At Willis we have an award winning reputation for creating innovative insurance solutions designed to help business ventures meet and exceed their strategic objectives.
One way we do this is by working with the increasing numbers of organizations that are looking to retain and better manage their risks and helping them to achieve the optimal balance between risks that they choose to transfer out of their business and that which they keep in-house.
The vehicles for handling risks can range from deductibles held by local business units, to group central funds like captives, through to conventional insurance placements with third party carriers.
Recent developments with the European Union have led to a greater number of multinationals writing their own direct insurance via a captive insurer across Europe. Also in the USA we have seen, from the mid 1980's, many business groups and trade associations take advantage of the Federal Law that permits direct writing in all 50 states via Risk Retention Groups. These legal platforms help businesses to further drive down their cost of insurance transactions.
At Willis we are experts in managing captives for clients in domiciles across the world, using our local knowledge and consultancy services to ensure they create maximum value.
Our captive management service is present in all major captive friendly domiciles, our teams of highly qualified insurance and accountancy specialists provide a truly comprehensive management service that's as sharp on the detail as it is on the big picture.
Whether issuing watertight policy documentation, providing management information for strategic decision making or steering a safe path through the regulatory minefield, the Willis captive management service focuses on one goal: ensuring the long term success of your captive.
Specifically, we provide services in four main areas:
As one of the world's leading insurance brokers we can help with all aspects of insurance, from underwriting and programme design, devising claims procedures through to liaising with third parties such as brokers and loss adjusters. To make sure your captive is operating in line with your risk management philosophy, we can also advise on your overall insurance and reinsurance programmes.
Corporate Service Management
We can provide the complete range of captive related corporate services. This includes forming companies, corporate administration, corporate governance, presenting submissions to the appropriate authorities and identifying directors.
Accounting and Management Information
From record keeping through claims and underwriting analysis to preparing financial statements, our highly qualified teams provide the complete range of accounting and management information services. Providing regular managers' reports and liaising with financial and technical advisers is also part of our service.
As an entrepreneurial adviser we are always looking out for development opportunities, and work with captive owners, brokers and advisers to identify and evaluate potential new business.
As ever, the Willis captive management service is tailored to your needs. We can take complete responsibility for managing your captive, provide expertise in a discrete area, or act as management consultants, reviewing and overhauling under-performing areas on a project by project basis.
Global Captive Practice brochure 2011 (525k)