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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.
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.
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. How Does a PORC Work?
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15 gru 2023 · The assets of Singapore’s finest 50 insurers included in the Singapore Business Review ’s Insurance Rankings dipped 3.7% year-on-year (YoY) in 2022, overshadowing the growth trend in last year’s edition which recorded a 5.1% YoY in 2021.
