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  • Captive Risk

    Switzerland

    2010-07-20T00:00:00Z

    CAPTIVES 48 (at end of 2008, according to independent supervisory authority Finma)CAPTIVE PREMIUM CHF273.8m (€197m) at end of 2008LEGISLATION Swiss Federal Law on the Supervision of Insurance Companies and Financial Market Authority 2007CAPTIVE TAX RATE 0%FEES CHF3,000, but dependent on complexity of caseREGULATOR Swiss Financial Market Supervisory AuthoritySwitzerland has close ...

  • Captive Risk

    Sweden

    2010-07-20T00:00:00Z

    CAPTIVES 50 non-life captivesCAPTIVE PREMIUM circa SEK1,087m (€112m)LEGISLATION Insurance Business Law 1982; Regulation of Insurance Business 1982:790; Law of Annual Statement for Insurance Companies 1995:560; Insurance Contract Law 2005:104CAPTIVE TAX RATE flat rate tax system: 26.3%. Tax deferral due to equalisation reserves possibleFEES application fee SEK110,000; registration fee SEK2,000; and ...

  • Captive Risk

    Malta

    2010-07-20T00:00:00Z

    CAPTIVES* nine pure captives, 24 international third-party writers under management and eight protected cellsCAPTIVE PREMIUM* €670mLEGISLATION Insurance Business Act, Insurance Business (Companies Carrying on Business of Affiliated Insurance) Regulations 2003; and MFSA Rule 21 on Affiliated InsuranceCAPTIVE TAX RATE 35% on the captive (with opportunity of tax refunds in relation ...

  • Captive Risk

    Luxembourg

    2010-07-20T00:00:00Z

    CAPTIVES 261 captives and eight direct written captivesCAPTIVE PREMIUM total premium, including professional insurers, was €6.6bn in 2008LEGISLATION amended law of 6 December 1991 on insurance sectorCAPTIVE TAX RATE 28.59% on a deferred basis FEES application €2,000; annual licence €4,000 for a reinsurer; €8,000+ for direct writer, depending on premium ...

  • Captive Risk

    Isle of Man

    2010-07-20T00:00:00Z

    CAPTIVES 143CAPTIVE PREMIUM €1.43bnLEGISLATION Insurance Act 2008 and Protected Cell Companies Act 2004CAPTIVE TAX RATE 0%FEES £4,250 (€5,030)REGULATOR Insurance and Pensions AuthorityThe Isle of Man is one of Europe’s oldest captive centres, having been a recognised captive domicile since 1982. It has had PCC legislation in place for a number ...

  • Captive Risk

    Guernsey

    2010-07-20T00:00:00Z

    CAPTIVES 343 insurers, 327 PCC cells and eight ICC cellsCAPTIVE PREMIUM £3.3bn (€3.84bn) as at 31 December 2008LEGISLATION the Insurance Business (Bailiwick of Guernsey) Law, 2002; the Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law, 2002CAPTIVE TAX RATE 0%FEES application fee of £4,370 for captive or cell company, or ...

  • Captive Risk

    Dublin

    2010-07-20T00:00:00Z

    CAPTIVES 202CAPTIVE PREMIUM gross written premium (2008) €1.84bn (Dima survey)LEGISLATION various acts and statutory instruments as listed on Central Bank andFinancial Services of Ireland (CBFSI) website, including guidance note ‘Operational Guidance on Prudential Requirements Applicable toCaptive Insurance Undertakings’CAPTIVE TAX RATE 12.5%FEES no application fee; annual fee dependent on premium volumeREGULATOR ...

  • Captive Risk

    Domicile, sweet domicile

    2010-07-20T00:00:00Z

    Good people, short flights and a flexible regulator all help captives professionals decide on their ideal base. Liz Booth looks at the pros and cons of the main locations in Europe, and considers if being in or out of the EU is an advantage