Premier takes Cayman's US reinsurance qualification bid to Ohio regulators

Cayman's bid for US qualified jurisdiction status was the day's main financial services development. The Cayman Compass reported the Premier saying the bid should boost the islands' reinsurance industry, while the Cayman Independent said the recognition review has entered its next phase, with the first stage testing Cayman's framework for property and casualty reinsurance. The Caymanian Times reported that Premier and Minister for Financial Services and Commerce André Ebanks is in Columbus, Ohio this week engaging US government, policy and financial services stakeholders.

Elsewhere in financial services, the Cayman Independent reported Maples Group recording more than 250 new fund finance transactions in the first half, with NAV facilities gaining share, and separately noted MENA investors driving new demand for Cayman structures as Islamic capital expands. Cayman regulatory courses from FSI have gained CPD accreditation. IMAC has named Chris Norton and Eric O'Neill as keynote speakers for the Cayman Captive Forum, set for 1-3 December at The Ritz-Carlton, according to the Caymanian Times, which also reported the Ministry of Tourism and Trade Development has appointed a consultant to develop the islands' first Trade Development Framework.

On policy and planning, Cayman News Service reported government consultation on a Tobacco (Amendment) Bill that would ban all disposable vapes and sales to minors, and that Little Cayman landowners have objected to the UNESCO World Heritage bid, saying it has widened from marine areas to the whole island. Cayman Marl Road said a 24-apartment South Sound Road application returns to the Central Planning Authority after four years of adjournments, while the Compass reported the Grand Hyatt is reducing the height of its stone basket wall on West Bay Road.

The RCIPS is investigating a phishing scam using fraudulent overdue traffic fine texts, Cayman News Service reported, and has rolled out more bodycams after a two-year pilot. An index cited by the Cayman Independent places Cayman among the Caribbean territories most financially burdened by electricity costs.