Services

Pegasus Captive Management, LLC provides your business with a turn key platform of Captive Insurance Company services including:

A limited analysis of the theoretical and practical aspects of establishing an insurance company, which may include the following:

Identification of appropriate risk areas, and the development of related risk transfer solutions
Coordination of substantive and structural input from other key service providers or advisors and professionals, including actuaries, insurance brokers or agents, accountants and lawyers
Outlines for a plan to implement a captive insurance structure
Determination of premium ranges, retentions, capital allocation and developing financial projections for a captive structure
Consideration of fronting arrangements and reinsurance opportunities
Discussion of accounting, tax, and regulatory matters, and attention to how such issues are addressed
Providing benchmarks for the performance of the captive structure
Where applicable or desirable, financial models

Design of custom tailored business plans that set out the operation and management of a captive insurance company
Establishing 5-year pro forma financial statements, including a balance sheet, an income statement and a statement of cash flows

Pegasus manages the licensing process, including the following matters:

Providing a focal point for all service providers
Preparation of application documentation to submit to regulatory authorities
Meeting with regulators to discuss each particular application for establishment/formation of a captive insurance company
Continued interface with regulatory representatives to ensure prompt attention to the application and the timely completion of the formation process
Coordination and supervision of incorporation of the company
Filing of the application, supporting and supplemental information and payment of licensing fees

Review and assistance with preparation of a balance sheet, an income statement and statements of cash flows (on a monthly or quarterly basis)

Moderation of NAIC and tax filings in conjunction with strategic partners, or through coordination of services with retained professionals
Coordination of annual insurance company audits
Submission of annual reports to the insurance regulators

Benchmark coverage and related premiums
Preparation of documentation including applications, policy documents, renewal invitations and premium payment confirmations and related notices
Review of third-party (traditional) insurance documentation, including reinsurance agreements
Biannual underwriting review
Liaison with actuary and other professionals and service providers as required

Monitoring of brokerage, banking and financial statements
Quarterly financial review
Quarterly review of compliance with local insurance and corporate legal requirements
Periodic review of solvency, capital adequacy and asset allocation requirements
Production of annual compliance reports

Coordinating actuarial service providers to address capital adequacy, reserve valuations, premium, rating adequacy and the like

Corporate governance and pseudo-secretarial service, including items such as: