BevCap Management, the multi-line insurance programme manager with a focus in alternative risk structures, has formed a North Carolina-based captive insurance company called HatterasRe.
HatterasRe provides an onshore domiciled option for BevCap Health’s proprietary medical stop loss programme. It joins BevCap's suite of onshore and offshore captive insurance companies.
North Carolina Insurance Commissioner Mike Causey welcomed the formation, predicting HatterasRe will “experience tremendous success as they operate within our state’s strong, healthy captive insurance environment.”
Lance Abbott, president of BevCap Management, said: “Our team at BevCap is energised by what the future holds for HatterasRe, both with our existing medical stop loss programme, as well as other bespoke captive programs for our clients, programmes, and agency partners.”
BevCap Management is based in McKinney, Texas, and serves as the programme manager for numerous companies across the US.