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Capstone Looks To Acquire Captive Management Portfolios

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November 16, 2018

In its latest expansion push, Houston-based Capstone Associated Services, Ltd. said it is interested in acquiring the US captive management portfolios of other captive insurance management firms.

This was prompted when Capstone was called on by another captive management organization to assist in the design, formation, and ongoing management of that organization's own clients' captives.

Stewart A. Feldman, CEO and general counsel, said, "Over the years, we've seen captives fail because there's no effective oversight of the insurance, tax, legal, actuarial, and many other critical aspects of the planning."

Mr. Feldman added, "Most of the work is segmented, and often, important work, such as pricing, policy design, and claims is given insufficient attention. If an alternative risk planning program is to be successful, there must be a cohesive and coordinated group of qualified professionals working together."

Clete Thompson, vice president of Business Development, is heading up Capstone's acquisition efforts.

"The many moving pieces needed for a successful captive program under one roof places Capstone in a unique position," said Mr. Thompson.

He continued, "Capstone continues to be bullish on alternative risk planning. We continue to ramp-up efforts to meet today's increasing oversight. Along with the affiliated The Feldman Law Firm LLP, Capstone is excited to take on new books of business. The goal is to continue to set the gold standard, in captive operations."

Capstone said that since its 1998 inception, the company, along with The Feldman Law Firm LLP, has formed well over 200 captives.

"The nature of captive planning calls for heavy involvement by tax and corporate lawyers working cooperatively with insurance professionals," Mr. Feldman commented.

He said, "We don't think it's possible to properly engage in captive work without significant involvement by CPAs, actuaries, other insurance professionals, and tax and corporate lawyers, who are knowledgeable of captive requirements."

Jeff Carlson, president of Capstone, said, "Rather than offering a fragmented or strictly 'clerical' or 'administrative' based service, Capstone coordinates the insurance, tax, legal, regulatory, and other facets of the planning."


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