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The Cayman Islands Government has announced 1 the Cayman Islands has submitted an application to the US National Association of Insurance Commissioners (“NAIC”) for Qualified Jurisdiction Status (“QJS”).

Walkers has seen significant interest in the portfolio insurance company product, which is not surprising given that the PIC initiative was insurance sector-led.

Premier Assurance Group SPC Ltd. was licensed to offer insurance products through one if its segregated portfolios, ...

As of January 16, 2015, a new or existing SPC is able to incorporate one or more of its segregated portfolios by establishing a "portfolio insurance company" (PIC) under the SPC.

It will come as a relief to industry that the European Commission has confirmed there will be a one-year delay to the implementation date of the Packaged Retail and Insurance-based Investment Products regulations.

The Cayman Islands has formally applied for Qualified Jurisdiction Status with the NAIC, marking a pivotal moment for its insurance sector. As regulators advance significant changes to risk-based capital requirements for offshore reinsurance and intensify scrutiny of private credit investments, stakeholders face a transforming regulatory landscape that will reshape capital treatment and competitive positioning.

The Cayman Islands Monetary Authority's thematic review of reinsurance companies revealed that corporate governance weaknesses accounted for 68% of all identified deficiencies, with board oversight failures, sub-committee governance gaps, and inadequate segregation of duties emerging as critical areas of concern. What specific governance fundamentals must boards and management teams address to meet regulatory expectations and industry standards?

The Cayman Islands Monetary Authority ("the Authority") recently published a Private Sector Consultation Paper with a draft Rule and Statement of Guidance...

On Tuesday 28 June 2022, the Insurance (Amendment) Act 2022 (the "Amendment") was published in the Official Gazette having been brought as a bill before the Cayman Islands...

The introduction of the MDRs is part of the Cayman Islands' commitment to adopting OECD-style Model Rules.

The Cayman Islands Legislative Assembly recently passed an amendment to the Insurance Law permitting certain insurers formed as segregated portfolio companies to register portfolio insurance companies.