Captive risk financing
Managing insurance deductible and/or providing access to the reinsurance market with a lower cost per unit of cover versus the primary market. Reinsurers tend to also be better placed to underwrite unusual risks. Atlas was the first PCC to host an insured owned cell writing it’s motor fleet insurance directly to the UK.
To sell insurance
The European market is a natural target for business to be written by a cell licensed in Malta enjoying the freedom to provide services in the countries forming part of the European Economic Area. Most of the cells Atlas hosts are owned by businesses not typically from the insurance sector that have created cells to sell insurance to their customers. This includes mobile phone insurance and other forms of accidental damage insurance or extended warranty, pet insurance and travel cancellation.
Non-European insurers have set up cells as fronting facilities in order to reduce their EEA fronting costs
Cells can also be created to handle run-off business or for special purpose applications by facilitating access to specialist risk-bearers.