The choice of setting up a segregated account company (SAC) or an independent segregated account company (ISAC) depends on the goal and circumstances of the user, but should be carefully considered, according to session at the 2023 Bermuda Captive Conference.
Moderated by Kim Willey, senior counsel, ASW Law, the panel on ISACs versus SACs included Oceana Yates, SVP Captives, Davies, Marthinus Dreyer, senior manager, Deloitte and Michael Kenny, head of client services, WTW.
The panel pointed out that both types of companies have their pluses and minuses, depending on what exactly they were used for, with SACs having a different group structure to an ISAC.
Costs also differ between the two, with ISACs offering some economic efficiencies that SACs don’t.
The panel agreed that interest in ISACs is growing in Bermuda, but stressed that the choice depends on what makes sense for the captive.