BevCap Management (BevCap), an alternative risk programme manager with captives domiciled both on and offshore, has created HatterasRe, an on-shore domiciled option for BevCap Health’s medical stop-loss (MSL) programme.
Commenting on the formation, Mike Causey, North Carolina insurance commissioner, said: “I am delighted HatterasRe made the decision to domicile in North Carolina and I welcome them to our vibrant captive insurance programme.”
“I am confident HatterasRe will experience tremendous success as they operate within our state’s strong, healthy captive insurance environment. Welcome aboard,” he added.
Lance Abbott, president of BevCap Management, noted: “We are excited to officially become a North Carolina licensed captive insurance company. Our team at BevCap is energised by what the future holds for HatterasRe, both with our existing MSL programme, as well as other bespoke captive programmes for our clients, programmes, and agency partners.”
Recently, it was announced that Fleming Reinsurance, a Bermuda-based class 3A insurance company, established a custom reinsurance facility with BevCap P&C Protected Cell.
