Services
Captive Formation
Feasibility Study
A feasibility study analyzes aspects of establishing an insurance company, which may include the following:
- Identification and classification of insurance risk, and the analysis of different risk transfer solutions, including a captive
- Overview of a plan to form and manage a captive
- Summary of insurance coverage's, premium levels, risk retention amounts, capital and solvency allocation, and financial projections for a captive
- Fronting arrangements (typically using licensed/admitted carriers) and reinsurance opportunities
- Discussion of regulatory, accounting, and tax issues
Business Plan
- Prepare a business plan that will detail the operation of a captive
- Prepare a 5-year pro forma financial statement, including balance sheet and income statement
Licensing
- Provide a focal point for all service providers
- Prepare application documents to submit to the insurance regulators
- Regular communication with regulators to discuss and obtain approval insurance license application
- Supervise the incorporation of the captive
- File the insurance application, provide any requested additional information, and pay the licensing fees