Aon’s White Rock protected cell facility continues to experience growth

Insurance and reinsurance broker Aon’s protected cell facilities under the White Rock Group brand continue to experience growth in terms of clients and cells established, with insurance-linked securities (ILS) and collateralised reinsurance a key driver.

Aon’s White Rock Group, which was the first protected cell facility to emerge and gain significant traction, celebrated its 20th anniversary in 2017.

By early 2018, the White Rock Group’s Guernsey operation, which operates as White Rock Insurance Company PCC Limited, reached 100 cells and so far this year rapid growth has propelled that number to more than 160.

Now with 200 cells in sight the company is experiencing growth both from traditional markets, as well as the increased expansion of the insurance-linked securities (ILS) and collateralised reinsurance space.

“I am absolutely delighted with this news,” commented Stewart McLaughlin, director of White Rock Guernsey, “Not just for White Rock but for Aon as a whole which operates its flagship Protected Cell facility from its offices in Guernsey. White Rock Guernsey continues to go from strength to strength and we welcomed several new clients in early 2018. With the continued convergence of insurance and capital markets there is renewed growth and interest in Insurance Linked Security / Collateralised reinsurance business.

Dermot Finnerty, White Rock, Group Managing Director, highlighted that the growth of White Rock Guernsey is testament to the work and professionalism of the White Rock team in Guernsey.

McLaughlin continued, “White Rock ICC is licensed to write both general and long-term insurance and we are also pleased to be working on solutions to provide pension schemes with access to the longevity reinsurance market. 2018 is proving to be a very exciting year for the Group.

“I am so proud of my White Rock colleagues who worked together to make White Rock Guernsey the most successful Protected Cell facility anywhere on the planet.”

White Rock constitutes a group of insurance and reinsurance vehicles with operations across Bermuda, Gibraltar, Guernsey, Isle of Man, Malta and Vermont.

The company is owned by broker Aon, offering clients a range of insurance solutions structured within Protected Cell, Incorporated Cell and Segregated Account facilities.

As a result the vehicles are utilised by ILS markets and funds that are seeking cell company solutions for transacting fully collateralised reinsurance business.