A semiconductor power device with bipolar regenerative switching characteristics provides insulated gate structures for controlling device turn-on and turn-off. Rapid turn-off is achieved in part by a lateral field effect pinch resistance and a vertical field effect pinch resistance produced by an electrically floating structure. The device is electrically isolated by layer of dielectric which allows it to be easily integrated with other circuit elements. The device can be controlled by low current and low positive voltages which provide for simpler interfacing and better electrical compatibility with other circuits in an automotive system. A method of manufacturing this device is also provided.