ARTICLE · 04 DECEMBER 2019

Bermuda Introduces Incorporated Segregated Account Companies

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The Incorporated Segregated Accounts Companies Act 2019 (ISAC Act) received assent on 26 November 2019, introducing a new company structure product – the incorporated segregated account company (ISAC).

BermudaCorporate/Commercial Law

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The Incorporated Segregated Accounts Companies Act 2019 (ISAC Act) received assent on 26 November 2019, introducing a new company structure product – the incorporated segregated account company (ISAC). This legislation has been developed to create a new and innovative product to meet the needs of business stakeholders in Bermuda. The jurisdiction originally developed segregated account companies (SACs) as a solution for the (re)insurance industry and saw the use of the concept grow beyond its original origins which enhanced Bermuda's attractiveness as an offshore jurisdiction. The ISAC Act is a standalone piece of legislation which complements the Segregated Accounts Companies Act 2000.

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