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06 September 2013
Pittsburgh
Reporter Jenna Jones

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Simpson & McCrady launches captive spinoff

Simpson & McCrady Alternative Risk has launched Capterra Risk Solutions, a new business unit focusing on captive insurance.

Sandra Fenters, managing principal of Capterra Risk Solutions, said: “We have decided to launch our own brand to reflect our focus on captive insurance products.”

“Capterra consists of the same great team of dedicated professionals working in independent risk management and captive management services.”

Fenters added that the popularity of captive insurance companies in states that have adopted captive legislation. And while Pennsylvania doesn’t currently have captive-enabling legislation, it doesn’t stop Pennsylvania based companies forming a captive of their own elsewhere.

Edward Aiello has been recruited as Capterra’s captive consuktant and compliance officer. He previously held the role of vice president of global insurance at H.J. Heinz.

At Heinz, Aiello was responsible for the establishment and administration of both direct writing and reinsurance captives in onshore and offshore domiciles including Bermuda, Dublin, and Vermont.

At Capterra, clients will be assigned a team of experts, led by a personal relationship manager, to ensure that needs are being served by a single consistent team.

Thomas Bryan, owner of Bryan Materials Group, explained how his captive has benefitted from working with Capterra.

He said: “After our first meeting together, it became apparent that our captive insurance company could benefit from Capterra’s expertise and Sandra’s relationship with our captive’s domicile regulatory team.”

“We transitioned the management of our captive to their firm, and they have provided excellent stewardship to our captive.”

Capterra has also launched a new website to educate people on captive insurance. The site provides potential clients with insight into how they can take advantage of the benefits of forming a captive insurance company domiciled either onshore or offshore.

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