Bruce Wright, partner at Eversheds Sutherland, explains the most common mechanism for moving a captive insurance company to a different jurisdiction.
Managing a captive efficiently comes down to having a streamlined approach. Captive managers coordinate multiple pieces such as actuaries, auditors, regulatory bodies, and financial statement preparation. A captive manager may want to look at a firm to help with back office support, according to Jeremy Colombik of Management Services International.
Many single-parent captives insure only the risks of just one or a few insureds and will be unable to achieve risk sharing. One solution involves joining a risk pool. The benefits of captive risk pooling are explained in this video by Martin Eveleigh from Atlas Insurance Management.