Types of captives

Finding solutions for captive requirements worldwide

Conventional Company

•    Wholly-owned by its parent, to insure the risks of its parent and possibly other subsidiaries
•    Governed by a board of directors, supported by Howden as insurance manager
•    Designed to achieve maximum control over a risk management programme
 

Protected Cell Company (PCC)

•    A single legal entity, comprising a “core” and a number of ring-fenced, protected “cells”
•    Designed to segregate the assets and liabilities of each cell from the others, thus protecting  each cell from the creditors of other cells or the core.
•    Operating expenses and start up costs ordinarily up to 30% less than those for a conventional company
•    Often a lower minimum capital requirement than for a conventional company
 

Incorporated Cell Company (ICC)

•    Based on similar principles to a PCC and provides the same segregated protection of assets
•    Each cell is a separately registered legal entity, incorporated on formation with its own memorandum and articles.
•    Each cell has its own board of directors
 

Segregated Account Company (SAC)

•    The Bermudian equivalent of the Guernsey PCC
•    The assets and liabilities of each Account are segregated from one another
•    Operating expenses and start up costs less than those for a conventional company