A wholly owned or controlled subsidiary company established by a non-insurance parent for participation in the insurance risks of the parent and its other affiliates or associates.
An insurance company, formed and controlled by a separate company, whose purpose is to provide insurance to the controlling company. Companies which form captive insurance companies include all types of companies which extend credit to customers, including banks and retailers. See also agent-owned reinsurance company (AORC).----------[ Back
a bona-fide insurance or reinsurance company owned by a non-insurance company and which insures or reinsures the risks of its parents or affiliated companies
a closely held insurance company whose business is primarily supplied by and controlled by its owners
a company formed to insure and reinsure the risk of its parent company
a company whose charter permits it to offer insurance to its parent or sister subsidiaries in return for premiums
an in-house service company, in which established to insure the risks of its parent company
an insurance company that has been set up to provide coverage at a lower cost than available by going through the general insurance market
an insurance company that is owned and controlled by its insureds
an insurance company with a twist
an insurance entity which is wholly-owned by another organization
a private insurance company that has been established to insure some, but not all, of the risks of a single-parent company or a group of related businesses, association members, or an industry group
a risk management and financing strategy that offers an alternative to conventional insurance and also the opportunity to dovetail into an existing risk-financing (insurance) programme
a wholly-owned insurance subsidiary of a non-insurance parent, which is used to self-insure the risks of the parent and associated companies
a wholly owned or controlled subsidiary company formed by a non-insurance parent (or association of companies or individuals) for the purpose of participating in the risks of the parent enterprise or its group (subsidiary or associate)
Subsidiary of one or more parent or member organizations formed for the purpose of insuring the exposures of the parent or member organization(s).
A company owned solely or in large part by one or more non- insurance entities for the primary purpose of providing insurance coverage to the owner or owners. The company's stock is controlled by one interest or a group of related interests so as to provide coverage for their business operations. A captive insurance company may be a nonadmitted, nonresident, or foreign insurer. Sometimes it may provide reinsurance to a self-insured or a domestic company.
Any pure captive insurance company, association captive insurance company, or industrial insured captive insurance company formed or licensed under the provisions of this chapter. A company which is wholly-owned by another organization (generally non-insurance), the main purpose of which is to insure the risks of the parent organization.
A company which is wholly owned by another organization (generally non-insurance), the main purpose of which is to insure the risks of the parent organization. A pure captive is owned by a single parent, while an association captive is owned by a group of companies usually in the same line of business.
An insurance company especially established for its own use by a large corporation subject to widespread risk. Usually the parent company pays normal premium rates to the house insurer and sometimes obtains tax relief on its premiums. The parent builds a reserve which can be invested on a tax-free basis. A captive can provide coverage against risks not covered by common insurance companies. Because income from the insurance and reinsurance of United States, a captive insurance company is usually assigned to insure only foreign risks.
Such a company is a specialized subsidiary of a non-insurance "parent": a parent company, holding or association. Its primary goal is to improve risk management of the parent's business while optimizing cash flows and tax-planning issues.
This usually is an insurance company formed to insure the risks of its owner (parent company).
an insurance company set up by a parent company, in order to receive that parent's insurance business.
A company formed to insure the risks of a parent company. This is usually done when business insurance for a certain commercial risk cannot be obtained through markets.
