BI DIRECTORY OF CAPTIVE INSURANCE COMPANY MANAGERS
Posted On: Apr. 13, 1997 12:00 AM CSTT
W.A. Taft & Co. Ltd.
Windsor Place, 18 Queen St.,
P.O. Box HM 2210, Hamilton HM JX, Bermuda; 441-295-8495;
fax: 441-292-1196
Founded: 1982.
Services*: Captive formation; government reporting; computerized accounting; computerized claims processing; reinsurance brokered for captives; underwriting and ratemaking; association captive management services, including specialized accounting services and onshore services.
Staff: Two; one professional.
Clients: One active captive and one inactive captive managed at year-end 1996.
Compensation: Annual fee, commission, hourly.
Officers: W. Allen Taft, president; Richard Goff, executive vp.
Contact: W. Allen Taft, 610-430-7757 or Richard Goff, 410-296-1500.
**Some services are subcontracted to The Powerscourt Group Ltd.
Tate & Lyle Management
& Finance Ltd.
Jardine House, 33-35 Reid St., P.O. Box HM 337, Hamilton HM BX, Bermuda; 441-295-9911;
fax: 441-292-6139
Founded: 1979.
Parent: Tate & Lyle P.L.C.
Offers rent-a-captive services.
Frequent services: Government reporting, accounting, computerized claims processing, online access to claims data, claims reserves analysis, investment management.
Occasional services: Captive formation, manual claims processing, actuarial studies, loss forecasting, reinsurance brokered for captives, reinsurance brokered to captives, underwriting and ratemaking.
Staff: Four; three professionals.
Clients: Five active captives managed at year-end 1996. Captive premium volume, $38.8 million. Capital and surplus managed, $85.1 million. No minimum size client.
Compensation: Annual fee, $25,000 minimum.
1996 gross revenues: $5.2 million, 10% from fees charged for captive management, 1% from commissions charged for brokering insurance/reinsurance, 89% from other services.
Officers: James A. Kemp, managing director; Dermot P. Caslin, controller; Georgi C. Barbosa, assistant controller.
Contact: James A. Kemp.
Towner Risk Management Ltd.
Second St., Holetown, St. James, Barbados; 246-432-5950;
fax: 246-432-5952
Founded: 1986.
Parent: Towner Management Group Inc.
Offers rent-a-captive services.
Frequent services: Computerized accounting.
Occasional services: Feasibility studies; captive formation; reinsurance brokered for captives; managing underwriting pools/facilities; association captive management services, including specialized accounting services.
Staff: Six; three professionals.
Clients: Six active captives managed at year-end 1996.
Compensation: Annual fee, commission, hourly.
Officers: Christopher Towner, president; Lindell Earle, Ricardo Knight, account managers.
Triangle Insurance Management Ltd.
The Phoenix Building, 2 Reid St., Hamilton HM 11, Bermuda; 441-292-4364; fax: 441-295-3982
Founded: 1983.
Parent: Triangle Holdings Ltd.
Offers rent-a-captive services.
Frequent services: Feasibility studies; captive formation; government reporting; accounting; computerized claims processing; claims reserves analysis; loss forecasting; reinsurance brokered for captives; underwriting and ratemaking; association captive management services, including specialized accounting services.
Occasional services: Manual claims processing, reinsurance brokered to captives.
Staff: Four; one professional.
Clients: 10 active captives and three inactive captives managed at year-end 1996. Captive premium volume, $3.8 million. Capital and surplus managed, $22.6 million. No minimum size client.
Compensation: Annual fee, commission, hourly.
Officers: Bruce Fenton, president/managing director; Janice Witkowski, vp.
Trifoliate Ltd.
26 Cornet St., St. Peter Port, Guernsey GY1 1LF; 44-1481-710336;
fax: 44-1481-710696
Founded: 1984.
Contact: Michael Savage, managing director.
Subcontracts for captive management services with Channel Islands Insurance Consultants Ltd. in Guernsey.
TRISTAR Risk Management
6133 Bristol Parkway, Suite 300, Culver City, Calif. 90230; 310-342-0500; fax: 310-342-0503
Founded: 1987.
Parent: Sierra Center Inc.
Offers rent-a-captive services.
Services: Feasibility studies, captive formation, accounting, computerized claims processing, online access to claims data, claims reserves analysis, actuarial studies, loss forecasting, reinsurance brokered for captives, reinsurance brokered to captives; underwriting and ratemaking, investment management, managing underwriting pools/facilities, loss control, association captive management services.
Staff: 15; 11 professionals.
Clients: 10 active captives and three inactive captives managed at year-end 1996. Captive premium volume, $20.0 million. Capital and surplus managed, $38.0 million. No minimum size client.
Compensation: Annual fee; commission; hourly: professional, $45 to $150; clerical, $25 to $50.
1996 gross revenues: $45 million, 11% from fees charged for captive management, 5% from commissions charged for brokering insurance/reinsurance, 84% from other services, including loss prevention, claims management and claims investigation.
Officers: Tom Veale, president; Kevin Burke, Ken Beck, Linda DeVreugd, vps; Kathie Schaap, controller.