SRS manages Protected Cell Companies, Segregated Account Companies and Sponsored Captives (“cell facilities”) for our clients in different domiciles. Some of these facilities may be available for use by clients looking for a cell facility and we would be happy to make introductions to these or our managed group captives.
In addition, SRS has four cell facilities which are available for use by its clients. These facilities are located in different domiciles using different cell structures to provide our clients with the most choice. They are suitable for prospective captive owners looking for a rent-a-captive solution as well as capital market investors looking to participate in re/insurance programs.
Green Mountain Sponsored Captive (Green Mountain)
Green Mountain is a protected cell captive insurance company domiciled in Vermont. Licensed in 2012, Green Mountain and its clients are the beneficiaries of Vermont’s highly commended governance and regulatory environment. Green Mountain offers a turn-key captive solution in the largest US domicile. Green Mountain cells include captive programs insuring traditional property & casualty risk as well as group medical stop loss programs. Green Mountain is owned by SRS, Elevanta an association management organization and Southern Insurance Underwriters, a certified Managing General Agency. For more information visit gocaptivegogreen.com.
Coral Stone Insurance SPC, Ltd (Coral Stone)
Coral Stone is a Cayman Islands based specialty insurer and reinsurer facility for organizations looking for a third party risk transfer financing vehicle to establish a Segregated Portfolio or Portfolio Insurance Company under the Cayman insurance laws. Coral Stone was incorporated in 2020 to provide a specialty insurer and reinsurer facility to SRS clients. It has been used by several SRS clients as an “incubator” for their risk transfer financing vehicle, before transferring their program to a stand-alone insurance company in the Cayman Islands or other domiciles.
Outer Banks Risk Solutions, Inc (Outer Banks)
Outer Banks is an onshore rent-a-captive facility that offers turnkey captive insurance solutions to clients of SRS. Outer Banks is a North Carolina licensed protected cell captive insurance company fully controlled by SRS. The North Carolina protected cell structure allows for the creation of both protected cells (or unincorporated cells) and incorporated cells.
Outer Banks includes an onshore reinsurance facility for clients of SRS that are interested in decreasing their exposure to low frequency and high severity risks. The reinsurance facility was formed as an incorporated cell of Outer Banks and access is exclusively limited to SRS clients.
Superior Risk Solutions SAC, Ltd (Superior)
Superior is a Bermuda-based segregated accounts company regulated by the Bermuda Monetary Authority and registered under the Segregated Accounts Companies Act of 2000. Superior is owned, operated and managed by SRS. Superior provides a turnkey alternative to standalone captives. The segregated accounts company can be used for entities that want to move from a carrier or broker sponsored cell facility or as an incubator for start-up captive programs. Leaving a broker/carrier sponsored cell managed by SRS for a cell within Superior, the client continues to operate within the Bermuda domicile while retaining their existing service team.
Opportuna Insurance PCC, Ltd (Opportuna)
Opportuna is a Guernsey Protected Cell Company, licensed by the Guernsey Financial Services Commission. Opportuna provides a protected cell environment to support bespoke risk management solutions and is available for current and future clients who are interested in establishing a presence in Guernsey. Opportuna is owned, operated and managed by SRS. It provides a turnkey solution for captive insurance programs as well as a special purpose vehicle for financial transactions such as Insurance Linked Securities. Opportuna is registered under Guernsey’s pre-authorization program allowing cells to be set-up within 48 hours.
No matter what comes up, SRS always has an expert available in the particular issue or topic.
One thing we want from our captive manager is the knowledge they have regarding what others in our space are doing, best practices, new approaches to common issues and problems, and benchmarking. It is rare to find a captive manager who is willing, or able, to bring this knowledge to the table. SRS does and does it well.