Being one of the world’s leading insurance and risk management brokers means that clients of the Willis Captive Practice Team have access to a number of world class services that can enhance any chosen risk financing strategy.
Reinsurance Services
Willis has unparalleled access to the international reinsurance markets, uniquely positioning us to provide creative solutions that allow our captive clients to enhance their margins and maximize their profits. With a myriad of contacts and extensive marketing expertise,
our broking colleagues provide bespoke reinsurance for all classes of insurance for captives located in domiciles across the world that it is based on proven stability and impeccable security. Willis Re can also provide catastrophe modelling expertise, an exercise that has proven exceedingly valuable to large multinationals with extensive property assets.
Actuarial Services
It’s an obvious point, but captives with liabilities to meet, especially long-tail claims, need to make prudent provisions. When profit levels are being scrutinized – under Controlled Foreign Company legislation, for instance – an independent justification of the reserves written down against corporation tax is crucial. Using sophisticated statistical techniques Willis actuaries can estimate an appropriate level of current and future reserves. As an independent corroboration this couldn’t be more valuable, given the high regard for integrity and impartiality afforded the actuarial profession, by both the markets and tax authorities. That is a great help when it comes to resisting pressure from accounting and tax bodies to bring forward profits, which could result in loss of investment income, and insufficient reserves to meet future claims. Our actuaries can also help with advice on pricing for covers, support in dealing with the tax authorities and cash flow projections to aid decision making. These services are also fundamental to assessing the optimum risk financing strategy for clients.
Portfolio Transfers
Change is the one certainty in business. Whilst one set of circumstances will dictate a certain risk retention strategy, issues such as fluctuating operating conditions, the growing volume of accumulated risk, evolving risk profiles or the need to release profits locked away in underwriting reserves may mean your risk retention strategy has to change. At Willis, our track record in designing portfolio transfers to the satisfaction of clients and insurers speaks for itself. Whether the best solution is a portfolio transfer to another captive within the economic family, or to a third party insurer, Willis uses a tried and tested framework to create individually structured transfer instruments that will meet your business objectives. And if it comes to a sale, our reputation for excellence guarantees the best value.
Loss Management
The performance of your chosen loss management service provider has a direct bearing on the loss reserving practice and cash flow requirements of your captive. It is important that this service is carried out efficiently and in keeping with protocols agreed at the onset of any contact. Our captive management teams will monitor and track the loss manager’s performance and report to you at regular intervals on any shortcomings measured against service level agreements in place. If this is not being carried out then you should look to make changes. Willis can give specialist advice on loss management service provider reviews and implement the appropriate service level agreements between captives, carriers and clients. Willis can also deliver the loss management service across the globe through dedicated teams with a knowledge of your business, streamlined processes and superior IT systems (generally available on line allowing clients to monitor progress).