Isle of Man Location

The Isle of Man is a well established global financial centre with an outstanding reputation for investor protection and security

We fully understand the importance you place on protecting your investments.

That’s why we are located in the Isle of Man. With an Aa3 sovereign rating from Moody’s, winning the prestigious Best International Finance Centre award at the 2024 International Fund and Product Awards for the 6th time in 8 years and coveted OECD white list status, the Isle of Man now leads the world for international life insurance. 

The Isle of Man is not part of the UK but a self-governing dependent territory of the British Crown. The island is therefore able to determine its own levels of taxation independently from the UK. For example, there is no capital gains tax in the Isle of Man, which means that investments can enjoy tax-free growth whilst they are held offshore in the Isle of Man.

Sophisticated and effective regulation

The island’s principal regulator is the Isle of Man Financial Services Authority (IOMFSA), an independent statutory body responsible for the licensing and supervision of Isle of Man based banks, building societies, investment businesses, collective investment schemes and corporate and trust service providers.

The IOMFSA is highly respected worldwide, and liaises closely with other regulators to ensure those who choose the Isle of Man for their financial products can be sure of the highest standards of regulation and protection

Solvency requirements

The IOMFSA’s solvency framework requires that all Isle of Man insurers (including RL360 Services) set aside technical provisions which are expected to allow all policyholder liabilities to be met as they fall due for payment. The Isle of Man insurance regulations also require that insurers hold a minimum level of solvency capital over and above the technical provisions.  

This solvency capital is calculated as the amount of capital required for an insurer to withstand a 1-in-200 year shock over a 1-year time horizon. All three insurers within IFGL are capitalised in excess of this regulatory minimum solvency capital requirement.

Compensation reassurance

The Isle of Man has a Policyholder Compensation Scheme which protects policyholders should an insurer become insolvent. Subject to the terms of the scheme, policyholders are eligible to receive up to 90% of the insurer’s liability as it relates to their policy, wherever they may reside.  

The Isle of Man also provides an Ombudsman Scheme, which is a free, independent dispute resolution service for customers who have been unable to resolve a complaint with their financial services provider directly. 

You can find out more about why we are located on the Isle of Man here.