Isle of Man
- Total number of active captives
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- Number of individual cells/cell participants
- 2
- Total number of active captives, as of 12/31/2018
- 109
- Types of captives allowed
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- 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)
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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