Protected cell company
A specialist company with a core and segregated cells, whose assets and liabilities are ring-fenced between cells. It may only be used for insurance risk transformation.
- Entiva fee to form
- $259
- Government fees to form
- None listed
- Run plan
- $49 a month
- Ways to close
- 2
Who it suits, and what defines it.
Governed by the Risk Transformation Regulations 2017, Part 4.
Who it suits
- Insurance risk transformation, for example insurance-linked securities.
- Vehicles offered to qualified investors.
Key facts
- Legal form
- A company with a core and cells
- Cells
- Assets and liabilities are ring-fenced
- Use
- Insurance risk transformation only
- Investors
- Qualified investors only
- Authorisation
- PRA authorisation, with FCA involvement
- Registered at
- Companies House
- Name
- Must meet regulation 17
- Law
- Risk Transformation Regulations 2017, Part 4
What the law requires.
6 rules, each in plain words.
Authorisation from the PRA
The Prudential Regulation Authority (PRA) authorises the company, with Financial Conduct Authority involvement, as an insurance special purpose vehicle or transformer vehicle.
Registration at Companies House
Registration is under the Risk Transformation Regulations 2017.
A name that meets regulation 17
Notice to the PRA each time a cell takes on risk
Qualified investors only
Investments may be offered only to qualified investors.
Linked applications
The application to register the company and the application for permission to carry on the regulated activity are linked (regulations 13 to 15).
How it closes.
2 routes. The right one depends on whether it can pay its debts, and who starts it.
Dissolve a cell
When a cell's risk is run off or the cell is insolvent.
Dissolve the company
When all cells are closed or the core is insolvent.
Build it with the API.
Every step on this page is an action in the Entiva API, with its documents, signatures and filing.
What it costs, item by item.
Every Entiva fee and every government fee, from forming it to closing it.
Forming it
$259one-off
- Government fees
- None listed
Closing it
Quoted before it starts
- Entiva fee
- Fixed, quoted first
- Government fees
- At cost
Included in the Run plan
- Every deadline tracked
Entiva fees are in US dollars. Government fees are in the currency each authority charges, passed through at cost when the filing is made. Taxes are separate.
Start with your first company.
We are onboarding a small group of founders and finance teams with entities in more than one country.