Captive Resources, LLC (CRI), a leading consultant to member-owned group captives, announced today that its affiliated captives have reached combined premium volume exceeding $1 billion. The company has seen very robust growth, with more than $220 million of new premium added to its captives in the last twenty-four months.
"In the very challenging economic climate of the past several years, Captive Resources' group captive model has become increasingly popular as companies sought to tightly control expenses - a trend we see continuing," said George Rusu, co-founder, Chairman and CEO of Captive Resources. ''The growth in our core business has enabled our continued expansion into new areas to meet the varied needs of our clients, including 831 (b) captives and health care stop loss insurance, and will support additional strategic initiatives in the future," added Rusu.
Rusu noted that the company's strong, broad-based organic growth is partially attributable to the improving economy as existing member companies began to hire again and expand operations, and also to more favorable credit markets, but said that the majority has come from the addition of new captive members.
Captive Resources, LLC is an independent consulting company specializing in creating and overseeing the operations of member-owned group captives. It has no ownership interest in the captives it advises, which today number twenty-seven, with over 2,500 member companies.