Captive Management
Captive
ownership can cover a wide
spectrum of options, including
single parent, multi-owned
associations, stock companies and
mutuals.
The types of business written
are highly diversified and
include, but are not limited to,
property, product liability,
professional liability, workers
compensation, credit, life and
mortgage default. ASL’s
management team works effectively
with all clients to determine the
correct captive structures in
order to optimize the resulting
benefits. Since incorporating its
first captive in 1974, ASL now
manages a large and varied
portfolio, with clients ranging in
size from $120,000 of minimum
capital to over $500 million in
assets.
The primary objectives and
benefits of establishing either a
Captive are:
- To
establish direct control
over the insurance program
resulting in greater
flexibility
over future planning
- To
reduce the peaks &
troughs of market rate
fluctuations
- To
provide clients with
underwriting profits which would
normally accrue to insurance
companies
- To
generate investment income
on premium and claim reserves
- To
exercise greater control
over claims management, reducing
experience modification or
rating factors and
ultimately reducing the cost of
insurance
- To
maximize any tax benefits
that may be available
The management services provided to our clients are always
of the highest quality, and performed by experienced and
professional staff. We pride ourselves on ensuring timeliness
for financial reports, compliance with all Bermuda regulatory
requirements, and on our effective communication with clients on all
pertinent aspects of their business.
With every client's needs being unique we tailor our services
according to those specific needs and our services cover, but are
not limited to, the following areas:
- Feasibility studies
- Creation of a suitable
captive vehicle
- Preparation and issuance of
insurance and reinsurance
policies and certificates of
insurance
- Collection of premiums and
reinsurance recoveries
- Validation and payment of
losses
- Treasury operations
- Provision of financial
statements tailored to client needs, and
annual statutory statements as
required by the Bermuda Government
- Provision of detailed
underwriting analyses
- Evaluations of investment performance
- Corporation
administration,
including the co-ordination of
AGMs and directors meetings and
serving as principal
representative or directors and
officers as needed
- Captive efficacy reviews.
ASL also ensures that its captives run smoothly by liaising with all other relevant service
providers such as Lawyers, Investment Advisors, Auditors, Loss Adjusters, Fronting
Companies, Reinsurers, and the
Bermuda Government.
