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ARTICLE · 26 MARCH 2010

Guernsey Provider Announces World’s First Ever PCC Amalgamation

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Heritage Insurance Management Ltd in Guernsey has achieved a worldwide first by amalgamating two Protected Cell Companies (PCCs) into one.

GuernseyInsurance
Martin Le Pelley
Martin Le Pelley
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Heritage Insurance Management Ltd in Guernsey has achieved a worldwide first by amalgamating two Protected Cell Companies (PCCs) into one.

The companies, Harlequin Insurance PCC Limited and Friary Court Insurance PCC Limited, are both insurance PCCs with 17 independently owned cells between them.

The companies were used by Heritage and Heath Lambert Insurance Management (Guernsey) Limited to provide cell captive insurance facilities to their clients. Following Heritage's takeover of Heath Lambert's Guernsey and Maltese insurance company management business in 2009, it was decided to amalgamate the two PCC companies into one as there was no need for both PCCs to exist separately. Combining them creates a more efficient structure which ultimately will save money for the clients involved in the cells.

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