Global Captive Podcast

The Global Captive Podcast's latest Covid-19 special episode dicusses the how's and why's of capital extraction from the captive.

As the global economy take a steep downturn, many businesses are beginning to experience cash flow trouble and the captive, if executed correctly and in the right circumstances, can release capital on a short or long-term basis through various techniques.

Pete Kranz, Executive Managing Director and Captive Practice Leader at Friend of the Podcast Beecher Carlson, and David Provost, Deputy Commissioner of the Captive Insurance Division at the State of Vermont, outline what some of the options are to do this, and highlight the important regulatory considerations.

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Contact Richard: [email protected]

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In Episode 27 of the Global Captive Podcast, supported by legacy specialists R&Q, Richard is joined by guest co-host Farah Jaafar-Crossby, Chief Executive Officer, Labuan International Business and Financial Centre, Malaysia.

Farah discusses how the Labuan regulator has had to respond to the coronavirus pandemic, growth in the captive domicile in 2019 and the Asian captive market.

In the interview, Farah mentions the regulatory relief put in place by Labuan light of the pandemic. You can find more information here: https://www.labuanibfc.com/resource-centre/media/press-releases/labuan-ibfc-inc/regulatory-relief-for-labuan-ibfcs-entities-in-light-of-challenges-posed-by-covid-19

The captive owner interview is with Franck Baron, Group Deputy Director Risk Management & Insurance at International SOS, and Chairman of PARIMA, Asia's risk and insurance management association. Franck highlights how International SOS has had to respond to COVID-19 and how its captive has been utilised in a hardening market, as well as explaining why captives are still struggling to become mainstream in the region.

There is also a short highlight from the latest COVID-19 special episode of the Global Captive Podcast, featuring Willis Towers Watson's Mark Cook on how the pandemic is affecting international employee benefits programmes.

You can subscribe to the Global Captive Podcast on iTunes, Apple Podcasts, Spotify or any other podcast app.

Contact Richard: [email protected]

Visit the website: www.globalcaptivepodcast.com

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The Global Captive Podcast's latest Covid-19 content focuses on the impact on, and potential response of, international employee benefits programmes that include a captive.

Mark Cook (full biography below), Director at Willis Towers Watson, joins Richard to discuss the types of policies that are likely to be impacted by the global pandemic, the exclusions insureds need to be mindful of, the flexibility that captives can provide and the balance multinationals are having to strike between looking after their staff while managing exposure to the captive.

You can subscribe to the Global Captive Podcast on iTunes, Apple Podcasts, Spotify or any other podcast app.

Contact Richard: [email protected]

Visit the website: www.globalcaptivepodcast.com

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Mark Cook is a Director in Willis Towers Watson’s Global Services and Solutions group based in London and advises on a range of international employee benefits issues. He is an international benefits expert and has worked at Willis Towers Watson for over 20 years.

Mark leads Willis Towers Watson’s benefit financing group globally and assists a variety of clients from different sectors with the optimisation of employee benefits financing. This includes a wide range of self-insurance, insurance, multinational pooling and captive related assignments ranging from annual management/governance such as premium setting and claims/reserving analysis to the set-up of successful and sustainable benefit captives, global underwriting models or multinational pooling arrangements.

In our third GCP Short, Richard gets into parametric insurance and their applicability to captive insurers with Friend of the Podcast for 2020, AXA XL.

Owen Williams, Global Programme and Captive Regional Director for UK & Nordics at AXA XL, and Isa Ennadifi, Senior Underwriter at AXA Climate, discuss parametric case studies, how captives can participate and the different structures that are possible. Full biographies and contact information is below.

For more information on AXA Climate and AXA XL's parametric services, visit: https://www.climate.axa/

Isa is a Senior Underwriter in London for AXA Climate, developing parametric solutions mitigating climate risks for private and public sector. Prior, she started her career at SCOR in 2011, and then joined AXA XL over three years ago. She has a structuring and underwriting background in the Alternative Risk transfer market with international exposure. She is also a qualified member of both the French (IA) and UK (IFoA) institute of Actuaries. Contact Isa: [email protected]

Owen serves as Global Program and Captive Regional Director UK & Nordics for AXA XL having joined the company in 2017 as Manager of the Captive Centre of Excellence as part of the business’s wider investment in serving clients who utilize Captives.

He has over 20 years of experience within the large corporate insurance industry in a mixture of underwriting, relationship management, alternative risk transfer and captives.

Before joining AXA XL, Owen spent ten years with Zurich Insurance, most recently leading the UK Captives Services team, other roles at Zurich Insurance include client management and financial lines underwriting. Prior to Zurich Insurance Owen held underwriting positions at RSA for nine years. Contact Owen: [email protected]

You can subscribe to the Global Captive Podcast on iTunes, Apple Podcasts, Spotify or any other podcast app.

Contact Richard: [email protected]

Visit the website: www.globalcaptivepodcast.com

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Twitter & Instagram: @captivepodcast

In the latest instalment of the Global Captive Podcast's Covid-19 Captive Series, Richard discusses the implications for captive boards as global travel is restricted and what that might mean with regards to economic substance and tax requirements.

Sandy Bigglestone, Director of Captive Insurance at the State of Vermont’s Department of Financial Regulation, Colin Robinson, the 2020 Chair of the Insurance Managers Association of Cayman (IMAC), and Kate Storey, a Guernsey-based partner at global law firm Walkers, all provide insight on their respective domiciles' approach.

Jenny Coletta, a London-based Tax Partner at EY, then addresses what captive boards and the parent company will have to consider so they do not fall foul of scrutiny from their local tax authority.

You can subscribe to the Global Captive Podcast on iTunes, Apple Podcasts, Spotify or any other podcast app.

Contact Richard: [email protected]

Visit the website: www.globalcaptivepodcast.com

Follow us on LinkedIn: www.linkedin.com/company/global-captive-podcast/

Twitter & Instagram: @captivepodcast

In Episode 26 of the Global Captive Podcast, supported by legacy specialists R&Q, Richard is joined by guest co-host Brady Young, President & CEO of Strategic Risk Solutions, to discuss the Covid-19 impact on captive insurance, broker consolidation and the SRS growth plans in Europe.

The captive owner interview is with Shruti Vyas, Insurance Specialist and Captive Manager at SES Satellites, while there is also a clip from our first Covid-19 special episode featuring Joseph Holahan, of Morris, Manning & Martin, LLP, and Peter Halprin, Partner at Pasich LLP.

You can subscribe to the Global Captive Podcast on iTunes, Apple Podcasts, Spotify or any other podcast app.

Contact Richard: [email protected]

Visit the website: www.globalcaptivepodcast.com

Follow us on LinkedIn: www.linkedin.com/company/global-captive-podcast/

Twitter & Instagram: @captivepodcast

In our latest special episode on the coronavirus pandemic implications for the captive insurance market, Richard is joined by three expert speakers from London & Capital to look at the impact on investment management portfolios.

Sanjay Joshi, Head of Fixed Income, Roger Jones, Head of Equities, and Chris Dalziel, Executive Director at London & Capital (full biographies below), outline what asset classes a captive insurer may be exposed to in their portfolio, walk us through the state of the markets and what steps captive insurers need to take next as they consider their investment positions.

For more information on London & Capital, visit their website: https://www.londonandcapital.com

Or email Chris Dalziel: [email protected]

You can subscribe to the Global Captive Podcast on iTunes, Apple Podcasts, Spotify or any other podcast app.

Contact Richard: [email protected]

Visit the website: www.globalcaptivepodcast.com

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The speakers that feature in this episode are:

Chris Dalziel is an Executive Director within the Institutional division and joined the firm in 2012 from a regulatory background. Chris acts as a relationship manager for existing Institutional Clients and is responsible for the development of the Cell Portfolio business in the US and COMPASS initiatives in Europe.

He regularly travels to the US, Bermuda and Europe attending Client Board meetings and managing potential Institutional relationships. Chris graduated from the University of York with degrees in Economics and Law, he also holds the DipCII designation and has passed Level 1 of the CFA Program.

Sanjay Joshi heads the fixed income team, overseeing portfolio construction, asset allocation decisions and London & Capital's range of Global Bond Funds. Sanjay has nearly 30 years’ experience in fixed income portfolio management and research.

As Chief Economist/Head of FI Research at Daiwa, Sanjay was responsible for devising the overall fixed-income strategy. He travelled extensively to meet Daiwa’s global client base and also spoke at various conferences including the World Bank meeting in Hong Kong.

At Aletca, Sanjay reported directly to the CIO and co-managed the derivatives overlay across all assets. He was in charge of the credit portfolio focussing in particular on the Euro and US dollar components. At F&C, Sanjay was lead manager for a global fixed income Hedge Fund.

Roger Jones is responsible for the portfolio construction and stock selections for London and Capital Equity Solutions and Equity Funds.

Roger has 15 years equity fund management experience co-managing pan-European equity portfolios and allocating assets on both a European and global basis. In addition Roger has experience across a wide-range of areas including pensions, insurance, retail, income and ethical funds. As well as analytical experience in sectors from utilities, chemicals and engineering to aerospace, leisure and transport.

In the first of GCP's Covid-19 Captive Series, Richard is joined by two US-based lawyers to discuss the questions already rising regarding relevant coverage in the face of the global pandemic, the claims activity which is beginning and the potential disputes down the line.

Joseph Holahan, Of Counsel at Morris, Manning & Martin in Washington DC, and Peter Halprin, Partner at Pasich LLP based in New York, also consider the role of captives and how they must tread carefully regarding the treatment of claims.

This episode is the first in a series of upcoming focuses on Covid-19 and its impact on captive insurers, their owners and the broader captive market. Further episodes on governance and board meetings, captive investment portfolios and captive employee benefit programmes exposures to the coronavirus will follow in the coming days.

You can subscribe to the Global Captive Podcast on iTunes, Apple Podcasts, Spotify or any other podcast app.

Contact Richard: [email protected]

Visit the website: www.globalcaptivepodcast.com

Follow us on LinkedIn: www.linkedin.com/company/global-captive-podcast/

Twitter & Instagram: @captivepodcast

The speakers that feature in this episode are:

Joseph Holahan is an Attorney at Morris, Manning & Martin, LLP and a member of the firm’s Insurance and Reinsurance Group. Based in Washington, D.C., Joe has extensive experience in the development and maintenance of captive insurance programs, including all aspects of formation, licensing, regulation and governance.

Joe is a board member and currently President of the Captive Insurance Council of the District of Columbia. He also is a board member and instructor for the International Center for Captive Insurance Education and a past Chair of the Vermont Captive Insurance Association Legislative Committee.

Morris, Manning & Martin, LLP is a full-service law firm with over 190 attorneys. The firm is well known for its insurance regulatory, corporate and transactional practice.

Peter A. Halprin is a partner in Pasich LLP’s New York office. Peter represents commercial policyholders in complex insurance coverage matters with a focus on recovery strategies in relation to captive insurance, cyber crime, natural disasters, professional services and technology disputes, and regulatory investigations. Over the course of his career, Peter has arbitrated, litigated, and mediated claims involving a broad range of insurance policies and recovered hundreds of millions of dollars in insurance proceeds for policyholders.

The latest GCP Short is the first podcast we have recorded entirely remotely as we all come to terms with the Covid-19 pandemic and its impact on travel and our collective need to work from home.

In this episode we discuss Diversifying your captive with employee benefits and I am joined by three expert speakers (full bios found below):

Matthias Helmbold, Head of Technical & Services, MAXIS Global Benefits Network.

Barry Perkins, Placement Leader, Global Benefits, Mercer Marsh Benefits

Matthew Latham, Head of Global Programmes and Captives, AXA XL

MAXIS Global Benefits Network, a Friend of the Podcast for 2020, works in partnership with multinational clients to deliver the solutions they need to help them care for their people while meeting the strategic goals of their business.

The global network built on local expertise, with nearly 140 local member insurers in over 120 markets worldwide, MAXIS GBN was founded in 2016, and is backed to this day, by two of the world’s largest and most trusted insurers: MetLife and AXA.

For more information, please visit www.maxis-gbn.com

You can subscribe to the Global Captive Podcast on iTunes, Apple Podcasts, Spotify or any other podcast app.

Contact Richard: [email protected]

Visit the website: www.globalcaptivepodcast.com

Follow us on LinkedIn: www.linkedin.com/company/global-captive-podcast/

Twitter & Instagram: @captivepodcast

Full biographies:

Matthias Helmbold leads the technical and services division of MAXIS GBN which includes reinsurance, underwriting and client reporting functions. Matthias has more than 15 years of experience in employee benefits. Prior to joining the MAXIS Global Benefits Network, Matthias has worked both in consulting roles (as pension actuary and global benefits consult with a specialisation in M&A) as well as in corporate roles (as global benefits manager for Syngenta and international benefits director for the Coca-Cola Company).

Barry Perkins is the Global Benefits Placement Leader for MMB, based in London. MMB provides solutions to help global organizations to optimize and manage their employee benefit programs. In his role, Barry is responsible for creating new placement strategies and solutions global clients and improving the way that MMB interacts with insurance carriers.

Matthew Latham is Head of Global Programmes and Captives at AXA XL. In this role he is responsible for growing AXA XL’s global programmes and captive fronting business and for ensuring that clients get a high quality service. His remit is global and involves working with underwriters across all classes of risk. Before joining XL Catlin in 2014, now part of AXA XL, Matthew spent nine years at AIG. His roles there included leading AIG’s alternative risk financing team. Prior to AIG, he held roles at ACE and Willis and has been in the insurance industry for over 25 years.

In episode 25 of the Global Captive Podcast, supported by legacy specialists R&Q, Richard welcomes Charles Winter, Head of Risk Finance & COO at Aon Global Risk Consulting in the United Kingdom.

The captive owner interview is with Ange Chitate, COO and Interim CEO of African Risk Capacity (ARC) Insurance Company Limited, and Malvern Chirume, Chief Underwriting Officer at ARC Insurance Company Limited.

The third interview is with Erin Hackett, Senior Audit Manager at Crowe, who talks Richard through the role of third-party auditors with captives and their importance as regulatory scrutiny of captives is increased.

You can subscribe to the Global Captive Podcast on iTunes, Apple Podcasts, Spotify or any other podcast app.

Contact Richard: [email protected]

Visit the website: www.globalcaptivepodcast.com

Follow us on LinkedIn: www.linkedin.com/company/global-captive-podcast/

Twitter & Instagram: @captivepodcast