Other Types of Insurance Structures

Segregated Cell Company

A Segregated Cell Company (SCC) or Protected Cell Company can also be established in Barbados as an alternative to the traditional rent-a-captive entity.


The provisions in the SCC legislation protect each cell from adverse experiences of other cells, while ensuring that a cell’s benefits accrue only to it. SCCs allow the entity to enjoy the benefits of a captive insurance company without having to form its own captive.

Additional Information:
  • An external company may be registered as an ICC or continued as an ICC in Barbados
  • An existing Barbados company can be converted into an ICC
  • ICCs must submit annual returns for each of their incorporated cells
  • An incorporated cell may be transferred to another ICC or to a SCC. The latter can also transfer cells to an ICC
  • Use of a common framework and central management can result in savings
  • Assets/liabilities can be segregated according to class and risk
  • Provision of a more robust segregation of assets than the SCC and the Company with Separate Accounts
Incorporated Cell Company

An Incorporated Cell Company (ICC) comprises incorporated cells as part of its legal corporate structure. Like a SCC, an ICC comprises several cells, but unlike the cells of the SCC, each cell of the ICC is a separate legal entity with its own directors who may be different from those of the ICC.

As separate entities, the cells within an ICC can transact business with each other, can sue and be sued. However, incorporated cells must have the same registered office as their ICC but may not own shares of the ICC.

Company with Separate Accounts

A company whose articles permit the establishment of one or more separate accounts can also be established in Barbados and can be used for single-policy arrangements, especially life and annuity products. This entity differs from the SCC in the following ways:

  • Does not have multi-shareholder requirements
  • Does not put the core capital at risk like the SCC does
  • Is cost-effective but less versatile


Further information on setting up captives in Barbados is available at www.investbarbados.org and www.fsc.gov.bb.