Location of actuarial work for new PCC/LP insurer

Summary

The requester asked for the location of actuarial work for a new Protected Cell Company or Limited Partnership awaiting insurer authorisation. The Authority responded that no such entities are currently awaiting authorisation, as the one from 2022 has since been approved, and detailed their internal actuarial staffing.

Key Facts

• There are currently no Protected Cell Companies or Limited Partnerships awaiting authorisation as insurers.
• A Protected Cell Company awaiting authorisation in 2022 has subsequently been authorised.
• The Authority employs one qualified actuary and one part-qualified actuary.
• These actuaries provide support to the insurance supervision teams.
• The request was received on 5 December 2025 and closed on 9 December 2025.

Data Disclosed

• 5 July 2022
• 2022
• 5 December 2025
• 9 December 2025
• 5150205
• one qualified actuary
• one part-qualified actuary
• 2 pages
• 1 document

Original Request

Where will actuarial work be carried out for the new Protected Cell Company or Limited Partnership that is awaiting authorisation as an insurer as per my FoI request of 5 July 2022? I believe the Isle of Man public has a legitimate interest in this information as it limits the effectiveness with which the FSA can oversee a new insurer for actuarial work to be performed off-Island.

Data Tables (1)

Full Response Text

Isle of Man Financial Services Authority PO Box 58, Finch Hill House, Bucks Road, Douglas, Isle of Man, IM99 1DT Tel: +44 (0)1624 646000 Website: www.iomfsa.im

Our ref: 5150205 9 December 2025

Dear ###

We write further to your request, received 5 December 2025, which states:

"Where will actuarial work be carried out for the new Protected Cell Company or Limited Partnership that is awaiting authorisation as an insurer as per my FoI request of 5 July 2022?

I believe the Isle of Man public has a legitimate interest in this information as it limits the effectiveness with which the FSA can oversee a new insurer for actuarial work to be performed off-Island."

Our response to your request is as follows: I have detailed below the information that is being released to you.

The Isle of Man Financial Services Authority (‘the Authority’) can confirm that there are currently no Protected Cell Companies or Limited Partnerships awaiting authorisation. There was a Protected Cell Company awaiting authorisation in 2022, this has subsequently been authorised.

The Authority employs one qualified actuary and one part-qualified actuary, who provide actuarial support to the insurance supervision teams.

Please quote the reference number 5150205 in any future communications.

Your right to request a review

If you are unhappy with this response to your freedom of information request, you may ask us to carry out an internal review of the response, by completing a complaint form and submitting it electronically or by delivery/post.

An electronic version of our complaint form can be found by going to our website at https://services.gov.im/freedom-of-information/Review . If you would like a paper version of our complaint form to be sent to you by post, please contact me and I will be happy to arrange for this. Your review request should explain why you are dissatisfied with this response, and should be made as soon as practicable. We will respond as soon as the review has been concluded.

If you are not satisfied with the result of the review, you then have the right to appeal to the Information Commissioner for a decision on; 1. Whether we have responded to your request for information in accordance with Part 2 of the Freedom of Information Act 2015; or 2. Whether we are justified in refusing to give you the information requested.
In response to an application for review, the Information Commissioner may, at any time, attempt to resolve a matter by negotiation, conciliation, mediation or another form of alternative dispute resolution and will have regard to any outcome of this in making any subsequent decision. More detailed information on your right to a review can be found on the Information Commissioner’s website at www.inforights.im. Should you have any queries concerning this letter, please do not hesitate to contact me. Further information about freedom of information requests can be found at www.gov.im/foi.

I will now close your request as of this date.