In this GCP Short, produced in partnership with Aon and HDIGlobal, and revealing more detail behind the new property group captive being established in the Cayman Islands.

Property Engineered Risk Insurance Limited (PERIL) has received a conditional licence from the Cayman Islands Monetary Authority (CIMA), and has been set up by Aon and HDI, as revealed by Captive Intelligence last week.

PERIL has 10 founding members and will be licensed as a Class B(i) captive in Cayman, managed by Aon and fronted by HDI.

Richard is joined by Tracy Williams, managing director of group captive solutions at Aon, Jason Tyng, vice president of the US Captive Solutions Group at HDI Global, and Timon Mueller, US property underwriting manager at HDI.

Tracy, Jason and Timon discuss the drivers for establishment of PERIL, why property group captives have typically been harder to get off the ground than those writing casualty lines and the kinds of companies they are expecting to join as members.

To read more about the formation of PERIL, read our exclusive Captive Intelligence story here.

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