Isle of Man • London

Insurance

The Isle of Man is one of the world's largest off-shore life insurance jurisdictions, a position ascribed to its favourable legislation, low administration costs and excellent communications. Life insurance business, re-insurance, and the creation and management of captive insurance companies are areas of particular expertise at Simcocks.

We have a depth and breadth of experience and David Spencer is the stand out insurance lawyer on the Island. His reputation generates many referrals and he is able to put together and lead teams who can deal with extremely complex matters. His expertise means David is often the first port of call for specialised and highly technical advice.

The company has a proven track record in representing insurers, reinsurers, intermediaries, brokers, private and listed companies in relation to all aspects of insurance and reinsurance.

The team includes a lawyer who previously worked in the reinsurance department of an international law firm, a lawyer who worked as a technical insurance specialist in the marine and aviation sectors, a lawyer with marine mutual insurance experience and others who have sat on the boards of locally-licensed insurance companies. Their direct experience brings a realistic and commercial element to the team.

Simcocks is able to provide expert advice on all aspects of Isle of Man insurance law, including:

  • insurance regulatory and compliance issues
  • regulation of insurance intermediaries
  • formation of captive and other insurance companies in the Isle of Man (protected cell, incorporated cell and standard companies)
  • amalgamation of insurance companies
  • winding up of insurance companies
  • redomiciliation of insurance companies both to and from the Isle of Man
  • corporate transactions
  • portfolio transfers
  • security arrangements
  • reinsurance, commutation and other insurance-related arrangements and transactions
  • schemes of arrangement
  • policy wording
  • insurance and reinsurance claims.
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