Risk management services firm, Hanover Stone Partners, has launched a new practice that will provide a wide range of governance and related advisory services for captive insurance companies and their parent organisations.
Hanover CaptiveGuard draws upon the experience of Hanover Stone Partners network of 36 senior risk advisors and 25 specialty partner firms to assist parent organisations and their captive subsidiaries.
The Services CaptiveGuard offer include: actuarial reviews, global and local insurance regulatory compliance, evaluating captive management company’s performance and facultative and treaty reinsurance market security.
In addition, the new practice will also provide strategic and financial reviews of a captive’s underwriting portfolio and evaluate potential strategies to accelerate growth, improve underwriting profitability, and increase return on capital.
John Kelly, managing partner and founder of Hanover Stone Partners commented in a recent statement: "As organisations around the world look to expand the utilisation of their captives - including writing third-party business, funding employee benefit programs and through intra-company investment activities - their captive operations have become increasingly complex and their risk profiles have evolved,"
"As a result, they require more robust oversight and governance, as well as continual objective and independent operational review."
