Isle of Man Assurance Limited (IOMA) is a long-established, privately-owned composite insurer regulated by the Isle of Man Financial Services Authority. IOMA Group dates back to 1975 when its founder and Chairman, Robin Bigland, established IOMA on the Isle of Man. In 1981, IOMA formed the first captive insurance company on the Isle of Man and was instrumental in pressing for insurance legislation critical to the establishment of the Isle of Man as a well regulated and reputable insurance centre and world leading offshore jurisdiction for life assurance business.
At its inception, IOMA primarily wrote the business of St. Christopher Motorists’ Security Association Limited which was an insurance policy designed to maintain the livelihood of those who lost their driving license. IOMA was also the first company to write extended warranty business in the motor trade and began to establish its reputation for innovation and a willingness to consider new proposals.
IOMA has grown into a financial services Group with the technical expertise and quality support services to provide niche wealth and insurance structuring services to a wide range of intermediaries and institutional clients. Other companies in the wider IOMA Group conduct activities related to pension scheme administration, captive insurance management, and other financial services activities.