Captive Manager
Reiss created the first captive management company, International Risk Management Limited (IRML), in Bermuda in 1962 to provide the administration of his client's captives (this is now part of the Aon Corporation). Most captive management is usually outsourced to a captive manager located in the jurisdiction that holds the primary license for the captive. The two largest captive insurance company managers in the world are units of Aon Corporation and Marsh & McLennan Companies which serve companies of all sizes.
While a Fortune 1000 company may have in-house staff to handle each of the many disciplines needed for captive planning, middle market companies generally seek out a turnkey provider for alternative risk planning services. Turnkey providers include Capstone Associated Services, Ltd., Risk Management Advisors, Incand Artex Risk Solutions, Inc..
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Famous quotes containing the words captive and/or manager:
“There a captive sat in chains
Crooning ditties treasured well
From his Afric’s torrid plains.
Sole estate his sire bequeathed,—
Hapless sire to hapless son,—
Was the wailing song he breathed,
And his chain when life was done.”
—Ralph Waldo Emerson (1803–1882)
“Nothing could his enemies do but it rebounded to his infinite advantage,—that is, to the advantage of his cause.... No theatrical manager could have arranged things so wisely to give effect to his behavior and words. And who, think you, was the manager? Who placed the slave-woman and her child, whom he stooped to kiss for a symbol, between his prison and the gallows?”
—Henry David Thoreau (1817–1862)