13 April 2016Actuarial & underwriting

Cim appoints captive experts

Cim Global Business, a Mauritius-based management company, has made two strategic appointments as its launches its accounting outsourcing offering to captive insurance managers.

Captive expert Malcolm Cutts-Watson has been appointed as an adviser to the team. He will draw upon his 30+ years’ experience in the captive management industry to deliver market intelligence and promote the Cim Global Business outsourcing proposition.

Cutts-Watson spent much of his career running successful captive management operations around the globe so understands the operational pressures facing insurance managers in today’s challenging environment.

His appointment follows the recruitment of Shaun Geils last year as head of operations of Cim’s outsourcing business that is focused on captive insurance. Geils previously worked as a captive insurance and insurance-linked securities (ILS) manager for the Kane Group in the Cayman Islands for 7 years and is familiar with leading insurance managers’ operating models.

Cutts-Watson said: “Captive managers can build resilience in their operating platform and reduce costs by implementing an outsourcing strategy. The key to success is to work with a partner who really understands the business, can demonstrate the capability to deliver and is culturally aligned.

“Cim Global Business offers all of this from their operational base in Mauritius, where they have invested in captive insurance capabilities and have proven experience at cross-border delivery. As such, I am delighted in becoming part of their team”.

Geils added “Malcolm brings a wealth of knowledge about captive business. We aim to utilise this to ensure our outsourcing offering to captive managers is relevant, competitive and quality assured.

“We offer a proven service that will reduce captive managers’ operating costs with no change in service standards. Through conducting the routine back-office accounting tasks, we allow our clients’ staff to focus on more strategic matters, including building stronger front-end relationships with their customers”.