The Global - 2026 Q3 Review

Commingling of Risks: The New Flavour of the Cat Bond Market

As catastrophe bond sponsors grow more confident with the asset class, companies are increasingly combining different peril structures within individual transactions, all of which leads Brad Adderley, Managing Partner at law firm Appleby, to say that this commingling of risks is becoming the new flavour of the cat bond market.

Brad Adderley

Guide to Blockchain & Crypto-Assets in the British Virgin Islands 2026

The BVI Blockchain & Crypto-Assets 2026 guide provides the latest legal information on the evolution and regulation of these markets, licensing and set-up requirements for businesses, cross-border services, defi considerations, and information on payments and stablecoins, as well as tokenisation and real-world assets.

Andrew Jowett, Patrick Gill, Jack Igglesden

CIMA’s 2026 Reinsurance Thematic Review: Focus Points for Boards

The Cayman Islands Monetary Authority (CIMA) has published its 2026 Thematic Review of Reinsurance Companies (Thematic Review). This reflects fieldwork conducted by CIMA between mid-2025 and Q1 2026 at selected Class B(iii) and Class D licensed reinsurers. The focus being on compliance with the Insurance Act (as revised) and other applicable legislation, regulations, rules and statements of guidance as issued by CIMA centering around stress-testing, cash flow testing frameworks, capital and collateral adequacy management, and corporate governance. Corporate governance weaknesses account for 68% of all findings with the remaining 32% spread across stress-testing, cash flow testing capital and collateral adequacy. Notwithstanding these findings, CIMA has noted several good practices across all areas including, importantly, comprehensive risk management frameworks covering key risk areas and strong capital and collateral adequacy monitoring processes. With Cayman’s reinsurance sector having grown to an institutional scale, and over 110 licensed reinsurers writing in the order of US$30 billion in annual premiums against over US$100 billion in assets, this latest Thematic Review demonstrates development in CIMA’s supervisory expectations of Cayman’s licensed reinsurers. It represents a reflection of the jurisdiction’s increasingly sophisticated and maturing reinsurance market and reinforces that CIMA’s expectations align closely with the standards that onshore counterparty cedants, rating agencies and US state regulators already expect. We take this opportunity to review certain of the key findings alongside CIMA’s cross-sectoral 2026 Thematic Review on Outsourcing, note some of the good practices highlighted by CIMA and make some associated recommendations for Cayman reinsurers.

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Jacob MacAdam, Martin Byers, Simon Raftopoulos, Dean Bennett, Miriam Smyth

AI in Risk and Compliance: Mind the Expectation Gap

Appleby Partner Simon Florance explores the use of AI in risk and compliance.

Simon Florance

Comparative Analysis of Cayman and BVI Companies as Listing Vehicles

This article provides an in-depth company-law comparison of the advantages and disadvantages of Cayman Islands and BVI companies as listing vehicles, with a view to assisting businesses in selecting the appropriate jurisdiction of incorporation for their listing vehicle.

Calamus Huang

Guide to Fintech Law in the Isle of Man 2026

Appleby's guide to fintech law in the Isle of Man provides an overview of fintech laws and regulations in the jurisdiction – including the current fintech landscape, funding for fintech, regulation, other regulatory regimes/ non-financial regulation, and technology.

Claire Milne WS

Jersey’s High Value Residency Regime Enters a New Era

A revised Control of Housing and Work ("CHW") regime marks the most significant reform of the Island's High Value Residency framework in many years. Find out more

Jeff O’Boyle, John Bisson, Kate Westwater, David Dorgan

From E-Signatures to AI-Driven Contracts: How Mauritius is rewriting the Rules of Digital Transactions

The Electronic Transactions (Amendment) Act 2026 (Amendment Act) marks an important development in Mauritius’ digital legal framework. Its significance goes beyond the further recognition of electronic signatures. The amendments address a broader question: how should legal rules designed for paper-based commerce operate in an environment where transactions, records and increasingly contractual decisions are created, transmitted and stored electronically?

Malcolm Moller, Manisha Lallah

The Seychelles Financial Services Authority IBC Restrictions Reminder: Circular No. 5 of 2026 and What It Signals for Seychelles IBCs

Supervisory bodies rarely issue formal reminders purely for housekeeping. When the Seychelles Financial Services Authority (FSA) steps in to remind International Business Companies (IBC) of prohibitions that have sat in the statute books since 2016, it reflects a straightforward reality: surveillance and market monitoring have exposed widespread non-compliance on the ground.

Malcolm Moller