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The Insurance Times

captive insurers operating worldwide with
nearly 35% of them located in tax heavens
like Bermuda, Luxembourg, Guernsey, Cayman
Islands, Bahamas, Hawaii, Isle of Man,
Barbados, Luxembourg, Dublin, Vermont,
Singapore and other locations.

The captives were established since 1960's but there
was development only a decade ago. A captive
insurance company normally provides coverage at a
lower cost when compared to the companies in
insurance industry generally.

Types of captives:
The various kinds of captives can be branched out as
follows:

Single Parent Captives:
Single parent captives are also called 'pure'
captives. These captives provide coverage to single
owners who own the company. A risk manager or
financial officer at the parent company monitors them.

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