SRS provides independent solutions for the management of commercial insurance and reinsurance ventures. We have been managing insurance entities for over 25 years with an alternative risk transfer emphasis. Our insurance capabilities cover the full range of commercial insurers (e.g. Classes 3 to 4 in Bermuda; Classes B(iii), C and D in Cayman Islands); mutual insurance companies; special purpose vehicles; protected cell, incorporated cell and segregated cell facilities of commercial carriers; and other commercially licensed insurance entities. Collectively, our managed insurance entity clients write over $8 billion in annual gross written premiums.
We are Full Service
We provide a full range of insurance management services from formation to on-going management.
Our insurance management and consulting services can bring a prospective insurance or reinsurance business to reality with licensing and supporting the commencement of underwriting. Our formation services include assistance in drafting corporate policies, assistance with financial modeling, filing of licensing applications and the selection of service providers.
In the initial stage of operations, SRS can provide a service team of professional staff to provide turnkey administration and accounting support. These services are tailored to the immediate needs of our clients and structured to allow a seamless transition to in-house systems as clients scale.
Once a business is established, our on-going services include:
- Risk consultation, including program design and capital optimization planning
- Flexible accounting support and financial statement preparation, with internal/external audit support
- Banking, cash management and treasury solutions including Letters of Credit and trust accounts
- Advice and support for ongoing regulatory and rating agency reporting.
- Representation as the Principal Representative with the local regulator and the primary contact for Economic Substance reporting
- Provision of a “home base” of offices for C-Suite and staff constituting a principal place of business, including a dedicated executive assistant and seconded employees as needed
- Expansion consulting, including product development, geographic expansion advice and business plan development and implementation
- Operational underwriting management services for most property/casualty lines including product design, underwriting, policy processing, premium collection, claims handling and administration
- Maintenance and reconciliation of underwriting and claims data
- Actuarial support to provide loss reserve analysis and independent Fair Value estimates
- Expertise regarding Bermuda BSCR and AM Best’s BCAR capital adequacy reviews
- Compliance, enterprise risk and governance support, including anti money laundering (AML), counter terrorism financing (CTF), and Code of Conduct requirements
Our insurance and reinsurance company services are available in multiple jurisdictions and domiciles including Barbados, Bermuda, the Cayman Islands, Europe and the US. Learn more.
Our staff include professionals who have worked throughout the re/insurance industry including CEOs and CFOs of US and offshore commercial insurance and reinsurance companies, including Lloyds and European insurers, as well as accounting support and IT staff from major commercial insurers and reinsurers. Our commercial insurance reinsurance team includes
I used SRS’s consulting services before we were an SRS client. The folks are smart, quick, strategic in thinking. The displays were professional and well- explained.