Atlas risk analyst showcases PCC opportunities at London event

Atlas Insurance PCC’s risk analyst Ian-Edward Stafrace recently showcased the opportunities of setting up protected cells in Malta at the 12th Annual Risk Management Congress in London.

Atlas is actively promoting Malta as an ideal European location for insurance business and, particularly, its protected cell facility. Atlas has licensed four cells since its conversion to a protected cell company.

The congress was a practitioner-based event, featuring over 20 leading risk managers from the UK, Europe and other regions. It addressed all the current challenges and new risks facing risk managers and covered various themes including enterprise risk management, emerging risks, governance, strategy, risk culture, and risk financing.

There is substantial interest in the facilities offered by the Maltese protected cell company structure as an alternative to the setting up of a standalone insurer, reinsurer or captive.

Malta is currently the only full EU member state that offers PCC legislation. Through European passporting, Maltese insurance protected cells can provide insurance directly across Europe avoiding fronting costs and collateral requirements. Protected cells also benefit from significant cost and capital savings for medium-sized entities versus establishingstandalone companies.

As one of Malta’s leading insurers, Atlas PCC’s active core business allows greater flexibility for international investors to set up captive risk financing or third party writing insurance cells. As an independent PCC, Atlas also provides local insurance managers the opportunity to manage cells introduced by them.

Mr Stafrace has now been invited to address the Global Risk Management Professional Development Forum in the UK in March.