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Captive Insurance Key Industry Issues in 2009

Captive Insurance Key Industry Issues in 2009. 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

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Captive Insurance Key Industry Issues in 2009

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  1. Captive InsuranceKey Industry Issues in 2009 Babrow Building | The Valley | Anguilla | British West Indies | AL-2640 | Telephone: (284) 494 4717 | Fax: (284) 494 8356

  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. Babrow Building | The Valley | Anguilla | British West Indies | AL-2640 | Telephone: (284) 494 4717 | Fax: (284) 494 8356

  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 Babrow Building | The Valley | Anguilla | British West Indies | AL-2640 | Telephone: (284) 494 4717 | Fax: (284) 494 8356

  4. Types of captives Single parent captives Group captives Diversified captives Agency captives Association captives Rent-a-captives Segregated Portfolio Companies (SPCs) Babrow Building | The Valley | Anguilla | British West Indies | AL-2640 | Telephone: (284) 494 4717 | Fax: (284) 494 8356

  5. Typical Captive Clients • S&P 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) Babrow Building | The Valley | Anguilla | British West Indies | AL-2640 | Telephone: (284) 494 4717 | Fax: (284) 494 8356

  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 (ISPV’s) Babrow Building | The Valley | Anguilla | British West Indies | AL-2640 | Telephone: (284) 494 4717 | Fax: (284) 494 8356

  7. Captive Statistics • In excess of 6,000 captive (re)insurance vehicles worldwide • Writing more than US$30 billion in premiums • 50+ active domiciles (compared to around 25 in 2003) • Capital and surplus estimated at over US$75 billion Babrow Building | The Valley | Anguilla | British West Indies | AL-2640 | Telephone: (284) 494 4717 | Fax: (284) 494 8356

  8. Anguilla Captive Statistics • Around 200 captive (re)insurance vehicles • Generally small to medium sized • Continued year on year growth Babrow Building | The Valley | Anguilla | British West Indies | AL-2640 | Telephone: (284) 494 4717 | Fax: (284) 494 8356

  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 Babrow Building | The Valley | Anguilla | British West Indies | AL-2640 | Telephone: (284) 494 4717 | Fax: (284) 494 8356

  10. Questions Babrow Building | The Valley | Anguilla | British West Indies | AL-2640 | Telephone: (284) 494 4717 | Fax: (284) 494 8356

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