Boal & Co (Pensions) Limited was established in the Isle of Man in 1995 by Gary Boal as an insurance consulting and pension services business, before branching out into pension trusteeship and administration in 1997.
Following the introduction of formal pensions regulation under the Retirement Benefits Schemes Act (2000), Boal & Co became licensed as a Professional Retirement Benefits Schemes Administrator with the Isle of Man Financial Services Authority.
To this day the Island remains as Boal & Co's Headquarters.
The Isle of Man, over the last 25 years, has developed into one of the largest and well-respected international finance centres, attested to by international bodies including the International Monetary Fund (IMF) and the Organisation for Economic Development (OECD). With proven success as a strong base for insurance companies, banks, retirement benefit schemes and emerging technologies, the Isle of Man has firmly established itself on the world stage as a globally recognised jurisdiction for international financial services.
Widely regarded as a centre of excellence for pension scheme services, the Isle of Man with its unique, flexible but robust regulation of both domestic and international retirement benefit schemes, offers individuals, companies, multinational corporations and their advisors an unequivocal jurisdiction for retirement savings schemes and pension plans. With several dominant leaders in this sector, the Isle of Man offers all services required by clients and advisors through professional, locally established companies with global reach.
Some of the world’s largest companies have chosen the Isle of Man as a domicile for their expatriate retirement plans, built on the robust yet highly flexible legislation allowing scheme designers to tailor solutions to the requirements of the client.
Isle of Man Business Park,
Isle of Man
Boal & Co acquired Zurich Insurance Group's Jersey-based trust business, Zurich Trust Limited in September 2015. The purchase of Zurich Trust Limited marked the expansion of Boal & Co pension trustee services into Jersey, complimenting services already offered in the Isle of Man and Gibraltar. The company was subsequently renamed 'Boal & Co Pensions (Jersey) Limited'.
The purchase demonstrated Boal & Co’s commitment to international pension business. By expanding our multi-jurisdictional offering, we are uniquely well-placed to meet the pension trustee needs of multinationals and other companies requiring flexible retirement benefit and long term savings solutions for globally mobile expatriates and other international employees.
Jersey is one of the world’s foremost international offshore finance centres with a high local presence of globally recognised financial firms and advisors. This, combined with a comprehensive infrastructure of laws and regulations, promotes client confidence and quality service.
Boal & Co first expanded into Gibraltar in 2013 with the introduction of a Gibraltar based QROPS. This marked a significant extension of Boal & Co's offering to expatriate clients and their advisers around the world.
The Boal & Co Gibraltar office opened in 2015, providing a local team for the Gibraltar market.
In 2022, Boal & Co Gibraltar's offering expanded to include a multi-employer pension scheme for local employers.
As a full member of the EU and EEA, Malta is becoming a dominant force in International Pensions, particularly QROPS.
Situated in the southern Mediterranean, Malta has risen into the ranks of Europe’s leading finance centres. This has been driven by the island’s reputation for stability, predictability and security together with a robust, EU-compliant regulatory framework and deep talent pool attracting companies from around the world seeking opportunities for doing business in Malta.
With English as an official language, legislation being published in English and based historically on common law, and with over 70 double taxation pension agreements in place, Malta makes an ideal jurisdiction for UK expatriates to hold their pension provision.
Boal & Co (Ireland) provides consultancy services to insurance companies established or considering establishment in Ireland and is the Irish Insurance member firm of Abelica Global.
The regulatory, business and taxation environment in Ireland provides an excellent base for insurers seeking to exploit the single European passport provided by the 'freedom to provide services' principles of the Insurance Directives.
Our team is well versed in Solvency II requirements and can help with all the actuarial needs of an insurance company from start-up, reporting and product development to mergers and acquisitions.