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A point of difference.

The Isle of Man Captive Association is an organisation dedicated to the progression and development of insurance management companies on the Isle of Man. Its growing membership supports and advances a set of guiding principles that each member company can benefit from.

In particular, the Association's continual dialogue and support from Government ensures that the Island's unique offshore jurisdiction and quality of financial services is not only maintained but also enhanced.

Isle of Man

Secured and Sheltered

Stability and strength

A part of the British Isles but not the UK, fiercely independent, yet warmly welcoming, the Isle of Man is distinctly different from its mainland neighbours. Placed firmly in the middle of the Irish Sea it has a proud history and seafaring heritage. As an offshore jurisdiction it has a culture of opportunity and a climate for growth. This is particularly underlined by the presence of both global and independent captive insurance companies.

The Isle of Man Government has welcomed the Island's inclusion on the OECD white list of countries complying with the global standard for tax co-operation and exchange of information.

Top ten reasons to choose the Isle of Man for captive insurance:

  • Moody's rating of Aa1
  • Internationally recognised
  • Pragmatic effective regulation
  • Choice of structure available, including ICC & PCC
  • Bespoke ILS, SPV and Catastrophe Bond Legislation
  • Located in the heart of the British Isles, but not part of the EU/EEA
  • Skilled cost effective workforce
  • Proportional capital and solvency
  • Extensive infrastructure and supporting professional services
  • Fast set-up and redomiciliation allowed
  • Ability to provide loan back to parent company

Capital requirements

At formation stage an appropriate risk based level of capital is agreed with IOMFSA. Thereafter the company is then required to maintain adequate capital and resources to meet its liabilities.

Solvency requirements

While these are the minimum amounts necessary they may be increased at the discretion of the Insurance Supervisor:

  • £150,000: General Insurer
  • £100,000: Reinsurance Company
  • £50,000: Captive Insurer


Application charge £2,380

Annual charges £4,760

Corporation Tax

Zero rate of tax

Domicile comparison

Please click here to view the comparison table.


Isle of Man insurance law is devised to provide the framework and support the needs of captive insurers. The principle legislation of the Insurance Act 2008 replaces the original act of 1986. While the administration of Protected Cell Companies and Incorporated Cell Companies is allowable, the Isle of Man recently introduced Insurance Special Purpose Vehicle (ISPV) legislation. This bespoke legislation now allows the Isle of Man to fully compete in the insurance linked securities (ILS) catastrophe bond and collateralised reinsurance space.

The Companies Act of 2006 introduced a simplified corporate standard that developed the IBC (International Business Company) model and is aligned and supports recognised measures. This latest standard compliments the previous Companies Acts of 1931-2004 and allows the transference of a company formed under the original Act if required.

The formation of an insurance company is available in the following structures:

  • Limited Liability Company
  • Protected Cell Company
  • Incorporated Cell Company
  • Insurance Special Purpose Vehicle (ISPV)
  • Limited Liability Partnership
  • Companies Act 2006