ARTICLE · 09 DECEMBER 1997
Wider Use Of Protected Cell Companies Envisaged
The introduction earlier this year of Protected Cell Company legislation, permitting the setting up of companies designed to give a full legal foundation to the segregation of assets between a 'core' and various 'cells', has met considerable interest from insurance company managers and the promoters of 'umbrella' funds.
Several have been swift to use the new legislation to establish, for example, rent-a-captives, opening the captive option to a range of 'small' users previously excluded, and collective investment schemes that include classes, or cells, investing in high risk investments.
However, additional users for PCCs, particularly for insurance purposes, have been identified and are expected to lead to the formation of new types of PCCs in the near future. These uses include:
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