Captive Insurers

History

Captives were created over 60 years ago to meet the needs of global companies to participate in the profitable risks historically left to the traditional insurance market.

The first Captives were established in Bermuda, today they can be domiciled in the USA, the Caribbean, Europe, Asia and the Middle East.

These structures are a best practice in risk management worldwide, with the vast majority of S&P 500 listed companies managing their risks through such vehicles.

There are around 7,000 Captives globally, which are responsible for generating a premium volume of approximately USD 200B annually.

captive insurers

Emblematic Captives

  • coca cola captive insurers

    The Coca-Cola Company's Red Re Inc - Founded in 2001.

  • cat captive insurers

    Caterpillar Insurance Company Limited (CICL) - Founded in 1993.

  • HD captive insurers

    Harley-Davidson Insurance Company, Inc. - Established in 1993.

  • ford captive insurers

    Ford Motor Company's Ford Motor Credit Company Insurance - Founded in 1964.

  • walmart captive insurers

    Walmart's International Insurance Company Limited (Walmart Insurance Company) - Founded in 1993.

  • imb captive insurers

    IBM's International Insurance Company of Hannover SE (IICH) - Established in 1977.

  • BP captive insurers

    BP's Jupiter Insurance Limited - Founded in 2007.

Implementation Process:

  • Initial analysis that contemplates the different characteristics of the business such as financial statements, operations and insurance programs including its historical loss ratio in order to determine the viability of the project.

  • Elaboration of a 5-year business plan that develops the insurance programs that will migrate to the captive.

  • Collection of legal documents, compliance processes, opening of bank accounts, incorporation, corresponding permits, and obtaining the license to operate.

  • Negotiation with different suppliers, alignment of contracts, selection process and issuance of policies to the captive.

  • Qualified management team, administration, accounting, actuarial scenarios, external audits, compliance, and policy renewals.