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PORC insurance and alternative risk transfer planning involves sophisticated insurance and risk management issues, regulatory and corporate legal issues, federal, state and usually international tax issues, and a wide range of accounting and financial issues.
In a PORC, the producer (the insurance agent, broker, or producer) shares in the underwriting profits and investment income generated by the reinsurance company. This unique structure enables a PORC to offer several advantages to both the producer and the businesses they serve.
A producer-owned reinsurance company (PORC) is a captive or a rent-a-captive cell owned or used by a broker or managing general agent (MGA) for reinsurance of selected risks that it produces for the purposes of retaining the underwriting income.
This type of structure is more commonly known as a Producer Owned Reinsurance Company or Cell (PORC), and requires a partnership with an authorised insurer to provide the necessary fronting for the regulated aspects of policy issue and claims.
Producer Owned Reinsurance Companies (PORCs) are companies, or cells of protected or incorporated cell companies, that are beneficially owned by the producers (eg intermediaries or introducers) of insurance business where such insurance
PORC insurance and alternative risk transfer planning involves sophisticated insurance and risk management issues, regulatory and corporate legal issues, federal, state and usually international tax issues, and a wide range of accounting and financial issues.
30 wrz 2016 · The vehicles, sometimes referred to as producer owned reinsurance companies (PORCs) or producer owned insurance companies (POICs), are seen as an alternative form of capital used by promoters to support their client’s niche insurance needs.
