Allied Insurance PCC Limited
Allied Insurance PCC Ltd was formed as a fully owned subsidiary of Goldassurance Asset Management Company Limited on April 11, 2011. Both GCPL and GAMCO are fully owned subsidiaries of Allied Group Holdings Limited which is the parent group. All companies are domiciled in Labuan – Malaysia.
Allied Insurance PCC Ltd is dedicated to providing captive re-insurance products under protected cells that provide quality protection with value pricing. We wish to establish a successful partnership with our clients, our staff members, and through a vast network of our re-insurance companies, that respect the interests and goals of each party.
The company aims to target P&I, Haul and General Category Insurance segments through different fronting arrangements. We take pride in knowing that for over 30 years we have helped our clients to find the best coverage at the right price that suits their needs and expectations. In the event of a claim, our clients know that we are there to provide help and counsel to ensure a fast, speedy claim settlement. We have stressed to our insured’s the importance of good communication between the broker and client to insure proper coverage is in place. We have noticed as our clients become better informed about insurance that there has been a tremendous increase in clients wishing in-depth discussions about their policy coverage and how they can get the most value for their insurance dollar.
The company’s rationale for opting the Protected Cell Company (PCC) concept is one of the most significant developments in the world of corporate finance for many years. This flexible new technology is already being used to provide a platform for a broad range of financial transactions, including the provision of a stable and cost-effective platform for securitisation and other transformer activities as well as a diverse range of more conventional insurance and other financial applications. The introduction of ICCs (Incorporated Cell Companies) and to anticipate opportunities and developments in the next few years. There have been a number of substantial developments in this market in the last few years, notably the incorporation of PCC regulations in Labuan, Bermuda, Barbados, Gibraltar, Malta, Isle of Man and in many states in the USA and the associated widespread acceptance of PCC structures for applications which were previously merely predicted. Originally the use of cellular rent-a-captive structures began in Bermuda in the 1970s but it was not until 1997 that Guernsey created a new kind of captive that ‘ringfenced’ the assets of the participating cells and allowed them to operate as distinct insurance entities.
“To be recognised as a responsible captive and protected cell company respected for
continuingly realizing goals of its investors.”
GCPL is dedicated to structure captive insurance solutions that provide quality protection with value pricing. We wish to establish a successful partnership with our clients, our staff members, and our reinsurance companies, that respect the interests and goals of each party. Success will be measured by our clients choosing us because of their belief in our ability to meet or exceed their expectations of price, service, and expertise.
> Value creation for clients on a sustainable basis
> Maintain high standards of ethical behaviours and fiduciary responsibility
> Manage Investments with Prudence and with the aim of providing consistent coverage better than that of peers
> Take Products and Services to the People; Create awareness on understanding financial goals, risks and rewards
> Professional Excellence – Adapt, Evolve and Continuously Improve
> Maintain highly effective controls through strong compliance and risk management
> A talented, diligent and diverse HR
> We believe the keys to success in captive insurance business are:
> Knowledgeable, friendly staff to handle our consumers’ needs and circumstances, especially in handling a loss.
> Policies that meet or exceed the expectations of our clients, and that are affordable, available, and understandable.
> Policies and endorsements delivered on time with minimal errors.
> A commitment to an annual insurance review for all of our clients.
> Based on self insurance the solvency levels and reserve funds to meet claims are primarily the responsibility of the client.