Special Purpose Vehicles White Rock Protected Cell Company
White Rock Guernsey is a Protected Cell Company (PCC) facility where each insured’s business is legally segregated from all other cells in the PCC. PCC legislation enables White Rock Guernsey to facilitate Special Purpose Vehicles (SPV) transactions which were traditionally achieved only through the incorporation of a stand-alone company.
How are cells used?
Life Insurance Securitisation – White Rock was the first PCC to complete a life insurance securitisation, effectively releasing, the value of its clients’ assets, allowing new business growth and acquisition strategies to develop.
Transformer Cell arrangements – White Rock has also facilitated a number of transformer cell arrangements, where banking products such as credit derivatives have been converted into insurance products. We have also developed a product that allows capital market investors to participate in insurance transactions and entirely non- insurance transactions, such as investment holding and investment funding.
Benefits of a White Rock SPV cell
- More cost effective than setting up a stand-alone SPV
- No minimum capital requirement in Guernsey for SPV cells
- Speed of set-up
- Expertise in the completion of deals to tight deadlines
- A high level of understanding of technical documentation
- Guernsey has the regulatory and legal framework in place to facilitate transactions effectively and securely
- Competitive set-up and transaction fees