| Captives | 133 |
| Capitalization | Capital & Surrplus: £500,000 ($979,550) for long-term £150,000 ($293,865) for general £100,000 ($195,910) for reinsurance £50,000 ($97,955) for restricted Premium to Surplus: Restricted: £50,000, plus 10% of net written premium General, £150,000, or 15% of net written premium, whichever is greater Long term, £500,000 or the greater of 1% of actuarially assessed liabilities (nonlinked) or 0.25% of actuarially assessd liabilities (linked) Reinsurance: £100,000 |
| Registration & Incorporation Expenses | Fees: £1,500 ($2,939) application fee £3,250 ($6,367) annual license and renewal fee |
| Investment Restrictions | |
| Tax Issues | Taxes: Corporation tax rate for insurers is 0% |
| Applicable Acts | Laws: Insurance Act 1986 Insurance (Amendment) Acts 1993, 1995 and 2004 Protected Cell Companies Act 2004 |
| Tax Treaties | |
| Supervisory Jurisdiction | David A. Vick Chief Executive/Insurance Supervisor Isle of Man Insurance and Pensions Authority HSBC House Ridgeway St. Douglas, IM1 1ER Isle of Man Tel: 44 162-464-6000 Fax: 44-162-464-6001 ipa@gov.im www.gov.im/ipa |
| Reporting Requirements | |
| Reserve & Underwriting Requirements | |
| Local Office Requirements | |
| Estimated Number of Captives | 133 |
| Domicile URL | http://www.gov.im/ipa/ |
| Status | Active |
| News | |