Captive & Insurance Management
JLT Insurance Management provides provide captive management services in Bermuda, Guernsey, Malta and Singapore and can also provide management solutions in Luxembourg, through a JLT Group affiliated company and Ireland through our strategic alliance with Allied Risk Management.
We have been providing captive management services to many leading US, European and Asian corporations and insurance and reinsurance companies since 2000. Today we manage more than 80 Captives and are able to offer Rent-A-Captive, Segregated Account and Protected Cell Captive solutions.
More recently we have become involved in providing management and consulting services for transformation reinsurance companies in Bermuda and Guernsey using our management company, Evolution.
Isosceles is the name given to the Rent-A-Captives facilities of JLT Insurance Management.
JLT Insurance Management (JLTIM) has two Rent a Captive facilities that it can make available to clients from Bermuda and Guernsey.
In both cases the vehicles can facilitate the retention of risk by the client as an alternative to establishing a stand-alone captive. The facilities can also be used for niche insurance or reinsurance transactions.
Some of the benefits of a Rent-A-Captive over a stand-alone captive are:-
- No or lower start-up costs
- Lower exit costs
- Less lead time for establishment
- No board structure required as the Isosceles companies already have established boards
- No visits to the domicile required
- Lower operating costs
- middle market alternative to a wholly owned captive
- specialised transactions where an owned captive is not desired
Bermuda - 'Isosceles Insurance Limited' - This is a company established under the Isosceles Insurance Ltd. Act, 1997 a private act of parliament in Bermuda. It is also registered under the Segregated Account Companies Act, 2000.
These pieces of legislation allow for the creation of Segregated Accounts (cells) in which clients assets and liabilities can be placed and segregated from those of other Cells.
The company has capital and surplus of USD$150,000. This capital is for regulatory purposes only and is not available to cell users. SAC company structures rely on contractual protections rather than balance sheet size.
The company is controlled by JLT Insurance Management (Bermuda) Limited.
Its auditors are PWC.
Primary contacts: Kilian Whelan or Beverley Todd
Guernsey - 'Isosceles PCC Limited' - formed in 2007 under the Protected Cell Company Ordinance, 2005. This allows for creation of segregated cells.
This legislation allows for the creation of cells in which clients assets and liabilities can be placed and segregated from those of other cells.
The company has current capital and surplus of £150,000. The PCC structure does not allow recourse from cell to core. Cells need to be fully secured by capital, LOC or other acceptable guarantee. The company is controlled by JLT Insurance Management (Guernsey) Limited.
Its auditors are PWC.
Primary contact: Shaun Le Prevost