Articles
Sun Shines on Barbados
By Captive Review, Feb. 2023 captivereview.com After Barbados was recognised as the fifth largest domicile in the world, and fastest growing off-shore domicile in our 2022 World Domicile Update, Kirk Cyrus, managing director at SRS Barbados, talks to Captive Review about the enduring appeal of Barbados for captives, and how it will keep growing this year.
SRS: Cell Vehicles, Domicile Differences
Protected Cell Companies - 25 Years In By Peter Child, CEO SRS Europe Twenty-five years ago, Protected Cell Company (‘PCC’) legislation was enacted by the States of Guernsey introducing the world to the concept of the cellular company. A number of local legal, and insurance practitioners were involved in the genesis and drafting of legislation, but it is Steve Butterworth, the Insurance...
SRS: “Going Green-Captives”
How can the captive industry adapt to the developing impact of climate change and adopt measures to mitigate impact to their shareholders, themselves, and the natural environment? One can separate the green equation for captives into three distinct but overlapping areas: the underwriting portfolio; the investment portfolio and corporate governance. There is an assumption that most captives are...
Leveraging the Barbados Insurance Brand
Leveraging the Barbados Insurance Brand The year 2021 was one of significant growth for captive insurance in Barbados. There were 34 startups and according to the statistics released by the Financial Services Commission (FSC), there were 308 active licensees in Barbados at the end of 2021.Of that number, 50 percent of licensed entities source their business from Canada, followed by a further 24...
Captive Governance and the Insurance Manager
There is tension at the heart of every captive insurer. This fundamental tension arises from the fact that for every captive shareholder is also in some way, shape, or form the captive’s client. If we step back and consider the relationship between shareholder, insurer, and insured in the commercial world the relationship between the parties is clear. At its simplest: the insured buys a policy...
Captive Feasibility – Why You Need It & What to Expect
Captive Feasibility Why You Need It & What to Expect by Jesse Olsen, SRS Director - Advisers Captives can be an attractive, sometimes exotic, option to solve a risk management challenge or enhance an insurance program structure. There are a number of factors that should be evaluated before implementing. During the worst days of the 2008 Financial Crisis, Warren Buffett was famously...
Captive Insurance: State of the Market
Captive Insurance: State of The Market Strategic Risk Solutions (SRS) is publishing this white paper for the benefit of clients and partners to provide information on the major trends affecting the captive insurance industry and developments that occurred in the industry in calendar year 2021. The material presented in this report was the subject of our webinar: Captive Insurance – The State of...
SRS Presentations at Airmic Captive Forum
SRS Presentations at Airmic Captive Forum SRS' Peter Child, CEO Europe and Richard Paris-Smith, Client Services Leader-Europe were recently featured as speakers during the Airmic Captive Forum. Peter spoke about governance within the captive process, while Richard's presentation focused on the role of the captive manager. Both provided outstanding information and the video clips can be found...
Structured Reinsurance: A Renaissance?
Structured Reinsurance: A Renaissance? by Neil Campbell, Senior Consultant, Strategic Risk Solutions Corporate insurance buying strategies are changing. Maybe it has taken the challenges being encountered in the continued hard market to finally shake things up. Buyers are getting frustrated, hemmed in by the need to demonstrate value whilst having to operate to tight budgets with lean resources,...
A Barbados’-eye perspective of the captive insurance market
Invest Barbados, Kirk Cyrus, Captive International, 2020 "Active risk financing using captives is inescapble given the expectations of future systemic risk events relating to climate change." Kirk Cyrus, Strategic Risk Solutions In its 2020 “Global Risks Report”, the World Economic Forum (WEF) stated that the sustainable development of global economies would be impacted by key risks associated...
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