White Rock launches PCC operation in Isle of Man

Aon was the first captive manager to form a PCC. PCCs are corporate entities in which the assets and liabilities of each cell are legally separated from each other. According to the broker such structures offer buyers a tight control framework and can be used across the globe.

PCCs are used by organisations that underwrite risks without the need to set up their own separate company or captive. Aon reckons that PCCs offer the same benefits as captives, but can be more cost effective to set up and run. They also can suit small and medium-sized companies or those that seek a shorter-term solution, said Aon.

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Andrew Tunnicliffe, Chief Operating Officer for Aon Global Risk Consulting, said: “This is part of our development and growth strategy for the White Rock brand. The Isle of Man was selected due to its reputation as a ‘can do’ captive domicile, its triple ‘A’ sovereign rating and its standing as an internationally responsible country as acknowledged by the IMF and other regulatory bodies.”