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Captive-Insurance.Net - Your Essential Captive Insurance Online Resource |
Dixons Using Captive Insurance - Guardian Newspaper Not Happy
Having managed to screw up their own economy in such a glorious fashion the UK is now looking for anything and anybody to blame. Next in the firing line
has come the Isle of Man and in particular the 100% legitimate practice of using Captive Insurance. Now you may be wondering how come something as business
specific as captive insurance has hit the mainstream but the answer is simple. A large number of the UK's biggest companies use Captive Insurance, one of those is Dixons and for
some reason that has angered the UK press enough to produce biased, lacking in fact but full of scorn pieces about the Isle of Man and the Captive Insurance industry as a whole.
Reading this piece in the Guardian newspaper in full reveals an amazing lack of detail and ommission of facts from the reporter in question. Amongst the many facts being missed are that
there are very active Captive markets in Dublin, Malta, The Channel Islands and Bermuda just to name a short few. Captive insurance is by no means specific to the Isle of Man and in no way is
Dixons taking advantage of "Manx Laws". They are simply using an established corporate structure for tax efficiency. It is 100% legal. Not only that but without the ability to use Captive Insurance
many of the UK's biggest companies would be spending much more on inflated insurance premiums payable to foreign insurance companies.
Captive Insurance is an entirely legal and legitimate process that many companies seek to use. Once again the UK Government will need to look closer to home for the reason why their economy has been shot to pieces. Perhaps as one of the
biggest Tax Havens in Europe the UK might consider maybe establishing its own Captive Insurance market. Surely they know by now that every penny helps?
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