Hanover Stone Partners (HSP) and USA Risk Group have agreed to collaborate on captive management, governance and other related services.
The partnership will provide businesses and other commercial entities with the full range of their alternative risk financing activities, including using captives to self-fund US employee benefits.
John Kelly, managing partner of HSP, commented: "Captive formations and utilisation continue to expand as businesses find new uses for captives - especially given the current drive to self-fund employee benefits under the US Affordable Care Act, as well as their ongoing involvement in property-casualty programmes to increase retentions, fill gaps in insurance programmes, and address complex and emerging risks.”
President of USA Risk Group Gary Osborne added: “We're excited to be part of their network and look forward to our work together."
