Rent A Captive
Considering a Rent-A-Captive?
A Rent-A-captive is sometimes referred to as a segregated or protected cell, which offers organizations a unique opportunity to take advantage of the benefits of a captive insurance company, with efficient set up, and minimal costs, time, and capital investment.
A rent-a-captive structure allows an organization to ‘rent’ a segregated (protected) cell from an Atlantic Security Limited (ASL) owned facility. With ASL overseeing all administration, financial statement preparation, compliance with local regulations, and market support for insurance/reinsurance these facilities are a safe and practical alternative risk vehicle for any organizations.
Only one company can claim it created the rent-a-captive market, and that distinction belongs to ASL, having established the industry’s first rent-a-captive (RAC) in 1974. Recognizing the value in the rent-a-captive market ASL trademarked the ‘rent-a-captive’ name and still owns that trademark today.
Over the past 45 years, ASL has consistently maintained leadership in the RAC market with well over $100 Million in premium under its management.
As a recognized and seasoned group of experts, the ASL organization has been instrumental in helping to define, mature, and drive the alternative risk services market.
ASL is a pioneer and a leader in the RAC market. Our long history and sustained success in the RAC market is in large part due to our corporate commitment to stay true to our founding principles: remaining a privately held, bureaucracy-free, hands-on organization focused on applying our expert resources and decades of experience to meet each clients’ unique RAC needs – now and in the future.
Through the RAC relationship, ASL acts as a liaison and advocate with appropriate service providers, including investment advisors, legal professionals, auditors, loss adjusters, fronting companies, reinsurers, and the Bermuda regulatory authorities.
ASL’s management team has an average of over 30 years of tenure and knowledge per individual with a total of more than 150 years as a group. This unmatched wealth of experience translates to peace of mind for clients in a service industry where consistent, quality and proven approaches to business support are highly valued.
Today, ASL owns and operates 5 RAC facilities. Three of our facilities are among the world’s top RACs, including the industry’s largest non-life RAC.
All ASL facilities are fully enacted by parliament to provide segregated cell structures to ensure the protection of individual client assets and reserves. ASL clients rest assured they will not be affected by any liabilities or insolvency of other participants sharing the same RAC facility.
Because of the efficiency of the operation and the experience of the team, ASL is often able to set up a RAC very quickly.
ASL’s client base is currently over 120 companies. Our clients represent a wide range of industries including Fortune 500 organizations, as well as private companies with assets in the billions.
Rent-A-Captive services available
- Feasibility assessment;
- Establishment of a client-specific segregated cell;
- Management of insurance/reinsurance policies and certificates of insurance;
- Collection of premiums and reinsurance recoveries;
- Review, validation, and payment of losses;
- Creation of client-specific financial statements
- Completion of statutory requirements as required by Bermuda government; and
- RAC efficacy reviews
How RACs Work:
- Direct Programs (Uni International)
- Fronted Programs (Allied Trucking)