RMC Group has established a ready-made fronting and reinsurance facility for captive insurance companies interested in writing US medical stop-loss risk.
The facility is built for captive insurance managers and managing general agents (MGAs) that own their own captive insurance companies.
The facility supplies these captives with access to permitted carriers willing to reinsure to the captive manager or MGA’s captive.
The program has been approved for all 50 states, including the District of Columbia. The amenity was launched in March 2019 and was guided by RMC UK, the London-based reinsurance arm of RMC Group.
Ryan Mitchell, president of RMC UK, said: ”As the world becomes more complex and less certain, captive managers and MGAs need tools like this in order to evolve with the times.”
He continued: “This new facility provides them with the tools they need to stimulate their business.”