and failure to file audited 2024 financials—though the firm can appeal to Grand Court. Reinsurance Governance: Greenlight Capital Re named John Welch as an independent director, adding actuarial and underwriting experience to the board alongside Ariel Warszawski. Tech & Startups: Eightpoint Technologies joined Enterprise Cayman and DMZ as a Programme Partner for the 14-week Launch Labs Incubator (Sept 1–Dec 4), backing ventures across tech, fintech, AI and consumer solutions. Tourism & Travel Services: Cayman welcomed 333,747 stayover guests Jan–July (+11%); July alone saw 45,053 stayovers (+10%), while cruise passenger numbers fell 23% in July. Cayman Airways also rolled out Protect Group’s Refund Protect across all routes and markets. Healthcare Workforce: Doctors Hospital launched a two-year apprenticeship programme for young Caymanians, targeting support roles across marketing/business development, supply chain and information systems. Housing Oversight: The Auditor General’s affordable housing report says Caymanians face a widening affordability gap and criticises value-for-money and oversight across 2019–2024.

Healthcare & Regulation: Mervyn Conolly retires after 45+ years, including leadership roles in Cayman’s hospital expansion and health insurance regulation. Insurance Oversight: CIMA revoked Progressive Grocers Insurance SPC’s Class B(ii) licence effective 1 Sept, citing unpaid fees/penalties, solvency margin shortfalls, and missing audited statements; the firm can appeal to Grand Court. Tourism & Hospitality: Cayman logged record stay-over growth—333,747 overnight guests Jan–July (+11%)—with July stay-overs up 10% and hotel performance strengthening (occupancy +9.4%, ADR +7.6%). Aviation Services: Cayman Airways partners with Protect Group to roll out “Refund Protect” across all routes and markets. Housing Accountability: The Auditor General released a report on government’s affordable housing approach (2019–2024), highlighting a widening affordability gap and value-for-money concerns. Local Business & Talent: Doctors Hospital launches a two-year apprenticeship programme for young Caymanians across support roles (marketing, supply chain, information tech). Cayman Finance & Markets: Eightpoint Technologies joins Enterprise Cayman and DMZ as a Programme Partner for Launch Labs; Greenlight Capital Re adds new independent directors. Tech & Crypto: Toobit is featured in CoinGecko’s 2026 security report; Bit Origin rebrands to SANGRIX (Cayman-incorporated) ahead of a Nasdaq ticker change. Critical Minerals: NT1 plans a $500m merger with Plutonian Acquisition Corp II, with the combined entity set to list on NYSE.

Reinsurance Governance: Greenlight Capital Re appoints John Welch as an independent director, adding fresh underwriting and actuarial experience to its board after Ariel Warszawski’s election. Critical Minerals Deal: NT1 Pty Ltd has signed a merger agreement with Plutonian Acquisition Corp II, setting up a Cayman Islands exempted company structure and a planned 2027 close tied to rare earth and other minerals exploration. Aviation Customer Service: Cayman Airways partners with Protect Group to roll out “Refund Protect” across all routes and markets, giving passengers enhanced refund terms at checkout. Housing Affordability Check: The Auditor General says housing remains unaffordable for most Caymanians and that government programmes have not delivered favorable value for money, while government points to its new policy and 10-year plan as the next step. Tourism Numbers: July stayover arrivals hit 45,053 (+10% year over year), marking a ninth straight month of growth, with cruise passenger totals down but still ahead year to date. Local Skills Pipeline: Doctors Hospital launches a two-year apprenticeship programme aimed at growing Cayman’s next healthcare workforce through supervised placements in support roles. Driving Fees Update: Revised DVDL fee structure takes effect 1 September, reducing non-Caymanian licence differentials and offering Caymanian discounts for longer-term licences. Cayman Captives Spotlight: Captive Review Cayman Awards 2026 nominations open, with entries closing 27 September. Healthcare Education: UCCI’s STEM Summer Camp marks its 10th anniversary with hands-on robotics, renewable energy, and science projects for ages 10–13.

Aviation & Travel Flexibility: Cayman Airways is rolling out “Refund Protect” with Protect Group, letting passengers request refunds for qualifying unforeseen circumstances across all routes and markets, including via the mobile app. Local Governance & Housing: The Auditor General says housing remains unaffordable for most Caymanians and that government programmes aren’t delivering favorable value for money, as a separate government response points to ongoing implementation of housing reforms. Tourism Performance: Cayman welcomed 45,053 stayover visitors in July 2026 (+10% year-on-year) for a ninth straight month of stayover growth, while cruise passenger numbers dipped in July but stayed ahead year-to-date. Workforce Development: Doctors Hospital launched a two-year Apprenticeship Programme for young Caymanians, combining coursework with supervised placements in support roles across departments including supply chain and information tech. Industry Recognition: Cayman Motoring Federation won the FIA José Abed Award for STEM Racing Cayman Islands, highlighting motorsport education and youth STEM pathways. Corporate & Finance: Bit Origin rebranded to SANGRIX Inc. and will trade on Nasdaq under “SGRX,” while Cayman-linked investment and reinsurance items included Captive Review Cayman Awards 2026 nominations opening and a Bermuda life reinsurance sidecar market update.

Healthcare & Workforce: Doctors Hospital launched a two-year Apprenticeship Programme for young Caymanians, combining coursework with supervised placements in support roles across Marketing & Business Development, Supply Chain Management and Information Services. Housing Affordability: The Auditor General says government housing programmes aren’t delivering value for money and that rents and prices have outpaced incomes, leaving many Caymanians priced out. Tourism & Jobs: Cayman recorded its ninth straight month of stayover growth, with 45,053 visitors in July (+10% year-on-year) and 333,747 stayovers Jan–Jul (+11%). Motorsport Education: Cayman Motoring Federation won the FIA José Abed Award for STEM Racing Cayman Islands, highlighting engineering and teamwork pathways for students. Cruise Construction: Oceania Cruises floated out its next-gen Oceania Sonata in Italy, a major milestone ahead of an August 2027 debut. Local Policy & Fees: Revised driving licence fees take effect 1 September, reducing non-Caymanian rates and adding longer-term discounts for Caymanians. Cayman Finance & Markets: A report notes hedge funds are emerging as major U.S. Treasury holders, amplifying bond-market volatility—Cayman is cited among top holders.

Cayman Housing Watch: The Office of the Auditor General says Cayman’s affordable housing push hasn’t delivered value for money, citing a widening affordability gap as rents and mortgage costs rise; Government replies that its 2025 policy and 10-year plan are already underway and built from broad consultation. Driving Licence Fees: Revised DVDL fee changes take effect 1 September 2026, cutting non-Caymanian full licence fees and adding discounts for Caymanians buying longer-term licences. Captive Insurance Spotlight: Nominations are open for the 8th annual Captive Review Cayman Awards 2026, with entries closing 27 September. Cayman Industry & Finance: Symbiotic appoints Mahendran Nathan as Global Head of Onchain Solutions, while NAIC adopts a new C-1 life RBC framework for CLOs—both signals of shifting risk and capital rules. Local Business & Skills: UCCI’s STEM Summer Camp marks 10 years, and Hello2Hired returns with a strong jobseeker turnout. Trade & Logistics: Port Authority executes specialized offshore cargo transfer in Grand Cayman.

Housing Oversight: The Office of the Auditor General says Cayman’s affordable housing programmes (2019–2024) haven’t delivered value for money, as rents and prices outpaced incomes, putting more pressure on Caymanians. Driver’s Licence Fees: Revised DVDL fee changes take effect 1 September 2026, cutting non-Caymanian full licence fees and adding discounts for Caymanians buying longer-term licences. Local Waste & Recycling: Cayman Brac recycling has restarted, but it still depends on residents sorting and driving to drop-offs, with no full pick-up plan in sight. Employment Pipeline: The Ministry’s Hello2Hired recruitment push brought 91 Caymanian jobseekers to a second event with 24 employers, aiming to turn turnout into real hires. STEM for Industry: UCCI’s STEM Summer Camp marked 10 years, training young Caymanians in robotics, renewable energy, 3D printing and hands-on science. Finance & Corporate: Greenlight Capital Re adds two independent directors; Cayman-incorporated NorthStrive Acquisition Corp begins separate trading of shares, rights and warrants on Nasdaq. Construction & Design: Jomai’s “Glory of Galaxy” wins Gold at the A’ Construction and Real Estate Projects Design Award.

Reinsurance & Governance: Greenlight Capital Re appointed John Welch as an independent director, adding fresh underwriting and actuarial expertise to its board. AI & Media Services: Baosheng BVI signed an AI cooperation framework with DirectBooking Technology to expand AI-enabled marketing, brand promotion, and direct-booking systems. Housing Oversight: The Office of the Auditor General says government affordable housing programmes (2019–2024) aren’t delivering value for money, as costs and rents rose sharply; Government welcomed the findings and pointed to its newer 10-year housing policy and plan. Driving Licence Fees: Revised DVDL fee structure takes effect 1 September 2026, cutting non-Caymanian full licence differentials and offering Caymanian discounts for longer-term licences. Local Employment: MCEI’s Hello2Hired event connected 91 Caymanian jobseekers with 24 employers across hospitality, finance, retail and more. STEM Pipeline: UCCI marked 10 years of STEM camps, with hands-on robotics, renewable energy, 3D printing and physics demos for ages 10–13. Recycling Update (Brac): Cayman Brac recycling has relaunched with drop-off sites and limited materials (PET/HDPE plastics plus cans/aluminium), but still no full pick-up plan. Crypto Market Pulse: Toobit’s HALLU presale sold out in just over a minute, followed by a spot trading rewards campaign. Industry Finance: NorthStrive Acquisition Corp I (a Cayman exempted company) begins separate trading of its shares, rights and warrants on Nasdaq from 2 September.

Crypto & Markets: Toobit’s HALLU token presale sold out in just over a minute, and the exchange is now running a HALLU spot trading rewards campaign. STEM & Workforce: UCCI marked 10 years of STEM Summer Camp with hands-on robotics, renewable energy, 3D printing, drones and liquid nitrogen demos, while MCEI’s Hello2Hired brought 91 Caymanian jobseekers to meet 24 employers and get interview and résumé support. Media & Leadership: Compass Media named Pilar Bush as its new publisher, starting 14 Sept, as the Caymanian executive moves from Chief of Staff in the Premier’s Office. Reinsurance & Fintech: Oxbridge Re said its team will attend Rendez-Vous de Septembre in Monte-Carlo as it pushes reinsurance growth and SurancePlus tokenized offerings. Corporate & Legal: Cayman-focused guidance continues as a Grand Court decision weighs board versus shareholder power in contentious requisitioned meetings. Environment & Waste: Cayman Brac recycling has relaunched with drop-off sites and limited plastics and metals, but residents still must sort and drive to bins. Shipping & Logistics: The Port Authority coordinated a specialised offshore ship-to-barge transfer to bring a Rheinmetall MAN HX60 logistics vehicle into Grand Cayman for the Regiment. Industry & Investment: Cayman-linked Zhen Ding Technology Holding is among overseas investors approved by Taiwan’s investment authorities, supporting PCB R&D and manufacturing. Real Estate Networking: The Chamber of Commerce is hosting a Panama real estate Business After Hours event featuring the Gran Central mixed-use development. Awards & Recognition: Nominations are open for the 2027 National Recognition Awards, with Financial Services as the theme.

Captive Insurance & Reinsurance: Yousif Capital Management’s director of sales and marketing, Dale McCann, says long-term client relationships are at the heart of its Captive Review “Investment specialist firm of the year” recognition, as the captive market keeps rewarding trust and specialist support. Reinsurance Strategy in Monaco: Oxbridge Re’s executive team heads to Rendez-Vous de Septembre in Monte-Carlo (Sept 5–9) to build on its reinsurance expansion and SurancePlus tokenization platform, after completing five tokenized reinsurance securities offerings in 2026. Cayman Corporate & Legal: A Cayman court ruling in Han Vision Holdings Ltd v Raffles Interior Ltd (No. 3) highlights how shareholder meeting procedures and board powers can decide corporate control fights. Capital Markets (Cayman SPACs): NorthStrive Acquisition Corp I (Cayman exempted company) will let unit holders separately trade shares, rights and warrants from Sept 2, while Southern Cross Acquisition II Corp closed its $76.5m IPO and JATT III Acquisition Corp closed its $69m IPO. Tech, Finance & Compliance: RYKI and the Cayman Islands Government partner to strengthen investigations and recovery of digital assets, supporting RCIPS and the Official Receiver with secure custody and conversion where needed. Local Industry & Jobs: Cayman’s Hello2Hired recruitment event brought 91 jobseekers together with 24 employers across hospitality, finance and retail, with added coaching support. Environment & Waste: Recycling has restarted on Cayman Brac (PET/HDPE plastics plus cans), but the island still lacks a comprehensive pick-up plan. STEM Pipeline: UCCI’s 10th STEM Summer Camp (ages 11–13) ran 17–21 August with hands-on robotics, drones, liquid nitrogen and coding activities.

Digital Finance & Crime Response: RYKI and the Cayman Islands Government have teamed up with RCIPS and the Official Receiver to provide secure custody and, when needed, conversion of digital assets tied to active investigations, targeting crypto fraud and ransomware. Capital Markets (Cayman SPACs): Southern Cross Acquisition II Corp. (SCATU) and JATT III Acquisition Corp. (JTTT) both closed IPOs in the Cayman Islands structure, raising $76.5m and $69m respectively as they line up future business combinations. Reinsurance & Regulation: AM Best says Bermuda—and to a lesser extent the Cayman Islands—are gaining reinsurance leverage as U.S. life/annuity ceding grows, but tighter NAIC capital rules could shape how far offshore expansion goes. Shipping & Logistics (Port work): The Port Authority coordinated a specialised offshore ship-to-barge transfer to move a MAN HX60 logistics vehicle into Grand Cayman for the Cayman Islands Regiment. Waste & Recycling (Brac update): Recycling has restarted on Cayman Brac with drop-off bins and limited materials (PET/HDPE plastics plus metal cans/aluminium), but there’s still no comprehensive pick-up plan. Cruise Construction (Caribbean link): Oceania Cruises’ new ship, Oceania Sonata, was floated out in Italy, with Caribbean sailings planned from Miami ahead of its August 2027 debut. Workforce Development: MCEI’s Hello2Hired event matched 91 Caymanian jobseekers with 24 employers across hospitality, finance, retail and more. Food Manufacturing (Regional exports): Jamaica’s Nations Choice is investing about $1bn in cold storage to expand manufacturing and exports, naming Cayman Islands among targeted markets.

Cruise Construction: Oceania Cruises floated out its new ship, Oceania Sonata, at Fincantieri in Italy—moving from dry dock to fitting-out ahead of an August 2027 debut, with Caribbean sailings planned. Local Workforce & Skills: Cayman’s Hello2Hired recruitment event matched 91 jobseekers with 24 employers across hospitality, finance and retail, while Passport2Success Cohort 41 graduated 15 young Caymanians after STEM-to-work readiness training. Waste & Recycling: Cayman Brac recycling has restarted, but residents still rely on self-sorting and drop-off points, with no comprehensive pick-up plan in sight. Port & Logistics: The Port Authority coordinated a specialised offshore ship-to-barge transfer to bring a new MAN HX60 logistics vehicle into Grand Cayman for the Cayman Islands Regiment. Digital Crime Response: RYKI and the Cayman Islands Government partnered with law enforcement to provide secure custody and conversion support for cryptocurrency-linked fraud and ransomware cases. Industry Finance: AM Best says Bermuda—and to a lesser extent Cayman—has gained reinsurance leverage as US life/annuity firms seek retirement solutions and offshore capital and risk management. Capital Markets (Cayman-linked): Cayman Islands exempted SPAC Southern Cross Acquisition II closed its IPO on Nasdaq under SCATU, adding another Cayman vehicle to US listings.

Cayman Waste & Recycling: Cayman Brac recycling has restarted, but residents still must sort and drive to drop-off sites; the programme currently covers PET/HDPE plastics plus metal and aluminium, with no comprehensive pick-up plan yet. Port & Logistics: The Port Authority coordinated a specialised offshore ship-to-barge transfer to move a MAN HX60 logistics vehicle into Grand Cayman for the Cayman Islands Regiment, highlighting local marine handling capacity. STEM & Workforce Pipeline: UCCI’s 10th annual STEM Summer Camp wrapped up with hands-on robotics, drones, forensics and liquid nitrogen activities for ages 11–13, building future talent for Cayman’s tech and engineering needs. Cruise Construction Watch: Oceania Cruises floated out its new Oceania Sonata in Italy, a major construction milestone that will feed Caribbean tourism demand from 2027. Digital Assets & Crime Response: RYKI and the Cayman Islands Government partnered with police and the Official Receiver to provide secure custody and conversion support for cryptocurrency-related fraud and ransomware cases. Local Employment: MCEI’s Hello2Hired event connected 91 Caymanian jobseekers with 24 employers across hospitality, finance and retail, with added coaching on interviews and résumés. Industry Finance & Reinsurance: AM Best says Bermuda—and to a lesser extent Cayman—are gaining reinsurance traction as U.S. life/annuity firms seek retirement solutions and capital relief, though collateral risk remains a watchpoint. Mining Under Sanctions: Antilles Gold’s Cuban project faces a U.S. sanctions test, with its Cayman Islands subsidiary seeking a U.S.-based investor to unlock ownership and keep the Nueva Sabana copper-gold work moving.

Cayman Waste & Recycling: Cayman Brac recycling has restarted, but residents still must sort and drive to drop-off points, with only PET/HDPE plastics plus metal and aluminium accepted—no full pick-up plan yet. Cruise Construction: Oceania Cruises floated out the new Oceania Sonata in Italy, moving it toward interior fitting ahead of an August 2027 debut, with Caribbean sailings planned. Local Jobs & Training: The MCEI’s Hello2Hired event matched 91 Caymanian jobseekers with 24 employers across hospitality, finance and retail, alongside interview and résumé support. Port & Logistics: The Port Authority coordinated a specialised offshore ship-to-barge transfer to bring a MAN HX60 logistics vehicle into Grand Cayman for the Cayman Islands Regiment. Digital Assets & Crime Response: RYKI and the Cayman Islands Government partnered with police and the Official Receiver to provide secure custody and, when needed, conversion of crypto tied to active investigations. Industry Finance: Cayman-linked SPAC Southern Cross Acquisition II closed a $76.5m IPO on Nasdaq, adding another Cayman exempted-company listing. Mining Under Sanctions: Antilles Gold’s Cuban project faces a U.S. sanctions test, with the Cayman Islands subsidiary seeking a U.S.-based investor to take at least 51% to keep work moving.

Recycling Restart in the Sister Islands: Cayman Brac has relaunched recycling, but residents still must sort and drive to drop-off sites, with only PET/HDPE plastics plus metal and aluminium accepted and no island-wide pick-up plan in sight. Port & Logistics Operations: The Port Authority coordinated a specialised offshore ship-to-barge transfer to move a MAN HX60 logistics vehicle into Grand Cayman for the Cayman Islands Regiment, highlighting how port infrastructure enables complex heavy cargo moves. Local Workforce Pipeline: The Ministry of Caymanian Employment and Immigration ran its second Hello2Hired event, bringing 91 Caymanian jobseekers together with 24 employers across hospitality, finance and retail, plus interview and résumé coaching. Cayman in Global Capital Markets: Southern Cross Acquisition II Corp (a Cayman exempted company) closed a $76.5m IPO on Nasdaq, adding another Cayman-linked listing to the market. Digital Crime Response: RYKI and the Cayman Islands Government teamed up to support RCIPS investigations by providing secure custody and, when needed, conversion of digital assets tied to fraud and ransomware cases. Industry & Trade Signals: Malaysia reported RM218.5bn in approved investments for 1H 2026, with the Cayman Islands listed among key foreign investment sources. STEM for Future Talent: UCCI marked 10 years of its STEM Summer Camp, with hands-on robotics, coding, drones and science activities for ages 11–13.

Cayman Digital Crime Response: RYKI, a licensed Cayman Islands digital asset custodian, has partnered with the Cayman Islands Government to help the RCIPS Bureau of Financial Investigation and the Official Receiver securely custody, safeguard and convert digital assets tied to active cases, aiming to speed recovery as crypto-linked fraud and ransomware rise. Cayman Finance & Compliance: Cayman’s role in offshore life reinsurance remains in focus as AM Best notes growing ceding interest in Bermuda and “to a lesser extent” Cayman, driven by retirement demand and capital/risk management needs—while also flagging recoverability and collateralization risks. Local Workforce & Tourism: The Ministry of Caymanian Employment and Immigration ran Hello2Hired at the Marriott, bringing 91 Caymanian jobseekers together with 24 employers across hospitality, finance and retail, with added interview and résumé support. STEM Pipeline: UCCI’s 10th STEM Summer Camp (ages 11–13) wrapped up after five days of hands-on robotics, drones, coding, chemistry and forensic science, reinforcing Cayman’s youth skills push. Port & Logistics: The Port Authority coordinated a specialised offshore ship-to-barge transfer to move a MAN HX60 logistics vehicle into Grand Cayman for the Cayman Islands Regiment, highlighting local marine coordination and infrastructure capability. Industry/Trade Signals: Nations Choice in Jamaica says it has invested about $1B in cold storage to expand hospitality supply and export manufactured frozen foods across the Caribbean, naming Cayman among target markets. Cruise Construction Watch: Oceania Cruises floated out its new Oceania Sonata in Italy, a milestone ahead of a 2027 debut that will include Caribbean sailings.