Atlas Insurance PCC wins Best European Cell Captive Initiative

Atlas Insurance PCC’s cell business expertise was acclaimed internationally when it won Best Cell Captive Initiative for the 2016 edition of the European Captive Services Awards. Organised by Captive Review, the European Captive Services Awards reward firms and service providers in the insurance industry which demonstrated the highest levels of excellence over the past 12 months. The winners were announced during the award giving ceremony that was held in Luxembourg, back to back with the biennial European Captive Forum which brings together over 1000 industry stakeholders.

The judges commented: “The Maltese cell company specialists clearly showed a commitment to the protected cell company (PCC) structure and its innovative use for a range of clients. The judges were impressed by Atlas’ understanding and flexibility of PCCs, which is becoming particularly apt and more in-demand in a Solvency II world.”

Atlas’ CEO Michael Gatt praised his team and added: “This is yet another recognition of the expertise our team has built over the past decade in this specialized sector, having assessed and implemented a variety of direct third-party, reinsurance and captive cells. This is also recognised by leading global insurance management companies that use our independent facility for their clients with management outsourced back to them.”

As a full EU member state, Malta presents opportunities for cells to write risks directly across the single market. Small monoline insurers and captives have found cells to be a more efficient alternative to having standalone companies. Where otherwise the EU’s regulatory capital and governance requirements could be a barrier to entry for start-ups including InsureTechs, Atlas is enabling such new entrants into the European insurance market, catalysing innovation.

For more details visit www.atlaspcc.eu