In today's international business environment, it can be difficult for an organisation to identify all the risks facing its complex business operations. Assessing and subsequently mitigating those risks can be an even greater challenge.
Some businesses take the route of creating a captive insurance company, which is set up by its owners primarily to insure against its own specific risks. Organisations that have taken a considered, strategic approach to captive insurance management have found this strategy to produce significant rewards. Captives are the most recognised, established and structured form of risk retention worldwide.
Benefits of Captive Insurance
Aon's Captive and Insurance Management services
Aon takes its reputation as a top quality captive manager very seriously. In an industry where understanding local practice and protocol is as important as good management, and where corporate governance and regulation is constantly shifting, our clients benefit from:
Our Australasia practice manages numerous Australian and overseas-owned captives, and provides the administrative services to a large-scaled and complex Lenders Mortgage Insurer. Our experienced management team delivers integrated services that meet individual business needs.
What is a captive?
A captive is a bona fide insurance or reinsurance company owned by a non-insurance company parent and which insures or reinsures the risks of its parent and/or affiliated companies. It is similar in principle to a conventional insurance company and usually formed in a specialised regulatory environment ('domicile'). Globally, Aon's Captive & Insurance Management team manages approximately 1,100 insurance entities worldwide, including captives, protected and incorporated cell facilities, special purpose vehicles, and specialist insurance and reinsurance companies.
To find out if captive insurance is right for your organisation, contact us today.