Isle of Man

 
Total number of active captives
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Number of individual cells/cell participants
2
Total number of active captives, prior year
109
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
Premium tax rate
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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.

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 and also within department
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Time given for application process
4 - 12 weeks approximately
Regulator
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Address and contact information of Regulatory Department
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Website Address
https://www.iomfsa.im