Dyoll Group Ltd.(DYOL)- Appointment of Temporary Manager from the FSC

The Financial Services Commission has appointed a temporary manager for Dyoll Insurance Company. The Board of Dyoll Gp Ltd., which is the parent company of Dyoll Insurance Company Ltd., supports the decision of the FSC. Over the past few weeks, the FSC, Dyoll Gp Ltd and a number of companies in the general insurance and broader financial services sector have been working together to inject new capital into Dyoll Insurance Company. This need for additional capital emerged as a result of claims stemming from the devastating impact of Hurricane Ivan on the Cayman Islands. The type of storm surge experienced in the Cayman Islands is estimated to occur every 500-1000 years, according to experts in the reinsurance sector.