White Rock, the Aon-owned, Bermuda-based specialist in protected cell companies and rent-a-captives, has announced the addition of a segregated accounts company, White Rock Insurance (SAC) Bermuda Ltd (White Rock Bermuda), to its fast growing family.
“White Rock Bermuda will provide an alternative risk management model for the middle market sector, but without the investment in capital and management time required for stand-alone captives,” said the bulletin. “The White Rock model can provide a variety of risk management tools ranging from single mono-line programs through to run-offs and securitizations. White Rock is licensed in Bermuda for all classes of general and long-term (life) insurance business.”
Clive James, a director at White Rock, commented: “The establishment of White Rock in Bermuda provides another cell captive option to our client base. Bermuda brings a number of exciting opportunities not only to the American region but also to our worldwide risk managers. The flexibility of the Bermuda market for cells brings us the opportunity to provide a quick, simple, effective and cost beneficial method of entering the captive market.”
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