Macquarie, a global financial services provider, has expanded its client offering with the launch of a rent-a-captive insurance solution for property and casualty-related risks.
This new initiative aims to enhance the company’s existing insurance services and provide clients with tailored solutions to manage their insurance needs effectively.
The launch of the rent-a-captive insurance solution follows regulatory approval earlier this year, allowing clients to leverage Macquarie’s status as a captive insurer.
This innovative approach enables clients to bypass the substantial upfront investment and ongoing operational expenses that typically accompany the establishment of a single-parent captive insurer.
Instead, they gain access to significant benefits, including enhanced control, flexibility in risk retention, and improved risk management capabilities.
Macquarie has established itself as a leader in the insurance sector, particularly through its Insurance Facility, which has grown to become one of the world’s largest insurance aggregators.
The facility aggregates approximately $1.6bn of premium spend annually from various sectors, including private equity, infrastructure, energy, and real estate.
By focusing on providing customised insurance solutions, Macquarie is meeting the evolving needs of its clients and addressing the complexities of the insurance landscape.
The new rent-a-captive product is designed to provide clients with a flexible and efficient insurance solution.
By enabling businesses to utilise the benefits of captive insurance without the operational burdens, Macquarie aims to simplify the insurance process and allow clients to focus on their core operations.
This solution not only streamlines the insurance experience but also empowers clients to manage their risks more effectively.
Macquarie’s entrance into the rent-a-captive market is part of its broader strategy to enhance its insurance expertise.
Earlier this year, the company received approval as a Lloyd’s cover holder and secured a binding authority agreement with Mosaic Insurance, further solidifying its position within the insurance market.
Nick Wilski, Global Head of Macquarie Insurance Facility, said, “Macquarie joining the rent-a-captive market provides an opportunity for our clients to simplify their insurance needs. By offering clients the opportunity to leverage the benefits of captive insurance, without the operational burden, we’re providing an efficient, flexible and tailored insurance solution.”
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