Jeometri Insurance gets the green light from Guernsey regulators

Alpha Growth has announced that the Guernsey Financial Services Commission has granted a licence to Jeometri Insurance PCC, a protected cell company (PCC) to be managed by its subsidiary, Jeometri Insurance Managers (Guernsey) (JIM), under The Insurance Business (Bailiwick of Guernsey) Law, 2002, as amended.

The facility offers clients a ring-fenced entry point into captive insurance in Guernsey, the jurisdiction that pioneered the PCC structure and remains a global leader in captive insurance management and alternative risk transfer.

The company said that the key benefits of the Guernsey PCC structure include:

• Lower-cost captive insurance access: while the capital cost of a cell is the same as for a standalone insurer, administrative and governance costs are lower because they are centralised in the core and shared across all the cells within the PCC.

• Faster time to market: new cells can be formed more quickly than a standalone insurer can be licensed.

• Reduced administrative burden: governance and regulatory reporting are centralised under JIM's insurance management licence.

• Statutory ring-fencing: each cell's assets and liabilities are legally segregated from the core and every other cell.

• Scalable risk transfer: supports captive programmes, access to reinsurance and cover for niche or specialist risks.

Cell facilities have become an increasingly popular alternative to standalone captives, particularly for mid-market businesses.

Darren Wadley, managing director of JIM, said: “This licence is a natural extension of Jeometri's insurance management capability. It gives our clients a straightforward, well-governed route into captive insurance through Guernsey at lower cost and with less complexity than a standalone entity.”

The Jeometri Insurance PCC Limited facility is now open for new cells.

Did you get value from this story?  Sign up to our free newsletters and get stories like this sent straight to your inbox.