As a premier captive manager, we deliver excellence and take a proactive approach to change the landscape of captive insurance. We’re proud to say Global Captive Management Ltd. (GCM) has been in the business since 1982. Our independent spirit affords our clients a clearer, insightful neutrality in service providers, making for better customized insurance captives.
Our extensive knowledge, partnerships (including Innovative Captive Strategies for U.S. domestic captives), flexible approach, and expertise in tax consequences related to the insurance captive industry help us provide objective and independent guidance for our clients. We share the same goals as you, which means we can build a brighter future together.
Forming & Licensing Your Insurance Captive
With our in-house experts, we will guide you through the entire process of setting up a captive. This includes helping you document the business purpose of the captive, explore the captive’s feasibility, and understand tax consequences and license applications in accordance with the appropriate insurance law.
We work efficiently with your existing insurance agent, audit, tax, legal, and actuarial advisors, or we would gladly recommend best-in-class providers ideal for your unique program.
When it comes to your finances, we’ve got you covered! Not only do we coordinate the annual audit, we maintain all the books and records and help prepare important reports, such as:
- Tailored management financials
- Annual audited financial statements
- Analytical reports
- Annual budgets with detailed variance analysis
We focus on providing all internal financial reporting to best suit the needs of your current financial reporting requirements — whether you are a Fortune 500 company or a group of physicians running your own small practice.
We know cash balances are essential to businesses and can frankly be a headache, which is why when you work with us, we will:
- Monitor your investments (managed by your preferred investment manager) to ensure you are following your approved Investment policies
- Manage cash balances and invest excess funds as directed
- Execute payments in line with your bank mandates
Regulations & General Office Management
Leave the details to us. We will coordinate your shareholders, directors, and committees to make sure your captive insurance company is meeting your goals and location regulations. This includes preparing and submitting business plan updates for regulatory approval amongst other regulatory requirements, such as:
- Anti-money laundering
- Economic substance
- Corporate by-laws
- Data Privacy
- Registered Office services
Claims management can be confusing. We can help by reviewing and analysing claims to ensure compliance and claim payments with policy limits. We also assist with credentialing and claims history requests.
Another element to this service is the issuance of executed insurance policies. We help with the preparation and issuance of certificates of insurance where required.
On top of this, our team will coordinate with appointed actuaries and third-party administrators when necessary.