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Aon formed an insurance ICC
through its Captive Services Group, becoming the first
company to do so since ICC legislation came into effect in
Jersey in February and
Guernsey in May.
White
Rock Insurance (Guernsey) ICC will provide medium-size
companies with cost efficiencies over a stand-alone
captive and offers increased flexibility whilse allowing
for faster entry and exit.
Chris Le
Conte, managing director of Aon’s operations in
Guernsey, said:
“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.”
Clive
James, Group MD with overall responsibility for White Rock
said; “Aon’s White Rock group of companies is the leading
group of protected cell companies, segregated accounts
companies and now ICC vehicles worldwide with operations
in Guernsey,
Gibraltar,
Luxembourg
and
Bermuda.
“Aon was
the first company to form a PCC in 1997 and the launch of
the first ICC demonstrates how we have continued lead the
way in the innovative use of such vehicles ever since.”
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