Captive Insurance as part of an Enterprise Risk Management Program 


A captive insurance company can be a valuable enterprise risk management (ERM) tool if structured properly and focused on risk management.

San Juan aerial view with blue sky and sea. Puerto Rico..jpg
San Juan aerial view with blue sky and sea. Puerto Rico..jpg

What is a Captive?

In the most simplistic terms, a captive insurance company is an insurance subsidiary of a noninsurance entity or parent and is owned by the insured.

 Puerto Rico fort castle caribbean

Purpose of a Captive 

 The purpose of an insurance company and, therefore, a captive, is to pay losses (your own losses) and to afford you (the owner) more control over your risk and any losses that do occur. Captives are an alternative risk transfer mechanism used to finance risk. 

 Puerto Rico fort castle caribbean

How IICG can help

IICG has extensive experience in the setup and management of captive insurance structures in Puerto Rico for both local and international clients. 

Screen Shot 2022-03-10 at 12.09.14 PM.png

Stand Alone Captive

Puerto Rico's Act 399 allows for captive insurance companies to form as Class 1 international insurers subscribing property and casualty risks. IICG has extensive experience submitting international insurers applications, working with domicile regulator to obtain a Certificate of Authority and providing management services on an ongoing basis. 


Protected Cell Captive 

In some cases, clients will benefit from entering into a protected cell structure under an existing international insurer in Puerto Rico. IICG provides its clients with licensed segregated asset plan structures where participants can initiate a turn-key captive insurance operation utilizing the existing infrastructure of a licensed international insurer.