Protected Cell Company (PCC) and Cells
Jatco Insurance Brokers PCC Limited has been granted a licence to operate as an intermediary Protected Cell Company (PCC) on the 11th September 2013.
Jatco Insurance Brokers PCC Limited established its first new cell, which is also the first insurance broking cell worldwide, on the 11th September 2013. Since this date it has obtained the licence for seven insurance brokerage cells and is currently handling various other new cell applications some of which are being reviewed by the MFSA for approval.
In line with the company philosophy of always being at the forefront of the changing insurance scenario and of the company’s involvement in the wider international spectrum the directors felt that converting to a PCC was the natural process in this development.
With this new structure the company may offer its international clients the following advantages when using Malta as a domicile of choice:
- Ability to intermediate policies directly into the EU and European Economic Area.
- Regulation to EU standards with the flexibility and responsiveness for which the most successful established domiciles are favoured.
- As an established financial centre, insurance, legal and accounting expertise are all available within Malta’s highly trained professional workforce.
- Tax efficiency and in addition, Malta has double taxation tax treaties with over 60 countries.
John Tortell, the managing director feels that this new company development has added to the wide range of services the company offers its clientele.