Segregated portfolio company

The Protected Cell Company or PCC (from english protected cell: "protected cell") is a legal entity consisting of a core and an arbitrary number of independent cells.

A corporate version of PCC is the Incorporated Cell Company or ICC (of English incorporated cell " registered cell"). In this form of society both the core and any number of their cells are separate legal entities.

These types of companies are particularly suitable for self- insurance of medium-sized companies, which thus an alternative to the rent- a-captive concept is offered.

Attributes and special features

The majority of these - the purpose of self-insurance serving - acquired companies into a reinsurance license. The characteristic peculiarity of the individual cells associated assets are legally isolated from each other and thus protected. In no case a cell for claims by third parties against another cell adheres. Holder of a particular cell can therefore only draw on the resources of the affected cell. In contrast exists for the creditors of a cell in principle the possibility to hold harmless through liquidation of assets of the core.

Through these traits is Protected Cell Companies are as a captive facility for several independent clients. With the combination of autonomy of the self-insurance over the cells and common management of costs and capitalization of the shell company Protected Cell Companies combine the advantages of captive with those of a rent- a-captive and represent a further development in the alternative risk financing dar.

The first approval of a Protected Cell Company took place on 1 February 1997 on the British Channel Island of Guernsey. Today, among others, know the jurisdictions of Gibraltar, Malta, Jersey, the Bahamas and Vermont this form of society.

The legal requirements for admission of Incorporated Cell Companies was the first time in February 2006 in Jersey, then, among other things in Guernsey, Malta and St. Lucia.

Swiss law

Switzerland's law precludes in its current configuration, the establishment of Protected Cell Companies. Company law does not provide for structures that would allow it, within a society to create different, deferred asset positions and issue shares only to these. It is not expected that this broken land of the numerus clausus of social forms and company law is extended to the protected cell company.