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The Cayman Government has passed the Portfolio Insurance Companies Regulations

16 January 2015

 

Earlier today, the Cayman Islands Government brought into force Part 4A of the Insurance Law, 2010 and passed the Insurance (Portfolio Insurance Companies) Regulations, 2015, thereby allowing insurers formed as segregated portfolio companies ("SPCs") to enjoy the same benefits as incorporated cell companies in other jurisdictions.

 

Cayman's form of incorporated cell company ("ICC") legislation is thought to be more robust than other jurisdictions offering ICCs because the model operates squarely within fundamental and well-understood principles of corporate law.

 

Please do not hesitate to contact us with any questions or queries that you may have relating to the new legislation.

 

Below is a link to the full regulations.

The Cayman Islands Government (PIC) Regulations 2015