Euroguard is a specialist protected cell company.

Gibraltar-based, Euroguard Insurance Company PCC Limited was formed in 1996 as a contractual cell captive insurer and became part of Momentum Metropolitan Holdings Limited in 2014, when the latter acquired Guardrisk, the world’s largest specialist captive insurance group, based in South Africa.

Euroguard converted to a Protected Cell Company (PCC) in January 2007 and was the first Gibraltar-based contractual cell company to do so.

On implementation of a structured insurance programme, the protected cell owner purchases a unique class of preference shares in Euroguard. Each share block comprises a distinct class of non-voting preference share carrying a dividend entitlement related to the insurance business of that particular protected cell. The shares issued to cell owners provide the capacity to write business, ensuring that the necessary solvency requirements are maintained. In the first year, the solvency is supported by the share capital and share premium provided by the cell owner but in subsequent years, the retained profits of each protected cell can also be used to support the solvency requirements. Retained profits can be returned back to the cell owner by way of dividends or used to retain greater risk within the protected cell for the direct benefit of the cell owner and associated policyholders of the specific insurance programme.