Cayman Enterprise City Special Economic Zone and proposed Incorporated Cell Company legislation for the insurance sector
- ability to contract with other cells or PICs within the same SPC to facilitate reinsurance, quota sharing and pooling;
- a separate board of directors permitting governance flexibility;
- for counterparties unfamiliar with cells, a PIC may be more readily accepted than a cell;
- a PIC can easily transition to a stand-alone captive; and
- likely recognition as a separate legal entity for US tax purposes.
Published November 7, 2012
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