Houston-based Capstone Associated Services Ltd. announced it has formed its 100th captive insurance company. Capstone formed its first captive in 1998 and has since formed captives for a wide variety of middle market businesses with headquarters throughout the United States.
Capstone’s clients use alternative risk financing strategies to reduce insurance costs, improve risk management, customize coverages and increase cash flow. Capstone provides captive insurance services to middle market companies, offering turnkey services with its related law firm.
Thousands of businesses representing industries such as manufacturing, fabrication, distribution, medical, finance and construction, now participate in alternative risk planning to better insure the risks of its affiliates, according to Capstone.
“Over 90 percent of Fortune 1000 companies and many successful mid-market companies have captives,” stated Lance McNeel, Capstone’s director of Insurance. “An estimated 50 percent of all property and casualty premiums are written through captives.”
McNeel said beginning in 2009, the company significantly expanded its “domestic captive formations after becoming a licensed captive manager in Delaware.”
Capstone is also a licensed captive manager in Anguilla.
Source: Capstone Associated Services Ltd.
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