Offshore access to Lloyds

The Isle of Man government has introduced legislation that will enable offshore access to the Lloyds of London insurance market through corporate capital vehicles set up on the island. Foreign investors will now be able to access the market via a partnership-like arrangement with a limited liability company (LLC), offering both limited liability and neutral tax treatment, with a relatively simplistic management structure. The changes have been brought about in consultation with Coutts and Carters Advocates to ensure they are compatible with current Lloyds requirements. The new legislatio...