16/07/2012
The Cayman Islands has released a proposal to give segregated portfolio companies (SPCs) the same benefits as incorporated cell companies (ICC) in other domiciles.The Financial Services Legislative Committee (FSLC) and the Insurance Managers Association of Cayman (IMAC) were consulted over the new proposals.
Paul Scrivener said: "I am very excited about the prospect of this Bill ultimately becoming law and delighted to have been part of the development process.
PICs will not need to be separately licensed as insurance companies and, unlike traditional SPCs, the PIC will be a separate legal entity.
Under this legislation a PIC can easily transition into a captive. This allows companies to contract with other cells or PICs within the same SPC to facilitate reinsurance, quota sharing and pooling.
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The Captive Prospect Summit is a highly-exclusive, invitation-only, educational and networking event, designed specifically for the business needs of US based companies who are considering their first captive.
If you think you are eligible to attend the Summit, contact Jessica Jones at j.jones@captivereview.com, or call +44 (0) 20 7832 6571.
September 23-24, Sanctuary Resort, Phoenix, USA
The inaugural Multi-Latina Risk Management Summit, co-hosted by Captive Review and its sister publication, LatAm Insurance Review, will take place on 8-9 July 2013 at the fantastic Hilton Cartagena Hotel, Colombia.
The Summit is a highly-exclusive, invitation-only, educational and networking event for the C-level decision-makers and top risk managers from the leading coportations in Latin America's growing economies, specifically, Colombia, Chile, Peru, Uruguay and Panama, also widely known in the industry as 'the Multi-Latina'.
It’s been more than fifty years since Bermuda’s captive journey began and it is now well and truly a key player, with more captives setting up shop on the North Atlantic isle than anywhere else. Even though competition between domiciles is certainly heating up, particularly as the US tries to get a slice of the captive pie, Bermuda remains a heavyweight in the industry.
With employee benefits currently one of the most discussed topics within the captive industry, Marco Giacomelli of Generali Employee Benefits explains the opportunities EB offers and the need for increasingly sophisticated services.
