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:
“My Vanquisher, spoild of his vanted spoile;
Death his deaths wound shall then receive, & stoop
*nglorious, of his mortall sting disarm’d.
I through the ample Air in Triumph high
Shall lead Hell Captive maugre Hell, and show
The powers of darkness bound. Thou at the sight
Pleas’d, out of Heaven shalt look down and smile,”
—John Milton (1608–1674)
“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)