Concord, MA, September 11, 2017
Strategic Risk Solutions (SRS) today announced the formation of Superior Risk Solutions SAC, a Class 3 Segregated Accounts Company in Bermuda. The company, which will be licensed in September 2017, is being formed to provide a Bermuda cell facility alternative to clients and trading partners of SRS.
SRS currently manages three affiliated and more than twenty “limited access” cell facilities for clients in several other domiciles. “We have been increasingly asked if we can provide an independent and open access Bermuda cell captive option that allows clients to fully unbundle, while taking advantage of the established infrastructure and strength of the Bermuda regulatory environment”, said Brady Young, President and CEO of Strategic Risk Solutions.
Besides providing a turnkey alternative for start-up situations, SRS believes the new segregated accounts company will be useful for entities that want to move from a carrier or broker sponsored cell facility or as an incubator for standalone captive programs.
“We have clients who left program facilities to set up their own captive programs in other SRS managed facilities. Superior Risk Solutions will give clients the option to stay in the domicile they are comfortable with and retain their existing service team”, said David Sykes,
Managing Director, Strategic Risk Solutions (Bermuda) Ltd.Inquiries about the use of Superior Risk Solutions should be directed to David Sykes at email@example.com.
SRS is the 4th largest captive management firm in the world and the leading independently owned manager. The company has representation in all major US captive domiciles, Bermuda and Cayman, as well as its recently established European operation. It provides financial reporting, regulatory compliance and program management services to existing and prospective captive insurance companies.
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