With captive insurance companies playing a major role in the business strategy of many enterprises today, having an insurance partner that has an experienced and knowledgeable team of captive experts can make a significant difference.
At If, we take pride on our ability to provide our clients with the advice and services that are necessary to meet the future challenges facing the captive industry.
The leading Nordic provider of services to captives
A captive company rarely employs all the needed functions to be fully self-managed. Most captives are reliant upon external service providers for several functions: local fronting insurance, claims handling, risk management services are typical functions where If offers solutions. As one of the major service providers to captive companies in the Nordic area, If focus on delivering services to captives as quickly and accurately as possible.
At If, we are willing to discuss also other aspects related to captive insurance companies and the service needs.
If is the leading Nordic provider of insurance services to captives. We handle approx. 50 captive solutions in the Nordic Region and have over 30 years of experience. We deliver our tailor made services promptly and reliably. We do this by building a team around the captive's specific requirements consisting of the right competences and industry insight.
Support to captive clients
To ensure optimal and timely support for all captive clients and to facilitate improved knowledge management, we have established a Captive Competence Centre. From here our team of specialists maintain an overview of the latest trends, regulatory issues and developments, and ensure that we meet our clients' needs regarding services to their captive.
Policy issuing and fronting for captives
If's core service to captive clients
One of If's core services provided to captive clients is fronting insurance solutions.
If is the largest Industrial insurer in the Nordic region and is a full-service provider of insurance solutions.
If has an international network that covers over 150 countries. We handle international policies and claims on a daily basis.
An If solution for a captive ensures compliance, prompt policy issuance and cash flow in accordance with agreed terms and conditions.
Reinsurance solutions for captives
Roles of reinsurer and/or Reinsured
A captive company often acts as both a Reinsurer and as a Reinsured depending on the set-up.
If can support the Captive as a Direct Insurer, Reinsurer and/or Retrocessionaire. If can share the risk either on a proportional or non-proportional basis.
Contact If to find out more about the Reinsurance solutions for Captives.
Service compliant to local regulatory and legal requirements
Choose a compliant solution
We advise you in choosing a compliant solution that secures a compliant risk transfer to the Captive.
If can arrange local coverage according to regulations and contract certainty is one of If's main principles.
In line with increased reporting requirements If emphasises accuracy in accounting.
Cash flow administration regarding fronted premiums and claims
Largest fronting insurer for captive clients
If is the largest fronting insurer for captive clients in the Nordic Region.
If has a leading edge insurance system, which has the ability to handle both direct and reinsured business. This provides If with the opportunity to develop high quality reports and secure accurate figures.
We can report and administer cash flow to Captives on a monthly, quarterly, half-yearly or annual basis, as requested.
Captive claims handling and reporting
Claim reporting for captives
If handles more than 1,4 million claims a year, of which 10.000 are handled outside the Nordic Region. If has an international network covering more than 150 countries.
If constantly monitors the service quality delivered by our international partners and we have well functioning routines for handling transaction heavy accounts.
If handles claim reporting for its captive clients, where we guarantee prompt, compliant and high market standard reporting of ceded claims statistics to captive clients.
We at If focus on pro-actively processing all claims as quickly and efficiently as possible.
Risk management services to captives
Largest risk management unit in the Nordic insurance market
If has the largest risk management unit in the Nordic insurance market. Our internationally trained professionals work in close co-operation with your captive.
If can support a captive owner who decides to discontinue their captive's operations by providing guidance towards an effortless way of discontinuing the captive's operations. This may be via a commutation process of the captive agreements between the captive company and If, either as the only insurer or as one of several fronting and servicing insurers to the captive. It may also be through a novation of the runoff portfolio to If P&C or another party.
Whether the decision is commutation or novation, If can provide legal support and assist in setting up the necessary agreements connected to a commutation or novation process. If may also, subject to an approved due diligence process, consider purchasing the run-off portfolio.