Euroguard converts to PCC

Euroguard Insurance Company PCC Limited is the first Gibraltar-based contractual cell company to convert to a protected cell company (PCC).

PCC legislation is the next step in the contractual cell captive evolutionary chain; legally ring-fencing individual cells’ assets and allowing each cell to operate as if it were a distinct insurance entity.

PCC legislation also further clarifies the application of the cell concept, in both the legal and accounting environments. “Euroguard’s conversion to a PCC is a strategic milestone for the company.

Gibraltar is perfectly placed as a domicile to access clients through its European Union passporting rights and, having the PCC structure to support our business model, will provide further opportunities for clients to enter the alternative risk transfer market,” says Lisa Vorwerg, director of Euroguard.

Euroguard was formed in 1996 and became a member of the Alexander Forbes Group in 2005. The group is also home to Guardrisk, the world’s number one specialist captive insurance group, which is based in South Africa and manages more than 110 cells. During the process of conversion, Euroguard was advised by Nigel Feetham, partner at leading Gilbraltar law firm, Hassans. ends For further information please contact:Lisa VorwergDirector : Euroguard Insurance Company PCC LimitedTelephone : +44 (0) 20 7933 2120Mobile : +44 (0) 7920 535 092e-mail : vorwergl@euroguard-insurance.com