The Isle of Man Captive Association has appointed a new deputy chairman, Simon Nicholas of KPMG.
Nicholas joined KPMG Isle of Man in 2010. Prior to moving to the Isle of Man, he worked with the Bermuda reinsurance and captive markets for KPMG in Bermuda for nearly 7 years, and with the London and Lloyd’s markets for many years prior to that.
He has significant experience auditing and advising insurance entities, in particular captives.
Simon Nicholas said: “The insurance industry in the Isle of Man has weathered the financial storm of the past few years exceptionally well and continues to grow from strength to strength repeatedly attracting new high quality companies to the island.”
Members of the captive association offer services ranging from small local operations to representatives of the world’s leading captive management groups.
The Isle of Man’s legislation offers structures including single-parent captives, association captives, rent-a-captives, incorporated cell companies, special purpose vehicles, protected cell company (PCC) captives, limited liability partnership captives and captives writing third party business under limited third party authorisation.
