Captive Insurance Management Questions & Answers

JLT Insurance Management provides leading corporations with Captive Management services in Barbados, Bermuda, Guernsey, Malta, Singapore and the United States. With annual written premiums and assets of over USD 2.3 billion and USD 4.9 billion respectively, we’ve a proven track record in helping clients choose a fitting domicile for their Captive insurance company by evaluating business goals and operational issues. In fact, over 20 of our current captives have transferred from other Captive Insurance managers.

The team answer a series of frequently asked questions. Contact us if you would like to discuss any of these questions and answers in more detail.

WHAT HAPPENS IF...

Talk to a captive manager about self-retention options including captive insurance solutions.  This can demonstrate commitment to good risk management to your insurer, and take some onus off the market.

A captive manager can support your risk financing for cyber insurance through a captive.  It can fill in gaps in coverage, or offer broader coverage than that offered in the market, as well as provide data to transfer this risk into the market at a later date.

Small and medium sized enterprises are accessing captive benefits through Rent-a-captive and Protected Cell Company solutions. This means you can access the benefits of the captive with lower entrance costs.

Speak to a captive consulting team who can offer a strategic review/re-feasibility study to examine how well your captive is running, and how it will work better.

Speak to a captive manager to see if you can include this in your existing captive, or set one up to offer third party insurance to your customers.  This can diversify your captive, generate some income, and ensure your customers get sufficient insurance.

Your broker and captive team will work together to find the optimal point to retain risk in your captive, and the point to transfer out to the insurance market.  This will help you to plan so you never pay more in claims than you are able to in a year.

The reinsurance market has greater appetite for larger quantities of this risk. Rent-a-Captive/Protected Cell Company facilities can act as a conduit to the reinsurance market to get sufficient coverage.

Speak to your insurance broker about conducting a longevity swap into the reinsurance market.

Your insurance broker’s captive and employee benefits teams may work together to support you with moving your employee benefits programme from the market to pooling, and ultimately into a captive, providing significant savings.

Undertake a Base Erosion and Profit Shifting review through your captive manager which will demonstrate the value of the captive and rationale for setting up and running your captive.

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