Life Assurance Introduction
In the early 1980s, a decision was taken by the Isle of Man government to encourage diversification within the Island's economy and, as a consequence, there was a significant growth of the insurance sector.
The Isle of Man now has arguably the largest offshore life assurance sector, home to the international subsidiaries of highly-respected life assurance companies, which attract business from all around the world. There is a wealth of experience in the international services sector, with personnel responsive to the needs of this demanding market.
Since the Income Tax (Corporate Taxpayers) Act 2006, insurance companies have been subject to 0% (‘Zero’) corporate tax. The life assurance companies based on the Island are leaders in the development and distribution of innovative life assurance products, which meet the changing demands of an international market.