The affiliated captives of Captive Resources, a consultant to member-owned group captives, have reached a combined premium volume exceeding $2 billion, double in under five years.
The company suggests it sees robust year-on-year growth in the captives insurance companies which it consults to.
“We attribute the continuing intense interest in group captive insurance to a strong economy, growing awareness among regional insurance brokers, and our vigorous educational initiatives for both prospective member-owners and their brokers,” said George Rusu, co-founder, chairman and CEO of Captive Resources.
“In addition, an increase in the number of homogeneous captives, has resulted in expansion into a wider variety of industries, and we’re also seeing an increase in the number of larger companies that generate higher premiums, exploring ownership in, and ultimately joining group captives.”
Nick Hentges, president of Captive Resources, commented: “There are certain aspects to Captive Resources’ group captive model that are very attractive to potential member-owners, including a predictable collateral formula, strong dividend potential, the ability to close policy years in a timely manner, and excellent risk management resources which help members to reduce their losses and lower their premium.
“The sustained growth in our core business continues to support our expansion into new areas and has allowed us to bring on captive-specific and other specialised talent to service our captive clients in more diverse ways.”
Captive Resources, Captives, North America