Artex debuts new risk management solution
Artex debuts new risk management solution | Insurance Business America
Insurance News
Artex debuts new risk management solution
Development marks a strategic expansion of its services
Insurance News
By
Althea Javellana
In a significant advancement within the risk management sector, Artex Risk Solutions – a Gallagher subsidiary – has introduced its inaugural Vermont Protected Cell Company (PCC). This development marks a strategic expansion of its risk management services, aimed at aiding businesses across various sectors to manage their insurance needs more effectively.
Established in April 2024, the newly formed entity, Artex Axcell PCC (Vermont), Inc., enables organizations to orchestrate their own insurance programs. This structure benefits from the economic and logistical advantages of captive ownership but requires lower initial capital and ongoing financial commitment compared to fully-owned alternatives.
This model not only provides an introductory pathway into the realm of single-parent captives but also offers versatility in selecting between incorporated and unincorporated cell structures. Additional advantages include access to substantial reinsurance and capital market capacity, enhanced cash flow, and other operational benefits.
Jennifer Gallagher, CEO of Artex in North America, highlighted the pivotal role of PCCs in recent innovations within the captive insurance market, expressing enthusiasm about leveraging this structure to support client needs effectively.
Further emphasizing the strategic choice of Vermont, Barry White, executive vice president of sales, analytics, and advisory at Artex, noted Vermont’s prominence as a leading captive domicile globally, aligning perfectly with their U.S. onshore strategy and global offerings.
The introduction of this PCC underscores Artex’s position as one of the foremost managers of cell facilities worldwide, serving an array of clients from small enterprises to multinational corporations across multiple industries.
PCCs facilitate a communal platform where multiple entities can engage in distinct risk transfer activities under one legal umbrella. Each cell functions akin to a conventional captive insurance entity but is distinguished by its efficiency in setup, operation, and termination processes.
Furthermore, the segregation and protection of assets and liabilities in each cell are ensured both by statutory provisions and contractual agreements.
Do you have insights regarding this new venture by Artex? Share your thoughts below.
Related Stories
Keep up with the latest news and events
Join our mailing list, it’s free!
