Reproduced with permission of Walkers and Captive Insurance Times.)

Partner Ramesh Maharaj and associate Derek Stenson met with Becky Butcher of The Captive Insurance Times to discuss the popularity of the Cayman Islands Portfolio Insurance Company (PIC).​Walkers has seen significant interest in the portfolio insurance company product, which is not surprising given that the PIC initiative was insurance sector-led. The enabling legislation was specifically designed to allow Cayman Islands insurers established as segregated portfolio companies (SPC) to incorporate one or more of their segregated portfolios, also referred to as cells, as separate legal entities—PICs.