Theriault joins Strategic Risk Solutions.

Patrick Theriault has re-joined Strategic Risk Solutions (SRS). Theriault will lead the firm’s efforts in the health insurance trust area and oversee the development of SRS’s protected cell company, Y Bridge. He will also be active in supporting SRS’s captive consulting and management operations and will serve as a relationship manager and peer reviewer on selected captive accounts.

Theriault joins SRS from Wilmington Trust Captive Management Services, where he oversaw all captive management operations including all insurance company, client accounting, and regulatory functions. Patrick previously spent five years with SRS as the Director of Operations and Finance for its Vermont captive management business.

“We are very pleased to welcome Patrick back to SRS”, said Brady Young, President of Strategic Risk Solutions. “Patrick is well respected in our firm and in the captive community in general. He will be a valuable addition to our team as we expand our initiatives in the group health and cell captive areas,” added Young.

SRS has been at the forefront of the use of captives for group health insurance. The firm’s services in this area include captive consulting, program management, captive management and trust services. With health insurance premiums continuing to rise and few options available for small to medium sized employers, there has been strong interest in the use of group captive structures to manage health insurance costs. “I am looking forward to expanding my activities in the captive industry”, said Patrick Theriault. “This role gives me the opportunity to be involved with and influence a growing area of the captive industry, while remaining active in the traditional property and casualty side of the business”, added Theriault.

Y-Bridge Insurance SPC, is an affiliated company of SRS. It is structured as a segregated portfolio company in the Cayman Islands and is available for use by SRS clients. “We have used Y-Bridge largely to accommodate client captive programs where it makes sense, without strongly promoting it as a service”, said Brady Young. “We also manage a number of client cell captives all of which have been active in group health insurance and are seeking more business. Bringing Patrick on-board will allow us to evaluate the role for Y-Bridge within our cell captive options and to take a more proactive approach to the development of our cell captive business generally”, added Young.