USA Risk Group taps into Barbados with majority stake in MIMS International

MONTPELIER, Vt.—Independent alternative risk market service provider USA Risk Group has expanded into Barbados, purchasing a majority ownership in MIMS International (Barbados) Ltd.

Martin Hole, principal officer of MIMS, will remain as head of the Barbados office, which will be renamed USA Risk Group (Barbados) Ltd.

MIMS has been involved in captive management since 1986 and services 22 captives under management with a staff of five. It was the first captive manager licensed in Barbados.

In addition to its new presence in Barbados and its offices in Montpelier, Vt., USA Risk Group provides captive management, program administration, reinsurance and other related services in all major North American domiciles, Bermuda, the Cayman Islands and the British Virgin Islands.