Giant broker Willis has formed a strategic partnership with ACE Bermuda Insurance, a subsidiary of ACE Limited, based on the establishment of an ACE-owned Protected Cell Company in Guernsey.

The company, called ACE PCC Insurance, will write a wide range of alternative risk financing products backed by substantial net capacity of up to $200m.

Willis will provide management and marketing input.

Mark Kealy, underwriting manager at ACE European Markets Insurance, will be the main contact in ACE for PCC.