Aon has instigated the development of White Rock Insurance (Guernsey) ICC – resulting from new legislation passed in Guernsey and Jersey earlier this year.

ICCs comprise multiple incorporated and registered cells that are separate legal entities in their own right. ICCs differ from protected cell companies (PCCs) in three ways:
● Insurance or other contracts to be written between incorporated cells.
● Simpler conversion of an incorporated cell into a fully fledged captive.
● More flexible underwriting and risk retention.

Chris Le Conte, managing director of Aon in Guernsey, said: “We are delighted to be leading the way in the captives market once again and expect many clients will benefit from this innovative structure. Our PCC vehicle has provided a fantastic tool for a wide range of clients since its formation and with the new ICC our ability to provide tailored solutions to clients has been further enhanced.

Incorporated cells act as a middle ground between the stand alone captive and the protected cell concept and will suit clients seeking to retain or manage risks in an efficient and flexible yet controlled manner. We expect it to be actively writing business within the next quarter.”