Our team of over 500 professionals possess a wealth of knowledge and insurance management experience. As part of one of the world’s leading professional services firms, we have access to a wide range and depth of data, services and expertise that we continually leverage to provide value and solutions to our client base.
Aon is responsible for ensuring regulatory compliance. We act as the principal representative for the captive as set out under the provisions of the laws of the various domiciles in which we do business and fulfil the following duties:
- Maintain principal place of business in the domicile, if required
- Monitor the captive's compliance with insurance regulations and requirements contained in the applicable laws and, if necessary, make recommendations as to corrective action
- Prepare, coordinate and submit the annual filings as required by the Law
- Arrange for the payment of appropriate local government fees
- Prepare and submit business plan amendments for regulatory approval, including the addition of new covers, changes in limits, rotation of directors, etc.
- Liaise with the captive's appointed attorneys and auditors
We undertake the management of cash, including:
- Coordination of the selected investment advisors to ensure timely reporting
- Monitoring cash balances held in the captive's bank accounts and investing surplus funds on a timely basis in accordance with the company's investment policy
- Execute checks and set up wire instructions within agreed limits of authority conferred by the captive's Board
We provide services for the annual Board Meeting, including:
- Preparation of a comprehensive Board book of agenda items and supporting material, such as past minutes for ratification, financial and underwriting reports, claims reviews, auditor, actuarial and investment reports and special items for consideration by the Board, such as strategy reviews
- Act as the captive's Company Secretary and prepare necessary resolutions and actions of the shareholder and the Board of Directors