en     ru     jp
 
 
private banking
private banking
private banking
private banking
private banking
private banking
private banking
     
 
Home
      
Knowledge Base
      
Insurance Solutions
      
Segregated Portfolio Company (SPC)
       
 
Back

Segregated Portfolio Company (SPC)

 Search definitions     
  Search  

Segregated Portfolio Company (SPC)
The SPC may create one or more segregated portfolios. A segregated Portfolio is a Portfolio containing assets and liabilities that are legally separated from the assets and liabilities of the SPC's ordinary account, usually referred to as the “general account” and from other segregated portfolios within the SPC.

Each segregated Portfolio needs to be separately identified or designated and is required to include in such identification or designation the words “Segregated Portfolio”.
Assets linked to a segregated Portfolio must be held by the SPC as a separate fund which does not comprise an asset of the general account. The fund is to be held for the benefit of Portfolio owners and is available to meet the claims of Portfolio owners. It is not available to meet the SPC’s obligations to general shareholders or those creditors whose claims are not linked to the same segregated Portfolio.

The assets must be separately identifiable from assets of the SPC itself and other segregated portfolios. Under the law, the Directors of the SPC are charged with the responsibility to establish and maintain procedures designed to segregate, and keep segregated assets attributable to different portfolios from each other as well as from the general assets of the SPC.
Posted by  LISA Life Insurance Settlement Association
 
  Back  
  Print  
  Email  

 

private banking
private banking
private banking
private banking
private banking
private banking
Get Adobe Flash Player to view the media
FlashPlayer required to view the media

 
Home News Library Newsletters Event Calendar Advertise About Contact FAQ
Privacy Policy     Terms of Service
 

©