A subsidiary of American International Group, Inc. (AIG) has received approval from The Guernsey Financial Services Commission to form a protected cell company in Guernsey, to be named AIG Insurance PCC Limited (AIGPCC).
AIG Insurance Management Services (AIMS), AIG’s global captive management operation, has also established a stand-alone captive management office in Guernsey, AIG Insurance Management Services (Guernsey) Limited (AIMS Guernsey). AIMS Guernsey will provide support services to AIGPCC as well as provide the full range of captive management services offered by the AIG Companies. AIGPCC and AIMS are located at Natwest House, Le Truchot, St Peter Port, Guernsey.
David Sheil, named managing director of AIMS Guernsey, has more than 14 years experience in the Guernsey captive market. Sheil joined AIMS Guernsey in 2005 from Prism Insurance Management.
Protected cell captive vehicles are captive insurance entities that segregate participants in a structure that protects, under Guernsey law, the individual participant’s assets against the liabilities of the other participants.
Guernsey is a British crown dependency in the English Channel off the coast of Normandy. It is included in the collective grouping known as the Channel Islands.
Source:
AIG
www.aigcaptives.com
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