Isle of Man

The Isle of Man has joined the domicile race to attract insurance-linked securities (ILS) and catastrophe bond business, with the release of its Insurance Special Purpose Vehicles (ISPV) regulatory framework.

The Isle of Man’s Insurance and Pensions Authority (IPA) is the latest offshore domicile which is seeking to introduce insurance special purpose vehicle (SPV) legislation, as it hopes to attract insurance-linked securities (ILS) and catastrophe bond business.