The long-awaited Incorporated Segregated Accounts Companies Act
2019 was tabled in the House of Assembly on September 27.
The ISAC Act is a stand-alone piece of legislation and a
companion statute to the Segregated Accounts Companies Act
2000.
The introduction and development of uses of the segregated
accounts company concept by the Bermuda re/insurance industry has
enhanced the island's standing as an offshore jurisdiction.
Moreover, the use of SACs has been expanded to include areas
such as the funds industry.
Purpose-built to cater for the needs of existing and future
Bermuda business partners, the new legislation will serve to
provide individual industry players with yet another compelling
reason for choosing to domicile their businesses on the island.
