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  "docSlug": "42c0f41bb20dd629",
  "documentTitle": "Captive Insurance Guide",
  "authorId": "KPMG",
  "authorName": "KPMG",
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  "notes": "The slide uses an infinity loop diagram to represent the cyclical nature of captive management.",
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      "text": "Infinity loop diagram showing Design, Launch, On-going operation, Review, and Restructuring stages.",
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      "text": "Design: Complete all preliminary assessments to determine if setting up a captive is the right strategic move for the organisation. Define the captive structure, domicile and risk to be retained.",
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      "text": "Launch: Build the business plan and submit the application to the local regulator. Start underwriting, issuing policies, collecting premiums and arranging reinsurance structures. Hold the initial Board meeting in the jurisdiction.",
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      "text": "Review: Periodical assessment of the captive performance against the initial business plan and design principles. Adjustment to align with the organisation's risk profile and business strategy. Opportunity for optimising risk financing efficiency.",
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      "text": "On-going operation: Continuous monitoring of the operation, loss reserves and excess capital. Expand the retention levels and additional risks, new lines of coverage or new territories.",
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      "text": "Restructuring: Should a captive no longer provide benefit to the parent it can stop underwriting and be placed in run-off allowing outstanding liabilities to either expire naturally or be sold to a run-off acquirer to manage any residual claims. Any remaining capital or reserve would be distributed to the parent company.",
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      "kind": "paragraph",
      "text": "We understand what is required for the successful management of a captive – throughout its lifecycle. The combination of our team's experience with start-ups, deep knowledge of the Bermuda regulatory environment, and established working relationship with the BMA, makes us the advisor of choice for captives in Bermuda.",
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      "text": "Lifecycle",
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