Thursday, January 30, 2025

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GCP Short: Forming the world’s first crypto custody captive

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Sarah Denerling, Walkers
Yusuf Hussain, Gemini

In this GCP Short, produced in collaboration with international law firm Walkers, we bring you a fascinating case study of the world’s first captive formed to insure crypto custody.

Richard is joined by Sarah Demerling, a Partner at Walkers in Bermuda, and Yusuf Hussain, Head of Risk at Gemini, a secure platform to buy, sell and store cryptocurrency.

Yusuf talks through why Gemini decided to establish a captive in January 2020, the state of the insurance market for crypto risk and what lies in the future. Sarah provides a legal perspective of the considerations involved and the regulatory environment’s response to this new type of risk.

GCP #44: Matthew Takamine, Matt McEwan and Belinda Fortman

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Pete Kranz, Brown & Brown
Matt McEwan, Coca-Cola European Partners
Belinda Fortman, Tennessee Captive Insurance Section

In episode 44 of the Global Captive Podcast, supported by legacy specialists R&Q, Richard is joined by Matthew Takamine, Captive Operations Leader at Beecher Carlson, to discuss the captive manager’s approach to COVID-19, the profile of the Hawaii captive market and important regulatory and legislative activity.

The captive owner interview is with Matthew McEwan, Director of Risk Management at Coca-Cola European Partners. CCEP owns a captive in Dublin and Matt discusses broker consolidation, the hard market and employee benefits.

Finally, Richard is also joined by Belinda Fortman, Director of the Tennessee Captive Insurance Section, to discuss the domicile, her new role as a regulator and how the good captives are separated from the bad.

GCP Short: Investment takeways from 2020 and what to do next

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Chris Dalziel, London & Capital
Michael Trudeau, London & Capital

In this GCP Short, produced in collaboration with Friends of the Podcast London & Capital, Richard is joined by Chris Dalziel, Executive Director, and Mike Trudeau, Portfolio analyst at London & Capital.

The trio look back on some of the key investment and market takeaways from 2020, what we’ve learned from them and what that should mean for captive insurance investment strategies going forward.

GCP Short: Front and reinsurance partners in expanding captive programmes

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Matthew Latham, AXA XL
Jason Flaxbeard, Brown & Brown

In this GCP Short, produced in collaboration with AXA XL, Richard is joined by Matthew Latham, Chief Underwriting Officer for Global Programmes and Captives at AXA XL, and Jason Flaxbeard, Senior Managing Director at Beecher Carlson.

Over the 20 minutes, they discuss the role fronting and reinsurance partners play when a captive is looking to take on more risk or write new lines, how that process plays out and the collateral requirements needed as well.

GCP Short: Writing D&O through a captive

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Lorraine Stack, Marsh Captive Solutions
Beth Thurston, Marsh

In this GCP Short, produced in collaboration with Marsh Captive Solutions, we explore directors’ & officers’ insurance and how it is becoming increasingly common for captives to write.

​Lorraine Stack, International Advisory and Sales Leader at Marsh Captive Solutions, and Beth Thurston, Head of the Marsh UK Management Liability Practice, address why Side B & C is being written through existing captives and the alternative solutions, including cell captives, for Side A coverage.

GCP #43: Ricardo Almeida, Heiko Ditzel and Dr Leena Johns

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Riccardo Almeida, MAXIS GBN
Heiko Ditzel, Adidas
Dr Leena Johns, MAXIS GBN

In episode 43 of the Global Captive Podcast, supported by legacy specialists R&Q, Richard is joined by Ricardo Almeida, Head of Business Development at MAXIS Global Benefits Network.

​The captive owner interview is with Heiko Ditzel, Director of Risk Finance & Transfer at Adidas. Heiko discusses his experience of the hard market to date and how captives can play an increase role in corporate insurance programmes.

​We are also joined by Dr Leena Johns, Head of Health and Wellness at MAXIS Global Benefits Network, who addresses how the pandemic has altered corporate’s priorities and focus in the benefits and wellness programmes.


For more episodes and to subscribe to the Global Captive Podcast see:

GCP Short: Covid 19 and captive insurance

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Joseph Holahan, Morris, Manning & Martin
Skip Myers, Morris, Manning & Martin
Tony Benedetto, NASW Assurance Services

In this GCP Short, produced in collaboration with Morris, Manning & Martin, Richard is joined by three US experts to discuss COVID-19 and its impact on captive insurance. They are:

​Joe Holohan, Attorney with the Insurance and Reinsurance Practice at law firm Morris, Manning & Martin.

Skip Myers, Partner and Senior Counsel within the same practice at Morris, Manning & Martin.

Tony Benedetto, CEO of NASW Assurance Services, which runs the captive and Risk Retention Group for the National Association of Social Workers.

Joe, Skip and Tony address the lawsuits already appearing as a result of the pandemic, the current state of RRGs during the crisis and how they are impacted, or not, by state mandates, and Tony provides first hand insight into some of the challenges NASW is having to overcome.

For more information on Morris, Manning & Martin, visit their GCP page.

GCP #42: Timae Flood, Al Gier, Hafi Ali and Simon Smith

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Timae Flood, Bermuda Monetary Authority
Al Gier, General Motors
Hafi Ali, Barclays Corporate Banking

In episode 42 of the Global Captive Podcast, supported by legacy specialists R&Q, Richard is joined by guest co-host Timae Flood, Assistant Director of Insurance Supervision at the Bermuda Monetary Authority (BMA), to discuss 2020 formation activity in the domicile and how the pandemic has impacted operations.

There is a fascinating captive owner interview with Al Gier, Global Director of Risk Management & Insurance at General Motors. GM owns one of the oldest captives in Bermuda and Al talks us through its evolution to date, its major programmes and how he ensures good governance of the captive.

Hafi Ali, Market Director at Barclays Corporate Banking, and Simon Smith, Head of Offshore Investments (Jersey, Guernsey, Isle of Man), discuss collateral options for captives and how the needs of captive are changing.

GCP Bonus: The US election and captives

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Mikhail Raybshteyn, EY
Chris Dalziel, London & Capital
Sanjay Joshi, London & Capital
Peter Halprin, Pasich LLP

In this special bonus episode, Richard is joined by experts across insurance, tax and investments to discuss the impact of the US general election on captive insurers as the race nears a conclusion.

The episode has three sections: Peter Halprin, Partner at Pasich LLP, on the impact on federal legislation relating to the Pandemic Risk Insurance Act (PRIA) and COVID relief package efforts.

Mikhail Raybshteyn, Partner in the EY Tax Practice and EY Americas Captive Insurance Services Co-Leader, addresses how the tax landscape could change for captives, particularly in the event of a Joe Biden Presidency, and how this might even impact captive formation activity before year-end. Sanjay Joshi, Head of Fixed Income, and Chris Dalziel, Executive Director at London & Capital, outline how the investment markets have responded to events this week and how captives should respond.

GCP Short: Taking employee benefits to the next level

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Paul Miehlke, MAXIS GBN
Bryan Jendretzke, Dow Chemical

In this GCP Short, produced in collaboration with MAXIS Global Benefits Network, Richard is joined by Paul Miehlke, Regional Manager West & Midwest US at MAXIS, and Bryan Jendretzke, Global Benefits Director at Dow Chemical.

Paul and Bryan will discuss how existing captive EB programmes are expanding, the good practice in executing that growth and the ultimate objectives and future evolution of these programmes.

Bryan also provides some background on the Dow Chemical captive, Dorinco Reinsurance Company, and its history in writing employee benefits.