Pendragon Insurance Company SPC, Ltd

About Us

Insurance Business

Pendragon Insurance Company SPC, Ltd facilitates Segregated Portfolio Programmes which provides credit guarantee insurance supporting the issuance of fully secured debt instruments - which the Company refers to as Segregated Portfolio Obligation bonds.

Regulation

Pendragon Insurance Company SPC, Ltd was incorporated in the Cayman Islands in 2021 and is subject to regulation by the Cayman Islands Monetary Authority (“CIMA") as a Class Biii licensed insurer.

Segregated Portfolio Structure

As a Segregated Portfolio Company under Cayman Islands law Pendragon Insurance Company SPC, Ltd forms a dedicated Segregated Portfolio (also referred to as Protected Cells in certain jurisdictions) for each Segregated Portfolio Programme it underwrites.

Collateralised Reserves

Pendragon further segregates a portion of the assets of each Segregated Portfolio, placing the assets in a trust for the benefit of bond holders to collateralise and economically defease its insurance and bond repayment obligations.

Frequently Asked Questions

What insurance do you underwrite?

We provide collateralised credit guarantee insurance covering repayment obligations of Segregated Portfolio Obligation bonds.

Whose bonds will you insure?

We currently only insure bonds issued from a Segregated Portfolio of Pendragon Insurance Company SPC, Ltd.

Are you a regulated entity?

Yes, we are regulated as a Class Biii insurer by the Cayman Islands Monetary Authority. In addition as a "Relevant Financial Business" we are subject to the highest level of AML/ATF regulation. Each of our Segregated Portfolio Obligation Programmes has to be approved by the regulator.

How are your insurance obligations collateralised?

Each Segregated Portfolio collateralises its insurance obligations by placing assets in a dedicated Trust administered by a third party regulated trust company. Adequacy of the collateral is certified by an internationally recognised independent audit firm.