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ARTICLE · 20 DECEMBER 2023

Converting A PIC To A Standalone Licensed Entity

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The Conyers insurance team regularly assists clients looking to convert their licensed insurer into a segregated portfolio company ("SPC") in order to separate their programs by cedents or lines of business into segregated portfolios...

Cayman IslandsInsurance
Frank Farrell
Frank Farrell
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The Conyers insurance team regularly assists clients looking to convert their licensed insurer into a segregated portfolio company ("SPC") in order to separate their programs by cedents or lines of business into segregated portfolios ("SPs"), as well as the establishment of portfolio insurance companies ("PIC") into which insurance programs originally written in SP are transferred. What is now becoming more common are PICs "cutting the cord" with their controlling relevant insurers and becoming standalone licensed entities.

We explore this process in more detail in this article. For general background information on SPCs and PICs check out the following links to our briefing papers on SPCs, PICs and to our explanatory video on PICs.

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