Allianz Global Corporate and Specialty (AGCS) is enhancing the capabilities and resources of its alternative risk transfer (ART) line of business, by targeting growth opportunities in captive solutions with a strong focus on captive fronting. The initiative comes in response to a growing customer interest in tailored solutions that complement traditional property and casualty products. As well as targeting growth opportunities in the captive sector, ART will focus on the area of structured solutions, which are multi-year and multi-line coverages that include parametric coverage. In addition, the AGCS captive solutions team, led by Brian McNamara, has been integrated into the AGCS’ multinational business to serve multinational companies with their own in-house insurer. The team will house a broad range of solutions, powered by the global network of Allianz Group in more than 200 countries and territories. On top of captive fronting AGCS provides a range of solutions for captives such as reinsurance and stop-loss mechanisms to protect the captive retention. It also supports captives with additional structured solutions for specific risks. McNamara (who is based in Bermuda), says: “In the past two years, many organisations turned to captives by establishing new in-house insurance programmes or expanding existing ones by adding new lines of coverage, such as cyber or even third-party risk from customers or suppliers. “We can help captive parents get the most out of their captive and [to] maximise the benefits of self-insurance, leveraging our captive expertise, in combination with our wider alternative risk transfer capabilities.”
