PCCs create a communal platform where multiple organisations can engage in distinct risk transfer activities under a legal umbrella. Each cell functions like a conventional captive insurance entity but has a leaner setup, operation, and termination process. Additionally, each company’s assets and liabilities are protected by statutory provisions and contractual agreements.
This development marks a strategic expansion for risk management services, aimed at assisting businesses across multiple sectors to manage their insurance needs more effectively.
Artex Axcell PCC (Vermont) Inc., founded in April 2024, allows organisations to design their own insurance programmes. This structure enables organisations to benefit from the economic and logistical advantages of captive ownership while requiring less initial capital and a less arduous financial commitment compared to fully-owned alternatives.
This model also provides an introductory pathway into the area of single-parent captives but offers versatility in choosing between incorporated and unincorporated cell structures. Some other advantages include access to substantial reinsurance and capital market capacity, streamlined cash flow, and other operational benefits.
Jennifer Gallagher, (pictured) CEO of Artex North America, commented: “PCCs have been one of the most important evolutions in the captive insurance marketplace in recent years, and we are thrilled to serve clients through our latest Artex Axcell PCC.”
The introduction of this PCC underlines Artex’s position as one of the key managers of cell facilities worldwide, serving a range of clients from small enterprises to multinational corporations.
Barry White, Executive Vice President, Sales, Analytics and Advisory for Artex, North America, reflected: “With Vermont now established as the largest captive domicile globally, we selected Vermont as part of our US onshore strategy, but also to complement our global offering.”
