CICA > Domiciles > Isle of Man

Isle of Man

 
Compare
Year captive legislation was passed
Sign in to see more data
Total number of captives as of year-end 2022
Sign in to see more data
Total gross premium written and assets under management (AuM) as of year-end 2021
Gross premium: £1,000,000,000
Types of captives allowed
  • Single parent captives
  • Association captives
  • Group captives
  • Protected cell/segregated portfolio companies
  • Risk retention groups
  • Special purpose captives
  • Special purpose financial captives
Initial licensing and incorporating fees required by the domicile

?tooltip content

Sign in to see more data
Annual fees
Sign in to see more data
Premium tax rate
Sign in to see more data
Premiums to surplus
Premiums to solvency: restricted, £50,000 plus 10% of net written premium up to £2 million plus 5% of net written premium after £2 million; reinsurance, £100,000; general, £150,000 or 15% of net written premium, whichever is greater.
Minimum capital (broken out by type of captive)

Solvency requirements: restricted, £50,000; reinsurance, £100,000; general, £150,000. The Isle of Man is introducing a revised risk-based methodology for the calculation of capital and solvency requirements. The new framework is anticipated to be in place with effect from June 30, 2022.

Applicable Acts/Enabling Legislation
Insurance Act 2008; Insurance Regulations 2018; Insurance Fees Regulations 2018; Insurance (Protected Cell Companies) Regulations 2004; Insurance (Incorporated Cell Companies) Regulations 2011; Insurance (Limited Partnership) Regulations 2004; Insurance (Special Purpose Vehicles) Regulations 2015; Insurance (Supplementary Information) Regulations 2016.
Captive Administrator’s name and longevity in position
Sign in to see more data
Speed of licensing
8 - 12 weeks approximately
Regulator
Sign in to see more data
Address and contact information of Regulatory Department
Sign in to see more data
Website Address
https://www.iomfsa.im