Regulations and Guidance - Insurance

Protected Cell Companies

With effect from 31st March 2004, the Protected Cell Companies Act 2004 came into effect. The purpose of the Act is to provide a framework for the operation of Protected Cell Companies on the Island. Initially, the use of protected cell companies was restricted to the carrying on of insurance business. Provision was made within the Act such that, should it be considered desirable in the future, PCC use can be extended to include other types of business.

Also with effect from 31st March 2004, the Insurance (Protected Cell Companies) Regulations 2004 came into effect. These regulations set out the requirements that must be observed by PCCs carrying on, or wishing to carry on, insurance business. The Protected Cell Companies (Forms) Regulations set out the prescribed form of an application to be incorporated as, or converted into, a PCC.

A subsequent amendment to the Insurance (Protected Cell Companies) Regulations 2004 came into operation on 1st June 2005. This amendment had the effect of introducing a new class of restricted insurance business, Class 12A.

Copies of the above Act and Regulations may be viewed or downloaded from the table at the bottom of the page.

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