About Us
Overview
Established in 1994, Alternative Risk Management Limited is an independent insurance manager. We pride ourselves on offering objective and innovative solutions to a range of private and corporate clients.
About Us
Overview
Established in 1994, Alternative Risk Management Limited is an independent insurance manager. We pride ourselves on offering objective and innovative solutions to a range of private and corporate clients.
We are the largest independent insurance manager in Europe; we are not affiliated to any parent company or group and this affords us both flexibility and the ability to respond swiftly to our clients’ needs.
Our team of 25 includes staff who are professionally qualified in either insurance, accounting, compliance or company secretarial services. We provide comprehensive and diverse captive formation and management services, drawing on our breadth of experience.
Whilst we are based and licensed in Guernsey, we also hold a management license in Bermuda.
We manage over 100 captives, including conventional companies, protected cells and incorporated cells. Whilst some of our clients are household names, the majority are middle-tier companies, of which some are public limited companies and others are privately owned. Their captives underwrite nearly every class of insurance, including, but not limited to, property, liability, motor, professional indemnity, kidnap & ransom, fine art, marine and bloodstock.
Whilst most of our clients are UK-based, we also have clients from all corners of the globe, including Ireland, France, South Africa, Switzerland, Singapore, China and the Caribbean.
Domiciles
Globally, there are a number of captive insurance domiciles, and their varying regulatory regimes will be a factor in determining your choice of location.
ARM is licensed to operate in both Guernsey and Bermuda, both of which have their distinctive characteristics as noted below:
Guernsey
TIME ZONE
GMT
LANGUAGE
English
CONSTITUTION
Crown Dependency
LOCATION
Western Europe; 35 minute flight to London
REGULATOR
Guernsey Financial Services Commission (GFSC).
SOLVENCY
As Guernsey is not part of the UK or the EU, it is outside the scope of the Solvency II regime. Following a public consultation in early 2017, Guernsey reaffirmed it would not be seeking equivalence with Solvency II. Instead, its own regime distinguishes between different classes of insurer, such as commercial and captive insurers, and places proportionate regulatory burdens on each.
ECONOMIC SUBSTANCE
Income Tax (Substance Requirements) (Implementation) Regulations, 2018
DATA PROTECTION
Data Protection (Bailiwick of Guernsey) Law, 2017
CONDUCT OF BUSINESS RULES
Licensed Insurer’s Code of Conduct Rules 2018.
CELL LEGISLATION
Protected Cell Company (PCC) 1997.
Incorporated Cell Company (ICC) 2005.
Bermuda
TIME ZONE
GMT – 4 hours
LANGUAGE
English
CONSTITUTION
British Overseas Territory
LOCATION
Western Atlantic; 2.5 hour flight to New York, 6.5 hour flight to London
REGULATOR
Bermuda Monetary Authority (BMA).
SOLVENCY
Solvency requirements are equivalent to those under Solvency II.
ECONOMIC SUBSTANCE
Economic Substance Act 2018 (Bermuda Substance Act) and the Economic Substance Regulations 2018 (Bermuda Substance Regulations)
DATA PROTECTION
Personal Information Protection Act (PIPA) .
CONDUCT OF BUSINESS RULES
Insurance Code of Conduct July 2015.
CELL LEGISLATION
Segregated Accounts Companies (SAC) 2000.