Zurich and ICS Collaborate for Sustainability-Driven Companies
Zurich Insurance Group AG
Zurich North America and Innovative Captive Strategies have partnered to create Envision Re, a group captive insurance company that aims to bring together companies that share a common interest in optimising their risk management programmes.
The group's formation also aims to develop sustainable business practices.
ICS, which specialises in creating member-owned group captives, will manage the captive. ICS now administers over 35 group captives in the property-casualty and employee benefit sectors.
Dawn Hiestand, head of group captives at Zurich North America, says: “Envision Re’s sustainability lens is unique in the group captives marketplace. The Envision Re captive will provide the usual advantages of a member-owned, Zurich-fronted captive, offering companies greater control of their auto, general liability, and workers’ compensation risk management programmes with the added value of services and support for members’ sustainability objectives."
Tim Flattery, captive consultant and shareholder at ICS, adds: “ICS has built its reputation around creating captives with higher engagement and more control through a peer group experience for its captive owners. This leads to loss ratios that outperform the industry standards.”
Source: Captive Insurance Times