Artex Risk Solutions has launched its first protected cell company (PCC) in Vermont, designed to offer businesses a new platform to meet their risk transfer needs.
The new entity, Artex Axcell PCC, gives companies the opportunity to manage their own insurance programs and reap the benefits of captive ownership without incurring the cost and capital demands of a wholly owned vehicle.
The company states that once clients experience a cell solution, they can also use it as a stepping stone to a single-parent captive.
Additionally, Artex Axcell PCC gives cell participants the flexibility to choose between incorporated and unincorporated cell structures, access to reinsurance and capital market capacity, and cash flow, among other benefits.
Jennifer Gallagher, CEO of Artex in North America, remarks: “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.”
Barry White, executive vice president of sales, analytics and advisory at Artex in North America, adds: “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.”
