Aruba captive insurance company is a separate legally entity, established and is a licensed insurance company in its chosen domicile. A captive’s main business purpose is to insure the risks of its owners or companies affiliated with its owners. It is an alternative form of risk management that is becoming a more practical and popular means. Captives can be formed by any type of business, such as financial institutions, manufacturers, construction companies, and automobile dealerships.
The captive insurance industry is fast-growing, and yet many business owners are not familiar with the many important benefits of captive insurance. For many insurance in the traditional market may be appropriate, for others, formal self-insurance through the creation of a captive insurance company may be more effective to meet the company’s strategic goals.
Types of Aruba Captives Insurance
There are several types of Captives. Each type has a different solvency requirement.
- Pure Captive: Solvency requirements minimum USD 165.000
- Associative captive: Solvency requirements minimum USD 275.000
- Rent-a-captive: Solvency requirements minimum USD 550.000
- Other captives: Solvency requirements determined by the CBA, between est. USD 165.000 and USD 550.000.
Distinctive Advantages of Aruba Captive Insurace
- Reduced insurance costs
- Tax advantage
- Balance sheet protection
- Direct access to reinsurance
- Gain better coverage for your company
- Profit benefits
- Increased control insurance program and risk management
- Profits form low claims experience retained
- Enhanced loss prevention and claims management
- Estate planning flexibility
- Improved negotiating position insurance position
- We will advise you on the optimal legal structure for your requirements, size, expectations and circumstances. We have extensive knowledge of a wide range of legal structures in all major jurisdictions.
- Valsen will assist in preparation of winning business plans based on our superior understanding of regulator expectations and requirements
- We are very hands on in the post filing period checking with re regulator and service providers and updating you regularly. Any queries raised by the regulators and service providers during processing will be quickly synthesized by us and we shall craft the right responses to move the process forward fast.
- We can provide you with fit and proper directors in case you need. We have a wide network of qualified and experienced lawyers, chartered accountants, chartered financial analysts, wealth managers, FX experts, Investment advisors etc. of international pedigree.
- We have a full in-house compliance support for all compliance requirements with the regulator and service providers
- Through our extensive network, we provide sign up services with major service providers including but not limited to; Liquidity providers, technology providers, custodians, prime brokers, legal advisors, auditors, payment gateway providers among others.