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Captive Insurance Key Industry Issues in 2009

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Captive Insurance Key Industry Issues in 2009 Babrow Building | The Valley | Anguilla | British West Indies | AL-2640 | Telephone: (284) 494 4717 | Fax: (284) 494 8356 – PowerPoint PPT presentation

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Title: Captive Insurance Key Industry Issues in 2009


1
Captive InsuranceKey Industry Issues in 2009
2
Folio Hyperion An Introduction
  • Folio Insurance Management Limited is a licensed
    captive insurance manager, offering a range of
    services in relation to the formation and
    management of captive insurance vehicles
  • Hyperion Risk Solutions Limited is a licensed
    insurance and reinsurance intermediary and
    international consultancy, specializing in the
    procurement of insurance solutions for a variance
    business needs.

3
Why form a captive?
  • Lack of available capacity in the commercial
    markets
  • Unreasonable terms and conditions being offered
    by the commercial markets
  • Creation of cost benefit arising from internal
    risk management controls
  • Access to reinsurance markets
  • Underwriting control and stability
  • Bottom-line protection against cyclical nature of
    commercial insurance markets
  • Tax optimisation

4
Types of captives
  • Single parent captives
  • Group captives
  • Diversified captives
  • Agency captives
  • Association captives
  • Rent-a-captives
  • Segregated Portfolio Companies (SPCs)

5
Typical Captive Clients
  • SP 500 Companies
  • Significant property owners (developers / hotel
    chains)
  • Government / Municipalities
  • Family business owners / Entrepreneurs
  • Medical Facilities / Nursing homes
  • Engineering / Mining
  • Associations (ICI Mutual, ALAS, OCIL)

6
Captives Additional Uses
  • Credit Enhancement
  • International Life Insurance
  • Conversion of banking products into (re)insurance
    products (bonds, credit default swaps)
    Insurance Special purpose vehicles (ISPVs)

7
Captive Statistics
  • In excess of 6,000 captive (re)insurance vehicles
    worldwide
  • Writing more than US30 billion in premiums
  • 50 active domiciles (compared to around 25 in
    2003)
  • Capital and surplus estimated at over US75
    billion

8
Anguilla Captive Statistics
  • Around 200 captive (re)insurance vehicles
  • Generally small to medium sized
  • Continued year on year growth

9
How can Anguilla sustain its recent momentum?
  • Key Issues
  • Organization
  • Private sector investment
  • Taxation /AML compliance
  • Highlight niche markets
  • Treaties
  • Direct and indirect marketing

10
  • Questions
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