Willis Group Holdings has announced that its Isle of Man based subsidiary, Willis Management, has been appointed as the insurance manager for Merrill Lynch Insurance PCC Limited.
It said this was the first protected cell company (PCC) authorised on the island.
Willis Captives Practice leader, Malcolm Cutts-Watson, said the new PCC would enable the Isle of Man to compete on the international stage.
He said: “We see many exciting applications of this facility.”
