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Captive Resource Center
Businesses and Associations
Research & Information
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Banking and Custodial Services
Comerica Bank Captive Insurance Services
Fifth Third Bank Financial Products for Captives
HSBC Insurance Management
Wells Fargo Bank
| Comerica Bank is
one of the few financial institutions in the United States with
a dedicated Captive Insurance Group. With our expertise in the captive
insurance industry, full service financial capabilities and worldwide
banking connections, we're here to help you succeed.
We specialize in meeting the unique banking requirements of captive
insurance and alternative risk management programs with standby
letters of credit, trust and investment management services, cash
management and international treasury services, and consulting and
relationship management.
Investment Management Services are provided through Comerica
Asset Management and we are pleased to offer discounted
LOCs when our services are packaged together.
Whatever the challenge or opportunity, Comerica can help you meet
it. Triumphantly. When it comes to business, there's a big difference
between being willing to help, and being able to. After a century
and a half, Comerica remains the leader in business banking because
we get things done. Put our Captive Insurance Group to work for
you.
Find out more about Comerica's captive insurance services by visiting
our pages 
Contact:
Martin G. Ellis
Senior Vice President
Captive Insurance Services
313 222-9443
Fax: 313 222-5466
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Fifth
Third Bank now offers a full range of financial products to
the captive insurance industry. We recognize that you work
hard to manage your captive insurance program to minimize
premium and administrative expenses, as well as collateral
requirements.
With
our full service suite of financial products, Fifth Third
Bank will work relentlessly to unlock the hidden potential
within your program so that it may reach its maximum capability
tomorrow.
Here
are some of our capabilities:
•
Reinsurance Trusts
• Letters of Credit
• Deposit Accounts
• Investment Management Services
• United States and Foreign Office Capabilities
For
more information, visit our Financial
Products for Captives Website.
Contact
information:
John
Antonczak
Vice President & Relationship Manager
Fifth Third Bank
1000 Town Center, Suite 1400
MD JTWN4I
Southfield, MI 48075
Phone: 248-603-0772
E-mail John
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Tom
Kuslits
Vice President & Managing Director
Fifth Third Bank
1000 Town Center, Suite 1400
MD JTWN4I
Southfield, MI 48075
Phone: 248-603-0533
E-mail Tom
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HSBC Insurance Management (HIM)
provides captive management, captive feasibility studies, registration
and incorporation of captives, general representation in domiciles
all over the world, secretarial, accounting and underwriting support
as well as assistance with service provider selection, statistical
analysis and liaison with regulators. |
HSBC Insurance SPC is a "rent-a-captive' facility licensed
and domiciled in the Cayman Islands under the Segregated Portfolio Company
legislation. Branches of this company have also been established in Bermuda
and Guernsey. We also provide brokerage services in Bermuda through HSBC
Insurance Services (Bermuda) Limited including captive fronting and reinsurance
and a full array of alternative risk financing products. Full investment,
asset arrangement and banking services are available through members of
the HSBC Group.
HSBC Holdings plc is one of the world's largest banking
and financial services organizations, with major personal, commercial
, corporate and investment banking and insurance business operating in
the Americas, Asia-Pacific region, Europe, the Middle East and Africa.
Headquartered in London, the HSBC Group has more than 5.000 offices in
82 countries and territories and over 130,000 employees. At year end December
31, 1999, the Group's assets were $569 billion with pre-tax profit of
$7.982 billion.
| North
American Contacts
(including Bermuda and Caribbean):
Harry W Rodgers
Vice President and Director of New Business Development
HSBC Insurance Management (USA)
452 Fifth Avenue
New York, NY 10018
Phone 212-525-2553
Fax 212-525-2570
Mobile 410-206-9300
Email harry.w.rodgers@us.hsbc.com
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Europe
and Asia-Pacific contact:
Chris Charman
Senior Exec. Business Development
HSBC Insurance Management
8 Canada Square,Canary Wharf, London, E14 5HQ, United Kingdom
Phone 44 207 9910270
Fax 44 207 9914640
Mobile 44 07920 543801
Email chris.charman@hsbc.com |
More
information? Visit our Home Page
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| The Wells Fargo Insurance Trust group
is the world’s premier provider of insurance trusts, reinsurance
trusts, insurance escrows, and surety escrows. Our group has
been involved in the establishment and administration of over
600 insurance and surety related trusts. These trusts have saved
our clients over $400 million in credit fees. We
specialize in collateral alternatives and posses the most
knowledgeable Insurance Trust servicing team in the industry,
enabling us to meet all your insurance collateral related
needs. We offer personalized service along with insurance
and product expertise that sets us apart from other banks.
Insurance carriers and regulators generally
require that corporations involved with self-insurance programs
(e.g. Deductible and Captive Insurance Programs) demonstrate
that they will always be able pay the claims that they are
responsible for. They do this because they don’t want
the insured parties to be left “out in the cold”
should the corporation not be able to meet their obligations.
Historically, corporations have posted letters
of credit to demonstrate their ongoing ability to pay claims.
These letters of credit act as collateral. However, they are
expensive, increasingly difficult to obtain, and they encumber
the corporation’s credit lines.
The Wells Fargo Insurance Trust is a less
expensive alternative to Letters of credit. It does not tie
up the corporation’s credit lines, and it is accepted
by the regulators and most insurance carriers. Here is how
it works:
The corporation, the insurance carrier, and
Wells Fargo enter into a tri-party agreement in which Wells
Fargo acts as the Trustee. The corporation deposits cash (equal
to what the letter of credit would otherwise have been) into
an account and names the insurance carrier as the beneficiary
of the trust. Should the corporation not pay out their claims,
the trust money is used to cover the costs.
It is simple to set up, saves the client over
80% of their L/C fees, frees up the clients credit lines,
and improves the corporation’s balance sheet. Please
visit our web site at www.wellsfargo.com/insurancetrust
Robert Quinn
Vice President
Product Development
212-515-1561
robert.g.quinn@wellsfargo.com
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