Forming and Operating a Captive

About Risk Management Advisors:

Risk Management Advisors is a firm dedicated to helping successful business owners keep more of what they work hard to make.  We are specialists in the design, implementation and management of alternative risk transfer programs including, but not limited to captive insurance companies and self-insured plans. 

Your Goals and Objectives:

RMA works with you and key advisors to evaluate the feasibility of various structures and ultimately implement and manage the program year to year. 


Action Step



Feasibility Study


  • Answers essential question: “What will my return on investment be by using a captive?”
  • Includes analysis of risk to be insured, reinsurance, capitalization, operational plan, 5yr prospective financial statements and dividend and/or profit allocation system.





  • Client Instruction
  • RMA retains & coordinates service providers/TPAs
  • Finalize reinsurance application
  • Business plan drafted
  • Submit application to regulator
  • Receive approval letter
  • Finalize articles & bylaws
  • Receive Certificate of Authority
  • Client capitalizes the captive
  • Reinsurance is bound
  • Captive is operational





  • Maintain compliance in domicile
  • Monthly Accounting
  • Underwriting & Policy Issuance
  • Annual Captive Audit
  • Tax return & related filings
  • Actuarial reserve analysis
  • Attorney Services
  • Corporate formalities