SRS manages cell captives for our captives 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 captive facilities which are available for use by its clients.
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.
Y-Bridge Insurance SPC (Y-Bridge)
Y-Bridge is a segregated portfolio company domiciled in the Cayman Islands. It provides an offshore cell captive facility for clients that wish to establish a segregated portfolio or portfolio insurance company under the Cayman insurance laws. Y-Bridge was incorporated in 2007 and has been used by several SRS clients as an “incubator” for their risk transfer financing vehicle, eventually transferring their program to a stand-alone captive in the Cayman Islands or other domiciles. Y-Bridge is owned by SRS shareholders.
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.
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.