16 December 2016Law & regulation

CapAlt secures permission to increase number of Protected Captive offerings to 2,000

Captive Alternatives (CapAlt) has secured permission from the Office of the Commissioner of Insurance of Puerto Rico to increase the number of their protected captive offerings to 2,000, allowing them to provide this option to many more clients.

“We could not have been more pleased with the outcome of our meetings with the Commissioner,” said Mark Jacobs, CEO of CapAlt.

“This increase gives us the opportunity to offer more business owners a unique risk management product designed to protect their business and their assets.”

CapAlt elected to consolidate operations of their captives in Puerto Rico because of it described as the efficient, business friendly atmosphere, with a focus on serving US clients seeking efficient and secure risk management.

“The Commissioner’s decision to allow CapAlt to increase our number of captive offerings is another example of the strength of our partnership. Puerto Rico’s growing insurance sector and CapAlt’s innovative products and services are positioned to offer clients sound alternative risk solutions,” Jacobs concluded.