Management services required by risk retention groups, captives and cells can differ between domiciles. We provide a full range of services, suited to clients' needs including:
- preparing a feasibility study – the decision to form a risk retention group, captive or cell will need a detailed analysis and assessment of the parent's risk profile, loss experience and premium expenditure;
- drafting the business plan – if the feasibility study confirms the need for a captive, the next step is to prepare a business plan and licence application for consideration by the chosen domicile's regulatory body;
- registering and incorporating the captive – once the licence application has been approved by the regulatory body, the company can be registered and incorporated;
- general representative – most domiciles require the captive to be managed by a general representative. We will perform this role, as well as providing the registered office and secretarial services for the captive;
- full range of "cell captives ", via use of our segregated portfolio, segregated account or protected cell companies;
- filing the quarterly and annual documents with the domicile, as well as with other states, as required with risk retention groups;
- further management services include:
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- maintaining accounts and financial statements of the captive: including liaison with local auditors and, if appropriate, the parent's auditors; |
Other services provided include: assistance with the selection of independent service providers; statistical analysis; liaison with regulators; placing reinsurance; and, when necessary, arranging for fronting companies.
