ILS Cells

ILS Cells White Rock Protected Cell Company

Aon Insurance Managers (Guernsey) Limited (AIMG) currently manages three Insurance Linked Securities (‘ILS’) vehicles with 33 transactions. These ILS transactions generated approximately £35m of premiums in the 2011 fiscal year, and are supported by capital in excess of £162m.

White Rock Insurance Company PCC Limited (White Rock Guernsey) is an Aon owned company which has total assets of circa £230m and 58 active cells writing nearly £70m of premium. White Rock Guernsey provides a low cost, competitive facility through which ILS Funds can access returns from the catastrophe retrocession markets. These risks are capable of being actuarially priced and assessed by the ILS Funds with short risk periods. In the event that there are no claims, the collateral and profit can be released very quickly.

AIMG, alongside the White Rock facility are dedicated to working with both the Guernsey Financial Services Commission (GFSC) and clients in order to ensure Guernsey’s development as a reinsurance market. Recently AIMG were approached to list the first private bond relating to a catastrophe reinsurance risk on the Channel Islands Stock Exchange, demonstrating the innovative and dedicated approach to ILS in the Island.

For more information on ILS Retrocession Cells please see our product sheet and case study.

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