This GCP Short, produced in partnership with Zurich Insurance, focuses on the captive revolution currently taking place in Alberta, Canada.
The Energy Province implemented its captive regime in July 2022 and, at the time of recording, has 37 active captives.
In a 30-miute discussion, we hear from:
Zurich’s Al‑Nawaz Rajan, an actuary with more than two decades of dedicated experience in the captive insurance sector. Today, Al is the Zurich’s Western Canada Lead for Captive Fronting Solutions.
Hector Plascencia, Senior Vice-President and National Practice Leader for the Risk Advisory Practice at BFL Canada. Hector leads a multidisciplinary practice supporting organisations across Canada on strategic risk management and alternative risk financing.
Rick Da Costa is Partner and National Leader at BLG. He is an insurance and reinsurance lawyer, who provides practical legal and business solutions to clients on insurance, reinsurance and captive insurance related issues. He has been an active supporter of the Alberta captive legislation and helped encourage the change in regulation to allow for captives in the domicile to insure third party risks. He was also the first to successfully re-domesticate a captive to the Province.
The guests cover why Alberta has proven to be an appealing, new option for Canadian businesses, the types of companies embracing captives, the opportunity for further growth and some of the challenges that lie ahead for the jurisdiction.
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