Benefits
Our long experience in the captive market has shown us that organisations with a large portfolio of risk and a good loss experience are likely to enjoy significant financial, risk management and coverage benefits from captive insurance.At Kane, we feel that such companies can gain a better control over their insurance spend; turning what was once a cost centre into a profit centre. Insurance overheads can be reduced by as much as 50% as parent companies avoid the higher costs associated with commercial insurance buying.
Premiums are based on the parent’s own loss experience, rather than the performance of the industry as a whole. Captives are also able to directly access the reinsurance market, giving them access to wholesale prices.
Based on our work with many clients, we believe you will also benefit from an improved loss experience over time. This is one of the common by-products of taking control of insurance and risk management. By maintaining greater control over risk strategies, claims should fall and premiums should be further reduced.
Where there are claims, these are more easily handled within a captive insurance structure. There is less red tape to contend with and claims are dealt with more quickly and efficiently than in the commercial insurance sector.
Our captive clients also benefit from a great deal more flexibility than they have enjoyed in the commercial insurance sector. Captives provide a more bespoke insurance coverage, tailoring their products to meet the parent’s unique risk management needs. They can also provide a broader and more stable coverage across a wider range of classes than is typically available in general insurance.
Captives also offer many owner companies the opportunity to generate additional revenue, by expanding coverage to include third parties. There are also a number of tax advantages to be gained through a captive insurance structure, which our experts can guide you through.
Our clients gain the additional advantage of working with the Kane team. Our talented family has unparalleled experience setting up and managing captives around the world. Let us ease the transition, by working in partnership with you to meet your unique risk management needs.
Given the extensive range of benefits afforded by these self-retention vehicles, their appeal extends to virtually all industry sectors in the MENA region, including:
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Energy industry
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Transport
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Tourism and travel
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Property/construction (including infrastructure such as ports, airports and public transport)
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Healthcare/medical
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Financial services
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Utilities
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Law firms
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Hi-tech and value manufacturing industries
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Service industry
- Technology industry