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NFP Corp. said Tuesday it has set up a captive management company in Alberta following the enactment of captive legislation in the Canadian province.
NFP Captive Management (Alberta) Corp. will form and administer Alberta-domiciled captive insurance companies for its clients.
The Captive Insurance Companies Act in Alberta went into effect July 1.
Sam Jackson and Paul Young, industry veterans in the captives and alternative risks space, joined NFP’s complex risk solutions group in April.
Mr. Jackson, based in Calgary, was appointed vice president, captive management. He was previously senior broking adviser at Rogers Insurance.
Mr. Young was appointed senior advisor, captive management, also based in Calgary. He was previously vice president of finance at Accommodate Insurance Management Ltd.
British Columbia is currently the only other jurisdiction in Canada to allow captive insurance.