First Vermont protected cell company for Artex Risk Solutions

Captive manager Artex Risk Solutions has launched its first Vermont protected cell company (PCC). Artex Risk Solutions said the PCC will provide organisations of all sizes and industries with an alternative platform to support their risk transfer needs.

“Artex Axcell PCC (Vermont) offers companies the ability to control their own insurance programme and experience the many benefits of captive ownership without the same cost and capital requirements of a wholly owned vehicle. Once clients experience a cell solution, they can also use it as a stepping stone to a single-parent captive,” said Artex Risk Solutions, a wholly owned subsidiary of Gallagher.

Additionally, the PCC gives cell participants the flexibility to choose between incorporated and unincorporated cell structures, access to reinsurance and capital market capacity, cash flow benefits, and much more, it added.

“PCCs have been one of the most important evolutions in the captive insurance marketplace in recent years, and we are thrilled to serve clients through our latest Artex Axcell PCC,” said Jennifer Gallagher, CEO of Artex, North America.

Barry White, executive vice-president, sales, analytics and advisory for Artex, North America, added: “With Vermont now established as the largest captive domicile globally, we selected Vermont as part of our US onshore strategy but also to complement our global offering.”