In this GCP Short, produced in collaboration with Walkers law firm in Guernsey, we address pension longevity transactions with Kate Storey, Partner at Walkers, and Ian Aley, Head of Transactions at Willis Towers Watson.
Ian and Kate talk listeners through what these transactions are, why they are becoming more commonplace and why the Guernsey ICC has really come to the fore for this strategy. We also debate why using an existing single parent captive often isn’t the right solution.
Kajima USA’s Vermont captive provides a “competitive advantage” for its six construction and five development companies, according to risk manager Mike Brown, speaking exclusively in an interview with the Global Captive Podcast.
Brown said the captive allows the group to pursue projects that they may not have been able to in the past and gives it more influence in claims handling procedures.
He explained that the companies in the group have a “great loss history” but the commercial insurance marketplace will only “reward you so much”.
“They never really want to fully reward you for the loss history that you achieve, and as a result of that, we’re missing some savings,” he said.
“We’re able to bring this same coverage, and better coverage in some cases, to our constituent operating companies through this captive for a much lower price and with a good deal more flexibility.”
He said the captive was formed in July of this year so it could ultimately bring some of the “profitability back in”.
The captive will begin by writing general liability, automobile and workers compensation insurance, but Brown said once they are comfortable with the operation of the captive, there are other lines that could be added.
He also detailed the reasons behind the decision to domicile the captive in Vermont.
“Well, we wanted to locate in the United States for sure,” he said. “On our original list, we probably had about 20 potential states.
“One of the things that we were looking for was a group of regulators that had a productive look at bringing new captive business into their state.” He concluded that it was decided that there was “none better than Vermont” when it came to potential US domiciles for its captive.
In this GCP Short, produced in collaboration with Friends of the Podcast the State of Vermont, we hear the story of Kajma USA’s new captive formation in Vermont this year.
Mike Brown, of Kajima, provides the client perspective, while Edward Precourt, Managing Director of Marsh Captive Solutions in Vermont, provides additional insight as the captive manager involved.
Sandy Bigglestone, Director of Captive Insurance in Vermont, also outlines the scale of formation activity taking place in the state again this year, and updates listeners on licence numbers.
In this GCP Short, produced in collaboration with Friends of the Podcast Zurich, we discuss financing health & wellness through a captive.
Reto Heini, Regional Distribution Manager at Zurich Global Employee Benefits Solutions, Andrea Steer, Senior Risk Consultant – Health & Wellbeing at Zurich, and Denis Cronson, Chief Sales & Distribution Officer at Zurich LiveWell, address some of the ways employers are supporting employers in implementing health and wellness initiatives, how organisations’ approach to health and wellness has evolved over the past five years and the current status and approach to health and wellbeing by captives.
In this GCP Short, produced in collaboration with A.M. Best, Richard is joined by Mathilde Jakobsen, an Analytics Director within A.M. Best, Riccardo Ciccozzi, a Market Development Director for AM Best Europe’s Rating Services, and Derek Bridgeman, Managing Director at Strategic Risk Solutions (Europe).
The trio discuss the latest proposed changes to Solvency II, what impact they may have on captives and how that could effect ratings of captives in Europe. They also address ESG – a hot topic on the podcast and in the corporate world generally – and how captives and AM Best are thinking about ESG today.
This GCP Short, produced in collaboration with EY, outlines how the OECD’s latest work on Base Erosion and Profit Shifting (Beps) may impact Singapore and the captives domiciled there, as well as discussing captive trends in Japan.
Richard is joined by Adrian Halter, a Financial Services and Tax Partner based in Singapore and a member of EY’s Global Captive Network, and then James Littlewood, a Partner in Client Services for EY Strategy and Consulting, based in Japan.
In episode 59 of the Global Captive Podcast, supported by legacy specialists R&Q, Richard is joined by Ellen Charnley, President of Marsh Captive Solutions, to discuss formation activity in 2021 and the annual Marsh Captive Landscape Report released in September.
We also have a third quarter investments update from London & Capital with Shadrack Kwasa, executive director, and portfolio manager Jack Smith, who address the macroeconomic highlights from the previous three months, inflation and stagnation and what captive investors should be considering in the next quarter.
This GCP Short, produced in collaboration with Friends of the Podcast Morris, Manning and Martin LLP, is all about captive governance in the United States.
Richard is joined by Joe Holahan, Partner within the firm’s insurance and reinsurance practice, and Dana Sheppard, Associate Commissioner within the Risk Finance Bureau at the District of Columbia Department of Insurance, Securities and Banking.
Joe and Dana discuss how corporate governance expectations have changed for captives in recent years, whether captives are behind the curve and why good governance is important.
This GCP Short is produced in collaboration with Friends of the Podcast Captive Resources and all about risk management for group captive members.
Our guests are Andy Johnson, Chief Risk Officer at Captive Resources, and Lorraine Martin, President and CEO of the National Safety Council, who discuss the importance of best practice safety practices in the workplace, how the pandemic has changed the workplace environment, how investment in risk management can be quantified in terms of return on investment, and why Captive Resources works so closely with their group captive members on the topic of safety and risk management.
In episode 58 of the Global Captive Podcast, supported by legacy specialists R&Q, Richard is joined by guest co-host Paul Corver, Group Head of Legacy M&A at R&Q.
The episode also includes a fascinating extended captive owner interview with Tobias Winkler and Andreas Brügel, who work in senior positions for Lufthansa’s 90-year-old captive Delvag.
Corver discusses recent legacy transactions completed with General Electric’s Dublin-domiciled captive, and the September loss portfolio transfer with Delvag, as well as wider trends in the captive legacy space.
Andreas, Director for Reinsurance, and Tobias, Senior Director responsible for the underwriting department and the insurance lines of aviation, marine and reinsurance, give listeners a comprehensive history of Delvag, its status today, the third party lines it writes and recent restructuring projects.
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