ARTICLE · 01 JUNE 2015

Isle Of Man Launches Insurance SPV Framework

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The Isle of Man has enacted dedicated legislation to provide a bespoke authorisation and supervision regime for insurance special purpose vehicles...

Isle of ManWealth Management

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The Isle of Man has enacted dedicated legislation to provide a bespoke authorisation and supervision regime for insurance special purpose vehicles (ISPV) to facilitate insurance linked securities (ILS) transactions.

The Isle of Man already boasts a diverse and well-established insurance sector, with around £55 billion of insurance assets already managed through the Island. This new framework further enhances the attractiveness of the Isle of Man to the insurance sector and provides for the creation of a specialist class of (re)insurer for cat bonds, mortality bonds and other collateralised (re)insurance transactions.

The new ISPV regime will provide an expeditious and transparent authorisation process, simple and proportionate on-going regulatory requirements and cost-effective operating environment, all from a convenient European time-zone.

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