Discover a Leading International Insurance Location
The Isle of Man has a long established insurance industry and is home to a number of renowned companies dating back over 40 years.
Originally marketing largely to the retired or working British expatriate, the insurance companies now offer services to expatriates of other countries and local nationals around the world.
The industry encompasses: Life, Captive, and General insurance brokering.
With more than 10 of the world’s leading International Life Companies already calling the Isle of Man home, approximately £72.8 billion assets under management and employing almost 2,000 employees, our decades of experience have built us an enviable reputation, with a lower cost base than many jurisdictions and favourable tax treatment.
The Isle of Man is a leading international centre for life insurance and wealth management. We are a politically and economically stable jurisdiction with a regulatory framework that puts customer protection first. The Isle of Man is an attractive jurisdiction for establishment and management of insurance structures. The sector is strongly represented by the trade body - the Isle of Man Insurance Association (IMIA) and is known through the international campaign Isle of Man for Life.
Non-Life Insurance Sector
The Island’s non- life insurance sector is predominantly made up of captive insurers and associated specialist insurance management companies, ranging from subsidiaries of the major international insurance broking and risk management organisations to local operations.
Third party commercial writers and providers of insurance to individuals make up a relatively small portion of the non- life market in the Isle of Man.
The Isle of Man is recognised as being one of the leading centres for captive insurance and has attracted high quality captive business from all over the world. Captive insurance companies are a vital part of group risk management strategies and offer one of the most effective and widely used mechanisms for risk management.
Captive insurance management is supported by an expert workforce, and the wider financial services sector in the Isle of Man.