Isle of Man Finance

The Isle of Man is recognised as being one of the leading centres for captive insurance and has a strong reputation for attracting high quality captive business. The Island offers a broad range of captive management services, ranging from small local operations to representatives of the world’s leading captive management groups.

The Island has been a recognised captive domicile for almost thirty years. What’s more, the Island is extremely well placed to grow this business sector into the future, and it has the appetite and resources to achieve this. Few, if any, jurisdictions enjoy an equivalent combination of stability and success. Against this backdrop it remains in a strong position to offer alternative means of risk management. Protected Cell Company legislation has been in place for a number of years and Incorporated Cell Company legislation will be introduced shortly.

In a partnership approach, the Isle of Man Captive Association (“IOMCA”) and Isle of Man Finance commissioned an independent strategic review of the Island’s captive insurance sector. The resulting report confirmed the high quality of the captive insurance offering and pointed the way forward with a number of initiatives which are now underway. It also provided a mechanism for additional sector funding and a trigger for action, not least of which was our need to better publicise the stability, strength and appetite for innovation of the Island as a mature and extremely competitive captive insurance location.