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P.O. Box HM 1760, Hamilton HM HX, Bermuda; 441-295-3688;
Parent: International Advisory Services Ltd.
Subcontracts for captive management services with International Advisory Services Ltd.
Hartford Holdings Ltd. (Fencourt Re)
Crawford House, 50 Cedar Ave., Hamilton, Bermuda; 441-295-5243; fax: 441-295-4460
Parent: ITT Hartford Group Inc.
Offers rent-a-captive services.
Frequent services: Captive formation, government reporting, accounting, computerized claims processing, investment management, managing underwriting pools/facilities.
Occasional services: Manual claims processing; online access to claims data; claims reserves analysis; actuarial studies; loss forecasting; underwriting and ratemaking; loss control (Hartford, Conn.); association captive management services, including specialized accounting services and onshore services.
Staff: 10; four professionals.
Compensation: Annual fee, $25,000 minimum.
Officers: C. Robert Burns Jr., president; Stewart A. McCrae, controller; Thomas S. Johnston, vp; Jean Sennett, treasurer/chief information officer; Loretta D. Weir, assistant vp.
Contact: C. Robert Burns Jr., 860-547-2457.
Insurance Management Inc./USA Risk Group
1164 Bishop St., Suite 1411, Honolulu, Hawaii 96813; 808-538-7766 or 888-872-5084;
Frequent services: Feasibility studies; captive formation; government reporting; accounting; claims reserves analysis; reinsurance brokered for captives; underwriting and ratemaking; association captive management services, including specialized accounting services and onshore services.
Occasional services: Claims processing, online access to claims data, reinsurance brokered to captives, investment management, tax advice.
Staff: Four; two professionals.
Clients: 10 active captives and one inactive captive managed at year-end 1996. Captive premium volume, $17.6 million. Capital and surplus managed, $38.3 million. No minimum size client.
Compensation: Annual fee; commission; hourly: professional, $100 to $125; clerical, $50 to $80.
1996 gross revenues: 100% from fees charged for captive management.
Officers: Sherman S. Hee, president; Gary H. Osborne, Reid Richards, vps.
Contact: Reid Richards.