Securely maaged isurace solutios Protected Cell, Icorporated Cell ad Segregated Accout facilities
About us White Rock is a uique ad leadig group of isurace ad reisurace vehicles with operatios i a umber of key domiciles icludig Bermuda, Gibraltar, Guersey, Isle of Ma ad Malta.
Owed by Ao, the White Rock Group offers cliets a diverse suite of isurace solutios through utilisatio of Protected Cell, Icorporated Cell ad Segregated Accout facilities. Ao s leadership i this field is demostrated by our iovative approach to these structures ad our tightly cotrolled goverace framework which esures that our cliets iterests are well protected. White Rock was the first group to form a Protected Cell Compay, the first to form a Icorporated Cell Compay ad is costatly seekig to adapt its structures ad domicile ifrastructure to meet cliet eeds.
Retaied Cells White Rock offers Segregated Accout, Protected or Icorporated cell facilities where each isured s busiess is legally segregated from all other cells i the chose vehicle. These cells ca be used by cliets who wish to have a direct-writig, or reisurace facility without the eed to establish a separate compay. Typically, this solutio may suit small ad medium sized compaies where there are cost efficiecies compared to a stad-aloe captive, or larger orgaisatios that wat to reduce the maagemet time ad admiistratio associated with captive owership. Beefits A effective alterative to a stad-aloe captive, the beefits of which iclude: - Risk maagemet focus ad the ability to stabilise losses over time - Direct reisurace market access icludig potetially additioal capacity - Flexibility i programme desig Coverage may be available i the reisurace market that is ot available from direct isurers facilitatig partial risk trasfer optios Access to terrorism pools Speed of set up ad exit Prove experiece i udertakig these trasactios Cell 6 Cell 5 Priciples of a PCC Cell 1 White Rock PCC Core Cell 4 Cell 2 Cell 3
Frotig White Rock assists cliets who eed licesed isurace i the Europea Ecoomic Area (EEA) to access reisurace markets or captives. White Rock ca write all o-life classes of busiess, except for compulsory classes, withi the EEA uder Freedom of Services ad ca also issue o-admitted isurace cover i territories where it is permissible to do so. Whe a cell is domiciled withi the EEA, it ca provide cross-border services ito EEA States i accordace with the Europea Directive o Freedom of Services kow as passportig. All frotig cells operate with the support of 100% reisurace for all risks that they write ad as such, the cell retais o risk. Also, pure frotig solutios mea there is o eed for the isured to have ay owership or cotrol over the activities of the cell. Furthermore, as the solutio is a Protected Cell the credit risk to the isured is effectively the credit risk of the reisurer or reisurace pael. Beefits More cost effective tha usig a traditioal frotig optio No owership by cliet required Access to coverage that may be available i the reisurace market that is ot available from direct isurers Access to reisurace market ca reduce the overall cost of premiums Access to terrorism pools Speed of set up Prove experiece i udertakig these trasactios Ability to tailor policy terms ad coditios Speed of paymet of reisurace premiums Favourable collateral terms
Ru-Off ad Fiality Solutios White Rock offers rump warehousig solutios for example: whe a captive ower decides to exit the market, very ofte they fid that they caot fid acceptable market terms to do so for all of the risks the captive has uderwritte. As a result the captive ower is forced to maitai the etity, icurrig the cost ad maagemet time required util such time as the uderlyig market coditios chage. This ca be avoided where the reserve block i questio ca be trasferred to a cell. I this case all isurace related reserves ca be removed from the captive s balace sheet ad the compay ca be closed. Beefits The aual cost ad maagemet time ivested i ruig the captive is elimiated Cotrol over the reservig ad claims maagemet process is maitaied Reserves ca develop util a viable market solutio ca be foud
Why Gibraltar? Through Gibraltar s membership withi the Europea Uio (EU), isurers ca beefit from passportig rights uder the EU s Freedom of Services Directive. These rights allow a Gibraltar isurer to isure risks directly i other Europea Ecoomic Area (EEA) jurisdictios which covers all 27 EU Member States as well as Norway, Icelad ad Liechtestei. Gibraltar passed its PCC legislatio i July 2001 ad therefore was the first EU/EEA jurisdictio where such a compay structure was eshried i statute. White Rock Gibraltar was set up i 2002 ad has maaged more tha 50 protected cells. It is the largest EU-based PCC. The Gibraltar Fiacial Services Commissio (FSC) is resposible for the licesig, regulatio ad supervisio of isurace providers. Cell applicatios are typically authorised withi two to three weeks.
About Ao Ao plc (NYSE:AON) is the leadig global provider of risk maagemet, isurace ad reisurace brokerage, ad huma resources solutios ad outsourcig services. Through its more tha 62,000 colleagues worldwide, Ao uites to empower results for cliets i over 120 coutries via iovative ad effective risk ad people solutios ad through idustry-leadig global resources ad techical expertise. Ao has bee amed repeatedly as the world s best broker, best isurace itermediary, reisurace itermediary, captives maager ad best employee beefits cosultig firm by multiple idustry sources. Visit ao.com for more iformatio about Ao. Cotacts - Gibraltar Dermot Fierty Maagig Director t: +350 200 66943 e: dermot.a.fierty@ao.com Vicet Barrett Group Maagig Director t: +353 86 8188595 e: vicet.barrett@ao.ie thewhiterockgroup.com Ao UK Limited is authorised ad regulated by the Fiacial Coduct Authority. Registered Office: 8 Devoshire Square, Lodo, EC2M 4PL Registered i Lodo No.210725 VAT Registratio No.480 48 Copyright 2013 by Ao UK Limited. All rights reserved. FP 7941