The Aon-owned White Rock Group has announced that its flagship Guernsey-domiciled operation is nearing 200 cells, 21 years after the White Rock Insurance Company launched as the world’s first PCC.
PCCs allow for segregation of assets or liabilities, so have been used to enable multiple transactions to be effected in different cells of the same vehicle, but can also be used as an efficient vehicle through which to underwrite insurance or reinsurance for a single beneficiary company.
White Rock has since become a leading facilitator with operations in Bermuda, Gibraltar, Guernsey, Isle of Man, Malta and Vermont.
“I am absolutely delighted with this news” said Stewart McLaughlin, Director of White Rock Guernsey. “Not just for White Rock but for Aon as a whole which operates its flagship Protected Cell facility from its offices in Guernsey.
“White Rock Guernsey continues to go from strength to strength and we welcomed several new clients in early 2018.”
Dermot Finnerty, White Rock Group’s Managing Director, congratulated White Rock Guernsey on its continued growth. He also added that this demonstrated the great work and professionalism of the White Rock team in Guernsey.
