Astra Captive Management gets licence from Cook Islands

Astra Captive Management (Cook Islands) has been officially issued a captive management licence by the Financial Services Commission of the Cook Islands.

In a statement on LinkedIn Dean Spense, chief executive of Astra Captive Management (Cook Islands), said: “This achievement represents a significant milestone in our journey and strengthens our ability to provide specialised captive insurance management services in a globally recognised jurisdiction.”

According to Spense the Cook Islands is renowned for its robust regulatory framework and forward-thinking approach to captive insurance. “This licence enables us to offer businesses and organisations tailored risk management solutions, allowing them to establish and manage their own captive insurance entities with confidence and efficiency,” he said.

Captive insurance provides businesses with greater control over their risk financing, enhanced flexibility, and potential cost savings compared to traditional insurance models, Spense pointed out.

Spense said: “With our expertise and now, formal authorisation, we are well-positioned to guide our clients through the process of setting up and operating successful captive structures.

“This milestone would not have been possible without the dedication of our team and the trust of our clients and partners. We are excited about the opportunities ahead and look forward to leveraging this licence to support businesses in enhancing financial security, mitigating risks, and optimising their insurance strategies.

“We welcome conversations with businesses, insurance brokers, advisors, and stakeholders who are interested in exploring the benefits of captive insurance. Let’s connect and discuss how we can help you take greater control of your insurance future.”

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