ADVANTAGES OF WORKING WITH THE QUALIFIED PROFESSIONALS AT BLENHEIM

 

All licensed insurance companies in the BVI must appoint a resident insurance manager. The Insurance Manager ensures maintenance of key corporate, insurance, reinsurance and accounting records at the principle office in the BVI.  Blenheim Insurance Management (BVI) Limited works with the client and their advisors to ensure efficient operation of the captive whilst maimising the potential advantages and returns.

 

The creation of a captive can be a complex process, our experienced insurance professionals will streamline and simplify the process and guide you through all aspects of licence, establishment and administration.  Blenheim works with insurance professionals worldwide and will provide all the services needed for the captive to commence business.  The services provided by Blenheim include:

 

è Advice on the structure of the captive

è Assist with preparation of constitutional documents

è Formation of the captive

è Assistance with feasibility study and preparation of business plan

è Providing the licenced insurance manager in the BVI

è Licence application and renewal

è Corporate and secretarial administration

è Accounting and solvency calculation and management reports

è Advice of policy wording and issuance

è Claims administration and, loss control

è Review of claims experience and establishing reserves

è Negotiating reinsurance programmes and fronting arrangements

è Assistance with underwriting procedures

è Appointment of auditor, actuary, attorney or other professional

è Fiscal management, establishing bank and investment accounts

è Communicating with directors, insured and shareholders;

è Maintaining accounts and liaising with the company's auditors;

è Disbursement of dividends, fees, directors’ salaries, overheads;

è Holding of shareholders' and board of directors' meetings;

è Corresponding with the captives professional advisors;

è Liaison with the Financial Services Commission

 

The general information above is designed as a guide, no legal or other professional advice or option is being rendered.  Any liability or loss incurred as a consequence, directly or indirectly from the use or application of the information contained herein, is specifically disclaimed.