Insurance Protected Cell Companies / Incorporated Cell Companies

What is a PCC?

A protected cell company, or PCC, can be thought of as being a standard limited company that has been separated into legally distinct portions or cells. The revenue streams, assets and liabilities of each cell are kept separate from all other cells. Each cell has its own separate portion of the PCC's overall share capital, allowing shareholders to maintain sole ownership of an entire cell while owning only a small proportion of the PCC as a whole.

PCCs can provide a means of entry into captive insurance market to entities for which it was previously uneconomic. The overheads of a protected cell captive can be shared between the owners of each of the cells, making the captive cheaper to run from the point of view of the insured.

Incorporated Cell Companies

The Incorporated Cell Companies Act 2010, Incorporated Cells Regulations 2011 and Insurance (Incorporated Cell Companies) Regulations 2011 provide a framework for the operation of incorporated cell companies on the Island and set out the requirements that must be observed by incorporated cell companies carrying on, or wishing to carry on, insurance business. Copies of the Act and Regulations can be viewed or downloaded from here.

What is an ICC?

An incorporated cell company, or ICC, is based on the same principles as a PCC. It is a company which has the power to establish incorporated cells as part of its corporate structure but in an ICC each incorporated cell is a separate legal entity.