Vital statistics:

Cell captive structures licensed in domicile (PCC, ICC, SAC etc):

PCC

Date cell captive legislation was passed:

2004

Name of cell captive law:

Protected Cell Companies act 2004

Total number of cell companies:

3

Total number of individual active cells:

7

Capitalisation requirements:

As per schedule 6 to the Insurance (Protected Cell Companies) Regulations 2004

Licensing Fees:

as per schedule 6 to the Insurance (Protected Cell Companies) Regulations 2004. Authorisation – £1,500 for a PCC; £750 for a cell. Annual fee – PCC carrying on Class 1 & 2 business, £12,500 plus an additional £12,500 per cell. for any other PCC, £3,250 plus 0.2% of net written premium of each cell - minimum £500; maximum £3,250 per cell per year. Maximum in the aggregate of £25,000

Tax regime for cell companies/cells:

Zero rated

Regulatory contact name:

Alan Rowe, Senior Regulatory Analyst

Regulatory contact details:

Non Life, Isle of Man Insurance & Pensions Authority, 4th Floor, HSBC House, Ridgeway Street, Douglas, Isle of Man, IM1 1ER. Tel: +44 (0)1624 646000; Fax: +44 (0)1624 646001; Email: alan.rowe@ipa.gov.im; Web: www.gov.im/ipa

PCCs in Isle of Man:

View manager contact details