BI DIRECTORY OF CAPTIVE INSURANCE COMPANY MANAGERS

C
Caledonian Bank & Trust Ltd.
P.O. Box 1043, George Town, Cayman Islands, B.W.I.; 345-949-0050; fax: 345-949-8062
Founded: 1970.
Frequent services: Government reporting, accounting, manual claims processing, banking.
Occasional services: Captive formation, investment management.
Staff: Five; four professionals.
Clients: Nine active captives and seven inactive captives managed at year-end 1996. Captive premium volume, $55.2 million*. Capital and surplus managed, $83.6 million*. No minimum size client.
Compensation: Annual fee, $5,000 minimum; hourly: professional, $150 to $250; clerical, $50 to $120.
Officers: David S. Sargison, managing director; David J.V. Burge, general manager; Peter L. Woolfall, manager-corporate services; F. Kate Bowring, manager-compliance; Bernard G.H. McGrath, manager-accounting services.
**Estimate.
Caledonian Management Ltd.
73 Front St., P.O. Box HM 2455, Hamilton HM JX, Bermuda; 441-295-1683; fax: 441-295-1704
Founded: 1988.
Frequent services: Feasibility studies, captive formation, government reporting, accounting, claims processing, claims reserves analysis, actuarial studies, loss forecasting, reinsurance brokered for captives, underwriting and ratemaking, investment management, consulting.
Occasional services: Association captive management services.
Staff: Two professionals.
Clients: Eight active captives managed at year-end 1996. Captive premium volume, $6.0 million. No minimum size client.
Compensation: Annual fee, hourly.
1996 gross revenues: 90% from fees charged for captive management, 10% from other services.
Officers: David A. Brown, president; Rhonda M. Caza, vp; Mark L. Carter, account executive.
Contact: Rhonda M. Caza.
Caledonian Management Ltd.
Highbury House, 3 Parliament Square, Castletown, Isle of Man IM9 1LA; 44-1624-825399;
fax: 44-1624-825309
Frequent services: Feasibility studies, captive formation, government reporting, accounting, claims processing, claims reserves analysis, loss forecasting, reinsurance brokered for captives, underwriting and ratemaking, investment management, consulting.
Occasional services: Actuarial studies, association captive management services.
Staff: Two; one professional.
Clients: Two active captives managed at year-end 1996. Captive premium volume, $8.0 million. No minimum size client.
Compensation: Annual fee, hourly.
1996 gross revenues: 90% from fees charged for captive management, 10% from other services.
Officers: David A. Brown, managing director.
Captech Management
Service (Barbados) Ltd.
CGM Building, Collymore Rock,
St. Michael, Barbados; 246-436-8296; fax: 246-426-0433
Founded: 1994.
Offers rent-a-captive services.
Frequent services: Feasibility studies, captive formation, government reporting, computerized accounting, computerized claims processing, online access to claims data, reinsurance brokered for captives, reinsurance brokered to captives.
Occasional services: Loss forecasting, tax advice, legal advice, association captive management services.
Staff: Four; one professional.
Clients: Three active captives managed at year-end 1996. Captive premium volume, $23.0 million. Capital and surplus managed, $3.3 million. Minimum size, $1 million.
Compensation: Annual fee, $15,000 minimum; commission.
Officers: Lawrence Dixon, president; Elizabeth Powell, vp.
Contact: Lawrence Dixon, 441-295-3974.
Captive Resources Inc.
201 E. Commerce Drive, Schaumburg, Ill. 60173-5338; 847-781-1400; fax: 847-781-1455
Founded: 1981.
Offers rent-a-captive services.
Frequent services*: Feasibility studies; captive formation; accounting; online access to claims data; claims reserves analysis; actuarial studies; loss forecasting; reinsurance brokered for captives; investment management; managing underwriting pools/facilities; loss control; association captive management services, including specialized accounting services and onshore services; claims and loss control oversight services; risk management training services.
Occasional services*: Government reporting, reinsurance brokered to captives, underwriting and ratemaking, tax advice.
Staff: 43; 38 professionals.
Clients: 20 active captives managed at year-end 1996. Captive premium volume, $172.0 million. Capital and surplus managed, $201.0 million. No minimum size client.
Subsidiaries: Captive Benefits Services Inc., Schaumburg, Ill.
Compensation: Annual fee.
1996 gross revenues: $6.1 million, 100% from fees charged for captive management.
Officers: Karl von Heimburg, chairman; George V. Rusu, president; Tom Ullrich, senior vp-marketing; Jennifer Beard, senior vp-operations; Michael Kilbane, CFO/treasurer.
Contact: George V. Rusu.
**Local services provided by Johnson & Higgins (Cayman Islands) Ltd.
Caribbean Insurance Management Ltd.
Columbus Centre, P.O. Box 362, Road Town, Tortola, British Virgin Islands; 809-494-4884;
fax: 809-494-6850
Founded: 1990.
Frequent services: Captive formation, government reporting, computerized accounting, computerized claims processing, audit by arrangement.
Occasional services: Feasibility studies; reinsurance brokered for captives; reinsurance brokered to captives; tax advice; association captive management services, including onshore services.
Staff: Three; one professional.
Clients: Six active captives and one inactive captive managed at year-end 1996.
Compensation: Annual fee, $5,000 minimum (negotiable); hourly.
1996 gross revenues: 80% from fees charged for captive management, 20% from other services.
Contact: Richard H. Clayson, managing director.
Cayside Insurance Management Ltd.
P.O. Box 2322, 1 Cayman House, N. Church St., Cayman Islands, B.W.I.; 345-949-8184;
fax: 345-949-7228
Founded: 1984.
Offers rent-a-captive services.
Frequent services: Captive formation, government reporting, accounting, claims reserves analysis, investment management.
Occasional services: Feasibility studies; manual claims processing; loss forecasting; underwriting and ratemaking; association captive management services, including specialized accounting services.
Staff: Three; two professionals.
Clients: 15 active captives managed at year-end 1996. Captive premium volume, $90.8 million. No minimum size client.
Compensation: Annual fee, hourly.
1996 gross revenues: 100% from fees charged for captive management.
Contact: John E. Smith, managing director.
Chandler Insurance Management Ltd.
Anderson Square, Fifth Floor,
P.O. Box 1854, Cayman Islands, B.W.I.; 345-949-8177;
fax: 345-949-8376
Founded: 1990.
Parent: Chandler Insurance Co. Ltd.
Offers rent-a-captive services.
Frequent services: Government reporting; accounting; association captive management services, including specialized accounting services.
Occasional services: Feasibility studies, captive formation, reinsurance brokered for captives, reinsurance brokered to captives, underwriting and ratemaking, investment management.
Staff: Three; one professional.
Clients: Seven active captives and two inactive captive managed at year-end 1996. Captive premium volume, $22.3 million. Capital and surplus managed, $75.4 million. Minimum size client, $500,000.
Officers: W. Brent Lagere, chairman; Benjamin T. Walkingstick, Steven R. Butler, directors.
Channel Islands
Insurance Consultants Ltd.
26 Cornet St., St. Peter Port, Guernsey GY1 1LF; 44-1481-710336;
fax: 44-1481-710696
Founded: 1982.
Frequent services: Government reporting, accounting, claims processing, online access to claims data, claims reserves analysis, underwriting and ratemaking, investment management, tax advice, loss control (London, Guernsey).
Occasional services: Feasibility studies, captive formation, actuarial studies, loss forecasting, reinsurance brokered for captives.
Staff: Six; three professionals.
Clients: 14 active captives and five inactive captives managed at year-end 1996. Captive premium volume, $75.0 million.
Subsidiaries: Guernsey Insurance Management Services Ltd.
Compensation: Annual fee, hourly.
1996 gross revenues: 100% from fees charged for captive management.
Officers: Michael Savage, managing director; Timothy Spafford, chairman; Mike Bubb, director.
Contact: Michael Savage.
CIGNA International
Insurance Managers Ltd.
P.O. Box HM 1181, Hamilton HM EX, Bermuda; 441-295-0169;
fax: 441-292-1930
Founded: 1978.
Parent: CIGNA Corp.
Frequent services: Government reporting, accounting, computerized claims processing, investment management, loss control (Philadelphia).
Occasional services: Feasibility studies, captive formation, online access to claims data, claims reserves analysis, loss forecasting.
Staff: Four; two professionals.
Clients: Four active captives managed at year-end 1996. Captive premium volume, $21.0 million. Capital and surplus managed, $80.0 million. No minimum size client.
Compensation: Annual fee.
1996 gross revenues: 45% from fees charged for captive management; 55% from other services.
Officers: John C. Boden, president; Heinz Schoenberger, vp/treasurer.
Commonwealth Risk Management Inc.
P.O. Box 834, Montpelier,
Vt. 05601-0834; 802-229-5000;
fax: 802-244-1687
Founded: 1987.
Frequent services: Feasibility studies, captive formation, government reporting, accounting, claims reserves analysis, reinsurance brokered for captives, reinsurance brokered to captives, investment management.
Occasional services: Claims processing, online access to claims data, actuarial studies, loss forecasting, underwriting and ratemaking, tax advice, legal advice.
Staff: Three; two professionals.
Compensation: Annual fee, commission, hourly: professional, $125; clerical, $35.
Officer: Peter D. Sanger, president.
Continental Risk Services Ltd.
Continental Building, 25 Church St., P.O. Box HM 824, Hamilton HM CX, Bermuda; 441-295-6015;
fax: 441-295-1702
Founded: 1980.
Parent: CNA Financial Corp.
Offers rent-a-captive services.
Frequent services: Captive formation; government reporting; accounting; investment management; managing underwriting pools/facilities; association captive management services, including specialized accounting services.
Occasional services: Feasibility studies, claims processing, claims reserves analysis, actuarial studies, loss forecasting, reinsurance brokered for captives, reinsurance brokered to captives, underwriting and ratemaking, loss control.
Staff: Four; three professionals.
Clients: Eight active captives managed at year-end 1996. Captive premium volume, $67.8 million. Capital and surplus managed, $546.0 million. No minimum size client.
Subsidiaries: Continental Risk Services (Barbados) Ltd.
Compensation: Annual fee, hourly.
1996 gross revenues: 72% from fees charged for captive management, 28% from other services.
Officers: Peter Conway, chairman; Hector Mendez, COO; Thomas R. McMahon, vp; Richard Spurling, secretary; Judy Taylor, assistant secretary.
Contact: Thomas R. McMahon.
Continental Risk
Services (Barbados) Ltd.
ICB Building, Upper Roebuck St., Bridgetown, Barbados; 246-427-3362; fax: 246-426-0426
Founded: 1986.
Parent: Continental Risk Services Ltd.
Offers rent-a-captive services.
Frequent services: Captive formation, government reporting, accounting, investment management.
Occasional services: Feasibility studies, claims processing, claims reserves analysis, actuarial studies, loss forecasting, reinsurance brokered for captives, reinsurance brokered to captives, underwriting and ratemaking, loss control (New York).
Staff: Three; two professionals.
Clients: Six active captives and six inactive captives managed at year-end 1996. Captive premium volume, $75.0 million. Capital and surplus managed, $60.0 million. No minimum size client.
Compensation: Annual fee, hourly.
1996 gross revenues: 100% from fees charged for captive management.
Officers: Peter Conway, chairman; Hector Mendez, senior vp/COO; Fiona Williams, president/general manager; Trevor Carmichael, secretary; Andrew Ferreira, assistant secretary.
Cranham Management Ltd.
P.O. Box HM 397, Hamilton HM BX, Bermuda; 441-295-8441;
fax: 441-292-1210
Founded: 1996.
Frequent services: Feasibility studies, government reporting, accounting, run-off management.
Occasional services: Captive formation.
Staff: Two professionals.
Clients: Four active captives and one inactive captive managed at year-end 1996. No minimum size client.
Compensation: Annual fee.
Officers: Stephen W. Pearce, president; Toni E. Tavares, vp.
Contact: Stephen W. Pearce.
Crusader International Management (Cayman) Ltd.
P.O. Box 2185 G, Crusader House, Mary St., George Town, Cayman Islands, B.W.I.; 345-949-1599;
fax: 345-949-0520
Founded: 1993.
Offers rent-a-captive services.
Services: Feasibility studies; captive formation; government reporting; accounting; online access to claims data; claims reserves analysis; reinsurance brokered for captives; underwriting and ratemaking; managing underwriting pools/facilities; association captive management services, including specialized accounting services.
Staff: Eight; three professionals.
Clients: 11 active captives and two inactive captives managed at year-end 1996. Captive premium volume, $64.0 million. Capital and surplus managed, $68.0 million. No minimum size client.
Compensation: Annual fee, $20,000 minimum; hourly: professional, $200; clerical, $70.
Officers: Ian Kilpatrick, president; J. Terry Burke, executive vp; Fiona Moseley, account administrator.