Captives
Additionally, our Bermuda staff can provide rent-a-captive solutions through American Safety Assurance, Ltd, a Bermuda-based segregated accounts company. A segregated accounts company is a fully licensed insurance company that can rent its license to other insureds in exchange for a fee. The company itself does not participate in the risk, it merely provides the facility for a third party to do so. Each cell within the rent-a-captive is legally separated from other participants, so losses by one participant do not affect another.
While the benefits of captive insurance are numerous, the capital and management resource requirements to create and manage a captive can be burdensome. Rent-a-captive structures are more economically feasible.
Benefits to the insured include:
- Highly customized policy terms and conditions
- Significant reduced initial capital requirements versus single parent captives
- Access to a portion of underwriting profit & interest earned on collateral
For further information please contact Liam Moloney at 1-441-542-7940 or by email at .(JavaScript must be enabled to view this email address) .