Ivy Jermyn-Buckley and Marian Fenton of AIG – which has a
PCC established in Guernsey since 2007 – share their
knowledge of PCC and cell formation in Guernsey.
Today, as the industry continues to develop and evolve, the
Protected Cell Company (PCC) structure is receiving a new focus.
Industry statistics reported an increase of 60 protected cells and
four incorporated cells in Guernsey alone in 2012. PCC's can
trace their origin to historical contractual cell structures. The
need to ring fence assets and liabilities by statue rather than by
contract gave rise to the development of the PCC concept, which
originated in Guernsey and was introduced into Guernsey law in
1997. The PCC itself is a single legal entity made up of a
'core' and any number of cells. The cell is not a separate
legal entity, and therefore it cannot transact with another cell
within the same PCC or the PCC Core, but is legally separated from
other cells in the PCC and can be owned by the PCC owner or
