As a pioneer of group captives, Captive Resources is increasingly reaping the rewards as growth in this sector continues to accelerate — something that benefits the Cayman Islands as well, says Nick Hentges of Captive Resources.
Excerpt: As he prepares to take the role of co-chief executive officer in January 2019, Nick Hentges, current president of Captive Resources, is in a bullish mood about the potential growth of the company in a landscape where group captives are becoming a risk transfer tool of choice for middle-market companies in the US.
Hentges predicts that the growth of the market will accelerate further — and as a pioneer and market leader in this space, Captive Resources is set to benefit. The company currently consults to 35 captives, responsible for nearly $2.4 billion of premiums, the large majority of which is domiciled in the Cayman Islands. That is more than 14 percent of all captive insurance premiums on Cayman, managed through sister company Kensington Management Group.
Hentges adds that the company remains committed to the Cayman Islands.
“In the 30-plus years we have been operating there, a lot has changed, but we are proud that Kensington is one of the largest private captive insurance managers there and we feel we have made a very positive impact to the business environment and the economy of Cayman in that time. It is a great place to do business,” he says.
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