The cell company, pioneered in Guernsey, is now used
across the financial services world for the structuring of many
different types of captive vehicles, including insurance-linked
security structures.
Guernsey licensed 89 new international insurers during 2013,
meaning the number licensed in the island at the end of last year
stood at 758.
This end-of-year figure represented net growth of 21 entities
since the beginning of 2013. What was perhaps most notable about
this increase was that more than 40 of the new licences issued
during last year were associated with structures relating to
Insurance Linked Securities (ILS).
In 2013 Robus' Protected Cell Company (PCC), Hexagon PCC
Group, established 22 ILS structures under the Hexagon PCC Group
umbrella. These structures are being used to conclude fully
collateralised reinsurance contracts (sometimes known as private
trades) in the non-life space. These see each cell enter into an
excess of loss/aggregate/quota
