Regulations and Guidance - Insurance Incorporated Cell Companies
The Incorporated Cell Companies Act 2010 provides a framework for the operation of incorporated cell companies on the Island. The use of incorporated cell companies is restricted to the carrying on of insurance business. However, provision exists within the Act such that, should it be considered desirable in the future, the use of incorporated cell companies can be extended to include other types of business.
With effect from 23rd June 2011, the Incorporated Cells Regulations 2011 and the Insurance (Incorporated Cell Companies) Regulations 2011 came into effect.
The Incorporated Cells Regulations 2011 make additional corporate provisions in relation to incorporated cell companies.
The Insurance (Incorporated Cell Companies) Regulations 2011 set out the requirements that must be observed by incorporated cell companies carrying on, or wishing to carry on, insurance business.
Pursuant to the Transfer of Functions (Isle of Man Financial Services Authority) Order 2015 (as amended), regulation 7 of the Insurance (Miscellaneous Amendments) Regulations 2015 makes consequential amendments to the Insurance (Incorporated Cell Companies) Regulations 2011 with effect from the 1 November 2015.
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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