Zurich North America has collaborated with Innovative Captive Strategies to create Envision Re, a group captive insurance company that looks to bring together companies that share a common interest in optimising their risk management programmes.
The creation of the group also aims to advance sustainable business practices.
The captive will be managed by ICS who specialise in creating member-owned group captives. ICS currently manages more than 35 group captives in both the property-casualty and employee benefit space.
Dawn Hiestand, head of group captives at Zurich North America, says: “Envision Re’s sustainability lens is unique in the group captives marketplace. The Envision Re captive will provide the usual advantages of a member-owned, Zurich-fronted captive, offering companies greater control of their auto, general liability and workers’ compensation risk management programmes, with the added value of services and support for members’ individual sustainability objectives."
Tim Flattery, captive consultant and shareholder at ICS, adds: “ICS has built its reputation around creating captives with higher engagement and more control with a peer group experience for its captive owners. This leads to loss ratios that outperform the industry standards.”
