Marsh is capable of delivering a comprehensive array of the services required to enable successful operation of a captive or an insurance company.An overview of the key insurance management services that are offered include:

Efficient client handling of underwriting and claims.

Provision and analysis of data.

Accounting.

Compliance and regulatory services (including full Solvency II compliance).

Policy administration.

Contract certainty.

Liaising with brokers, fronting insurers, and reinsurers.

Program structure review and design.

Drafting policy wording.

Registered office services.

Use of our office space when required.

Marsh offers clients the ability to incorporate and operate captive insurance companies, without incurring high staff, office, and infrastructure costs.

We work closely with clients to understand and define their business, risk financing strategy, and captive management needs. Our services are designed specifically for each client to complement their existing operations and personnel and to foster a seamless relationship between the captive and its parent organization.

Marsh takes a proactive approach to captive management, assisting clients to respond to changes in the regulatory environment, organizational strategy, or changes in market conditions and to ensure that their captive continues to deliver maximum benefit to its parent organization.

Marsh offers clients the ability to incorporate and operate their own insurance holding companies, without incurring high staff, office, and infrastructure costs. We respond to our clients’ corporate needs and complete the daily transactions that an insurance holding company requires.  While many companies concentrate solely on accounting services, we offer a wide portfolio of management services, including accounting, administration, human resources, and management information systems (MIS). 

Once you’ve made the decision to develop a captive or an insurance company, we will work with you to evaluate your organization’s business goals and geographic location and ensure you understand Malta’s infrastructure, tax structures, and treaties. We will lead the project to incorporate and obtain regulatory approval for your insurance company in as efficient a manner as possible. 

Marsh acts as the administrator for Insurance Linked Securities (ILS) and Reinsurance Special Purpose Vehicles (RSPVs) , providing a full range of services. Our approach to the provision of services is flexible—our procedures and systems are tailored to our clients’ requirements. Our services include:

• Administration — accounting, managing the regulatory process, compliance management, and reporting services.

• Prepare statutory financial statements, and liaise with auditors and tax advisors.

• Source independent directors and officers, trustee, or legal advisors.

• Ability to act as paying agent, as well as registered office for RSPVs.

Currently, Marsh manages more than 90 Special Purpose Vehicles (SPVs) comprised of aircraft, CDOs, life securitizations, synthetics, and other structures. Our experience in managing ILS structures extends to more than 65 transactions, including indemnity, parametric, and XXX structures.

As captive manager we monitor and coordinate the services of the various service providers, including auditors, actuaries, legal counsel, banks, and investment managers and the various fronting and reinsurance companies.   We have established excellent working relationships with major service providers in all these areas resulting in each company being able to service your captive insurance company in an efficient manner. 

The combination of routine daily contact with regulators, as well as being engaged to represent so many captive insurance clients, keeps Marsh Malta extremely well connected to regulators, industry groups, and service providers and ensures we are always early and frequently the first to know about industry developments. With a thorough understanding of the practical applications of insurance programs in addition to their accounting and compliance knowledge, our Malta captive colleagues are able to provide continuing advice on insurance industry customs, practices, developments, and other technical matters. 

We are leaders in the Solvency II field and have advanced in-house IT tools to make reporting and capital calculations fast and straightforward to provide you with considerable savings around this infrastructure.  

Though not faced often, managing the run-off of an insurance company or captive can present some unique challenges.  Due to our significant client portfolio we have experienced different run-off scenarios and can guide you through the regulatory and administrative processes to achieve the best results for your company.

Solvency II implementation represents a significant and complex project for captive owners of all sizes. We have been working with clients across the EU to ensure full compliance and we are ideally placed to assist in successfully managing the transition towards Solvency II, and in supporting ongoing management under the new regime.

Captive Advisory professionals, part of Marsh’s Captive Solutions Practice, provide specialized consulting services on the potential business and risk management benefits, the possible financial, strategic, and operational advantages, and the typical risks relating to captives.  Captive Advisory services are available to organizations considering the establishment of a captive and those already using captives and looking to re-evaluate their captive’s current operations and associated benefits.

Our team can agree to serve as a resource to discuss, analyze, comment on, and research captive issues or concerns that arise. Topics typically include capital commitment, reserves, premium parameters, investment options, expanded insurance offerings, corporate governance—or other captive issues that a client wishes to address.

One-in-five captives worldwide are managed by Marsh. In 2015, Marsh issued its eighth annual Benchmarking Report, titled “The World of Captives: Growth and Opportunity Without Borders.” These reports provide our clients with information and analysis designed to support risk management in achieving program efficiencies, reducing cost of risk, and optimizing the use of capital. Our annual benchmarking report is based on more than 125,000 data points, which means we have a privileged perspective into the captive market.

Click here to see our new Benchmarking Report 2015