Captive Insurance

SRS is the world’s leading independently owned captive management firm.

We operate in leading US, Europe and international domiciles. SRS has been managing captives in major domiciles worldwide since 1993. We are domicile-neutral and have the expertise to manage captives in any of the leading onshore or offshore domiciles, as well as Europe.

At SRS, we believe in partnering with captive owners to ensure that recommended solutions are practical, implemented effectively and deliver long term value to their sponsors. We combine high quality captive management services with strong consulting support to create an effective captive management relationship.

Our Services Include:

Our captive consulting services support the operations of our captive management business. Our experienced captive consultants provide both feasibility consulting and on-going consulting support to our captive clients.

Feasibility Consulting Services

As a captive management firm, we take a very practical approach to assessing the feasibility of a captive. We have hands on experience of what does and doesn’t work in captive insurance. We stand behind our feasibility advice in developing long-term relationships to manage successful captives. We will not take on a management contract unless we believe the captive is sustainable.

Our captive feasibility services include:

  • Pre-feasibility assessment
  • Development of loss projections in conjunction with actuary
  • Premium development
  • Captive program design
  • Cost benefit analysis
  • Domicile comparison
  • Development of financial pro formas
  • Business plan development
  • Capital and collateral assessment including negotiation with fronting companies
  • Identification and selection of service providers
On-going Consulting Services

Our consulting services support the operation and development of our existing captive clients.

Services include:

  • Annual premium development
  • Collateral estimation and negotiation
  • Drafting of policy wordings
  • New member underwriting for group captives & RRGs
  • Feasibility analysis for new lines of coverage
  • Re-domicile analysis
  • Re-structuring analysis (RRGs, branch captives, reciprocals, etc)
  • Strategic planning

A captive consultant is assigned to every management account to provide on-going consulting services, as required by the client.


SRS is the world’s leading independent captive manager bringing a depth of resources and consistent standards to our global operations. Yet we execute on a local basis through a network of local offices staffed by the leading captive professionals in their regions. Our captive management operations are organized regionally and staffed at the local level.

US Domiciles

We manage captives in all leading US domiciles operating through two regional US business units.

SRS East manages captives domiciled in the eastern United States.  The business is headquartered in Vermont, where we have been managing captives since the early 1990s and are the largest independent manager in the domicile. We also have a physical presence in Washington, DC; Charlotte, NC; Nashville, TN; and Charleston, SC. In addition to those domiciles our SRS East team manages captives in Delaware, New Jersey, Alabama and Georgia.

SRS West manages captives in domiciles in the western United States. The business is based in Scottsdale, AZ with satellite offices in Hawaii and Texas. SRS West also manages captives in Missouri, Michigan, Oklahoma, Utah, Nevada, and Montana.

International Domiciles

SRS Barbados manages captives and other international businesses domiciled in Barbados. SRS entered the Barbados market in 2017 with the acquisition of CGE Group a leading independent management company, which has been in operation in Barbados since 2003.

SRS Bermuda manages captives and several commercial reinsurers domiciled in Bermuda. We have been managing captives in Bermuda for over 20 years with a continuous physical presence in the domicile during that time. In 2020, SRS expanded its operations in Bermuda, with the acquisition of another leading independent manager headquartered in Bermuda.

SRS Cayman manages captives domiciled in Cayman. SRS has been managing captives in Cayman with a physical presence in the domicile since 2003. We are currently the second largest manager in Cayman and the largest independent.

SRS Europe was launched in 2017 to manage consulting and management operations in European domiciles and for European captive owners. Our European operations are headquartered in Dublin, Ireland with offices in Guernsey, Luxembourg, Malta, Switzerland and the Netherlands.

Our governance, risk and compliance (GRC) practice provides consulting services to a variety of risk bearing entities from captive clients to commercial insurers. With consultants in the US and Europe, our GRC services are provided both internationally and in the US. These services include:

  • Regulatory compliance
  • Internal audit
  • Independent governance review
  • Board effectiveness guidance and training
  • Company secretary
  • Independent directorships

Captive 360° is a proprietary approach to captive strategic planning available to all captives, not just companies currently under SRS management. Maximum value is realized by strategically analyzing every aspect of a captive’s operations and acting on the most important items.

SRS facilitators with decades of experience deploy Captive 360° to strategically analyze every aspect of a captive’s operations, helping captive owners and stakeholders get more value of their captives. Our proprietary methods, materials, and software deliver a plan in 30-45 days that is focused and actionable, then follow up through the remainder of the yearlong engagement to sustain momentum on implementation. Highlights of this service include:

  • Our proprietary methods, materials, and software deliver a plan that is focused and actionable.
  • Objectives are prioritized, a handful of initiatives are selected for implementation, and each project is assigned a champion and manager to ensure accountability and drive results.
  • We value your time. The five structured sessions are designed for efficiency, to make the most of your time commitment.
  • Captive 360° measures the value delivered by the focused action items, so you have a clear view of return on investment at the end of the engagement.

Captive 360° is a positive disruptor to help you get more out of your captive, regardless of type.

Medical Stop Loss: The use of captives for healthcare.

Writing medical stop loss coverage in a captive is a growing solution for both large companies and small to mid-size employers. It allows its owner to potentially reduce fixed expenses and retain underwriting profits that the carrier otherwise keeps. Combined, the captive owner can reduce year-over-year costs.

Download our brochure for more information.

Captive Structures

We have formed and managed a variety of different captive types and structures, including:

  • Single parent captives
  • Association or group captives
  • Risk retention groups
  • Agency captives
  • Rent-a-captives, sponsored captives, segregated account and protected cell companies. SRS also offers a variety of owned cell facilities for use by our clients.
  • Commercial insurance and reinsurance companies

We have experience handling different ownership structures including stock companies, mutuals, reciprocals, limited liability companies and non-profit captives.


Captives are most commonly used to insure primary casualty coverages (workers compensation, general liability and automobile). SRS has experience forming and managing many captives insuring these lines either as reinsurance or under a deductible reimbursement structure. We also have extensive experience in other lines of coverage and their use within captives.

These include:

  • Professional liability
  • Medical malpractice, both hospital and physician liability
  • Property insurance, including the use of captives for terrorism and catastrophe coverages
  • Medical stop loss
  • Group Life, LTD and other Employee benefits
  • Cyber liability
  • Reputation and enterprise risk coverages