Protected Cell Companies

PCCs are an established part of the international financial framework, with a variety of applications ranging from insurance and special purpose vehicles to fund administration and wealth management. The PCC concept was pioneered in Guernsey in 1997 and has become the key low cost entry mechanism into the world of self–insurance. The structure allows smaller organisations to access the benefits of captive insurance without the need to establish and maintain their own licensed insurance company.

PCCs are a single legal entity comprising a ‘core’ and a number of satellite cells. Both the cells and the core are legally separate from each other in terms of their assets and liabilities and can therefore be owned by independent organisations, whilst operating under the umbrella of the core company. Many of the advantages of captives apply to PCC cells but with a reduced cost of entry as well as lower minimum capital requirements and management time.

Because of this, PCC cells provide an ideal solution for organisations that:

have a typical minimum annual premium spend of £250,000
possess significant uninsured risks
would find it inefficient to operate its own captive insurance company

Larger organisations and intermediaries may find it more attractive to establish their own PCC, which they can market to third parties or structure to ring fence areas of risk within their own businesses (such as different operating companies or joint ventures).

HIM has the following in–house cell companies for use by our clients:

Mannequin Insurance PCC Ltd
Harlequin Insurance PCC Ltd (both domiciled in Guernsey)
Harlequin Insurance (Bermuda) SAC Limited (domiciled in Bermuda)

HIM also has access to — and an agreement to promote — Euroguard PCC domiciled in Gibraltar, with the ability to write EU business on an admitted basis, as well as a PCC in Malta.

Heritage Group Limited, PO Box 225, Heritage Hall, Le Marchant Street, St Peter Port, Guernsey, GY1 4HY. Telephone: +44 (0) 1481 716000 Regulations