SECTION 50 TRANSFER
Please click here for more details on the transfer of your Nova policy to Centriq.
A cell captive – a ‘virtual insurance company’ – is owned and controlled jointly by the client(s) and the cell captive insurer. It is a contractual relationship formed by the insurer issuing a separate class of preference shares, coupled with an agreement.
The agreement sets out the rights and obligations of the preference shareholder (the cell owner) and the insurer. It also governs the arrangements in respect of the insurance business transacted, counts, and access to information. This structure can be utilised by any corporate to underwrite its own risks, but is usually best suited to a group of companies, or a joint venture.
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Defined as a third party cell captive arrangement where insurance business is ancillary to the primary business activity of the cell owner.
The stand-out benefit of the Cell Captive solution is that it enables you to keep your independence while we not only equip you, but empower you....
Whatever your organisation, volatile cash flow exposure (courtesy of severe claims and ever-increasing conventional market premiums)....
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