Hanover Stone Partners launches captive insurer advisory services

Hanover Stone Partners L.L.C. has launched a practice offering advisory and other services to captives and their parent organizations.

Called Hanover CaptiveGuard, the unit offers strategic and financial reviews for a captives’ underwriting portfolios, the risk management firm announced in a statement Wednesday.

Other resources include evaluating captive management companies’ performance, actuarial reviews, regulatory compliance and facultative and treaty reinsurance agreement reviews.

“As organizations around the world look to expand the utilization of their captives — including writing third-party business, funding employee benefit programs and through intracompany investment activities — their captive operations have become increasingly complex and their risk profiles have evolved,” said John J. Kelly, founder and managing partner of Hanover Stone Partners, in a statement. “As a result, they require more robust oversight and governance, as well as continual objective and independent operational review.”

For more information, contact Mr. Kelly at 646-216-2181 or John.Kelly@hanoverstonepartners.com.