Auditor Confirmations in Applications for Insurance Authorisation by Protected Cell Companies and Limited Partnerships

Overview

There is currently a disparity in regulation between the insurance authorisation application processes of conventional companies as compared to Protected Cell Companies (PCCs) and Limited Partnerships (LPs). The disparity being that as a result of previous updates to legislation conventional company applicants do not need to obtain certain auditor confirmations in respect of their application business plan, whilst in the absence of similar updates PCCs and LP applicants do need to obtain auditor confirmations.

The Authority considers it appropriate to address this anomaly in treatment in respect of PCCs and LPs.

Why We Are Consulting

The purpose of the consultation is to obtain views and evidence in relation to the removal of auditor confirmations in the insurance authorisation application process in respect of PCCs and LPs.