8
Securely managed insurance solutions Protected Cell, Incorporated Cell and Segregated Account facilities
About us White Rock is a unique and leading group of insurance and reinsurance vehicles with operations in a number of key domiciles including Bermuda, Gibraltar, Guernsey, Isle of Man and Malta.
About AonAon plc (NYSE:AON) is the leading global provider of risk management, insurance and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 62,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative and effective risk and people solutions and through industry-leading global resources and technical expertise. Aon has been named repeatedly as the world’s best broker, best insurance intermediary, reinsurance intermediary, captives manager and best employee benefits consulting firm by multiple industry sources.
Visit aon.com for more information about Aon.
Contacts - BermudaRobert Johnson Managing Director t: +1.441.278.1261e: [email protected]
thewhiterockgroup.com
Aon UK Limited is authorised and regulated by the Financial Conduct Authority.
Registered Office: 8 Devonshire Square, London, EC2M 4PLRegistered in London No.210725 VAT Registration No.480 48
© Copyright 2013 by Aon UK Limited. All rights reserved.
FP 8207
Vincent Barrett Group Managing Director t: +353 86 8188595 e: [email protected]
Owned by Aon, the White Rock Group offers clients a diverse suite of insurance solutions through utilisation of Protected Cell, Incorporated Cell and Segregated Account facilities.Aon’s leadership in this field is demonstrated by our innovative approach to these structures and our tightly controlled governance framework which ensures that our clients’ interests are well protected.
White Rock was the first group to form a Protected Cell Company, the first to form an Incorporated Cell Company and is constantly seeking to adapt its structures and domicile infrastructure to meet client needs.
Securely managed insurance solutionsProtected Cell, Incorporated Cell and Segregated Account facilities
About us White Rock is a unique and leading group of insurance and reinsurance vehicles with operations in a number of key domiciles including Bermuda, Gibraltar, Guernsey, Isle of Man and Malta.
About AonAon plc (NYSE:AON) is the leading global provider of risk management, insurance and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 62,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative and effective risk and people solutions and through industry-leading global resources and technical expertise. Aon has been named repeatedly as the world’s best broker, best insurance intermediary, reinsurance intermediary, captives manager and best employee benefits consulting firm by multiple industry sources.
Visit aon.com for more information about Aon.
Contacts - BermudaRobert Johnson Managing Director t: +1.441.278.1261e: [email protected]
thewhiterockgroup.com
Aon UK Limited is authorised and regulated by the Financial Conduct Authority.
Registered Office: 8 Devonshire Square, London, EC2M 4PLRegistered in London No.210725 VAT Registration No.480 48
© Copyright 2013 by Aon UK Limited. All rights reserved.
FP 8207
Vincent Barrett Group Managing Director t: +353 86 8188595 e: [email protected]
Owned by Aon, the White Rock Group offers clients a diverse suite of insurance solutions through utilisation of Protected Cell, Incorporated Cell and Segregated Account facilities.Aon’s leadership in this field is demonstrated by our innovative approach to these structures and our tightly controlled governance framework which ensures that our clients’ interests are well protected.
White Rock was the first group to form a Protected Cell Company, the first to form an Incorporated Cell Company and is constantly seeking to adapt its structures and domicile infrastructure to meet client needs.
Securely managed insurance solutionsProtected Cell, Incorporated Cell and Segregated Account facilities
About us White Rock is a unique and leading group of insurance and reinsurance vehicles with operations in a number of key domiciles including Bermuda, Gibraltar, Guernsey, Isle of Man and Malta.
About AonAon plc (NYSE:AON) is the leading global provider of risk management, insurance and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 62,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative and effective risk and people solutions and through industry-leading global resources and technical expertise. Aon has been named repeatedly as the world’s best broker, best insurance intermediary, reinsurance intermediary, captives manager and best employee benefits consulting firm by multiple industry sources.
Visit aon.com for more information about Aon.
Contacts - BermudaRobert Johnson Managing Director t: +1.441.278.1261e: [email protected]
thewhiterockgroup.com
Aon UK Limited is authorised and regulated by the Financial Conduct Authority.
Registered Office: 8 Devonshire Square, London, EC2M 4PLRegistered in London No.210725 VAT Registration No.480 48
© Copyright 2013 by Aon UK Limited. All rights reserved.
FP 8207
Vincent Barrett Group Managing Director t: +353 86 8188595 e: [email protected]
Owned by Aon, the White Rock Group offers clients a diverse suite of insurance solutions through utilisation of Protected Cell, Incorporated Cell and Segregated Account facilities.Aon’s leadership in this field is demonstrated by our innovative approach to these structures and our tightly controlled governance framework which ensures that our clients’ interests are well protected.
White Rock was the first group to form a Protected Cell Company, the first to form an Incorporated Cell Company and is constantly seeking to adapt its structures and domicile infrastructure to meet client needs.
Securely managed insurance solutionsProtected Cell, Incorporated Cell and Segregated Account facilities
Why Bermuda? Bermuda is one of the three largest jurisdictions for insurance and reinsurance commerce and is widely recognized as the home of thought leadership and innovation.
n White Rock Bermuda is a Segregated Accounts Company (SAC) licensed by the Bermuda Monetary Authority (BMA) in 1982.
n White Rock Bermuda is licensed to write all classes of general insurance and long-term business and has the capability to write direct or reinsurance policies on a non-admitted basis, subject to local regulations.
n Benefits of using White Rock Bermuda include access to reinsurance markets, speed in which to start and exit cells and operating cost efficiencies compared to other forms of traditional captive formation.
n White Rock Bermuda is not an insurance capacity provider but offers clients the flexibility of solutions for fronting, risk retention, life securitization and capital market transactions.
Principles of SAC
Retained Cells White Rock offers Segregated Account, Protected or Incorporated cell facilities where each insured’s business is legally segregated from all other cells in the chosen vehicle. These cells can be used by clients who wish to have a direct-writing, or reinsurance facility without the need to establish a separate company.
Typically, this solution may suit small and medium sized companies where there are cost efficiencies compared to a stand-alone captive, or larger organisations that want to reduce the management time and administration associated with captive ownership.
Benefits n An effective alternative to a stand-alone captive, the benefits of which include: - Risk management focus and the ability to stabilise losses over time - Direct reinsurance market access including potentially additional capacity - Flexibility in programme designn Coverage may be available in the reinsurance market that is not available from direct insurers facilitating partial risk transfer optionsn Speed of set up and exitn Proven experience in undertaking these transactionsn The ability to trade with other cells within the Segregated Account Company
Cell 1
Cell 2
Cell 3
Cell 4
Cell 5
Cell 6
White RockSAC
Run-Off and Finality Solutions White Rock offers ‘rump warehousing’ solutions for example: when a captive owner decides to exit the market, very often they find that they cannot find acceptable market terms to do so for all of the risks the captive has underwritten. As a result the captive owner is forced to maintain the entity, incurring the cost and management time required until such time as the underlying market conditions change. This can be avoided where the reserve block in question can be transferred to a cell. In this case all insurance related reserves can be removed from the captive’s balance sheet and the company can be closed.
Benefits n The annual cost and management time invested in running the captive is eliminated n Control over the reserving and claims management process is maintained n Reserves can develop until a viable market solution can be found
Insurance Linked Securities (ILS) The White Rock Group provides capital market investors with flexible and innovative transformer facilities which can be used to directly access the reinsurance market.
Utilising transformer vehicles, capital markets investors are provided the opportunity to participate in (re)insurance event risk, with a primary focus on natural catastrophe perils, via an asset class that is largely uncorrelated to the global capital markets and which is viewed to provide an attractive risk adjusted return. In the absence of a clearly defined trigger event, the initial collateral and any associated proceeds will be realised by the investor.
White Rock offers a turn-key solution to investors looking for ease of set up and flexible ownership options, with minimal operational costs. The White Rock team has extensive experience with establishing new segregated cells and provides all management services and oversight to the vehicles.
Funding Access toCapital markets
investor
White Rock transformer
facility*
(Re) Insurance market
*PCC, ICC, SAC dependent on domicile
Why Bermuda? Bermuda is one of the three largest jurisdictions for insurance and reinsurance commerce and is widely recognized as the home of thought leadership and innovation.
n White Rock Bermuda is a Segregated Accounts Company (SAC) licensed by the Bermuda Monetary Authority (BMA) in 1982.
n White Rock Bermuda is licensed to write all classes of general insurance and long-term business and has the capability to write direct or reinsurance policies on a non-admitted basis, subject to local regulations.
n Benefits of using White Rock Bermuda include access to reinsurance markets, speed in which to start and exit cells and operating cost efficiencies compared to other forms of traditional captive formation.
n White Rock Bermuda is not an insurance capacity provider but offers clients the flexibility of solutions for fronting, risk retention, life securitization and capital market transactions.
Principles of SAC
Retained Cells White Rock offers Segregated Account, Protected or Incorporated cell facilities where each insured’s business is legally segregated from all other cells in the chosen vehicle. These cells can be used by clients who wish to have a direct-writing, or reinsurance facility without the need to establish a separate company.
Typically, this solution may suit small and medium sized companies where there are cost efficiencies compared to a stand-alone captive, or larger organisations that want to reduce the management time and administration associated with captive ownership.
Benefits n An effective alternative to a stand-alone captive, the benefits of which include: - Risk management focus and the ability to stabilise losses over time - Direct reinsurance market access including potentially additional capacity - Flexibility in programme designn Coverage may be available in the reinsurance market that is not available from direct insurers facilitating partial risk transfer optionsn Speed of set up and exitn Proven experience in undertaking these transactionsn The ability to trade with other cells within the Segregated Account Company
Cell 1
Cell 2
Cell 3
Cell 4
Cell 5
Cell 6
White RockSAC
Run-Off and Finality Solutions White Rock offers ‘rump warehousing’ solutions for example: when a captive owner decides to exit the market, very often they find that they cannot find acceptable market terms to do so for all of the risks the captive has underwritten. As a result the captive owner is forced to maintain the entity, incurring the cost and management time required until such time as the underlying market conditions change. This can be avoided where the reserve block in question can be transferred to a cell. In this case all insurance related reserves can be removed from the captive’s balance sheet and the company can be closed.
Benefits n The annual cost and management time invested in running the captive is eliminated n Control over the reserving and claims management process is maintained n Reserves can develop until a viable market solution can be found
Insurance Linked Securities (ILS) The White Rock Group provides capital market investors with flexible and innovative transformer facilities which can be used to directly access the reinsurance market.
Utilising transformer vehicles, capital markets investors are provided the opportunity to participate in (re)insurance event risk, with a primary focus on natural catastrophe perils, via an asset class that is largely uncorrelated to the global capital markets and which is viewed to provide an attractive risk adjusted return. In the absence of a clearly defined trigger event, the initial collateral and any associated proceeds will be realised by the investor.
White Rock offers a turn-key solution to investors looking for ease of set up and flexible ownership options, with minimal operational costs. The White Rock team has extensive experience with establishing new segregated cells and provides all management services and oversight to the vehicles.
Funding Access toCapital markets
investor
White Rock transformer
facility*
(Re) Insurance market
*PCC, ICC, SAC dependent on domicile
Why Bermuda? Bermuda is one of the three largest jurisdictions for insurance and reinsurance commerce and is widely recognized as the home of thought leadership and innovation.
n White Rock Bermuda is a Segregated Accounts Company (SAC) licensed by the Bermuda Monetary Authority (BMA) in 1982.
n White Rock Bermuda is licensed to write all classes of general insurance and long-term business and has the capability to write direct or reinsurance policies on a non-admitted basis, subject to local regulations.
n Benefits of using White Rock Bermuda include access to reinsurance markets, speed in which to start and exit cells and operating cost efficiencies compared to other forms of traditional captive formation.
n White Rock Bermuda is not an insurance capacity provider but offers clients the flexibility of solutions for fronting, risk retention, life securitization and capital market transactions.
Principles of SAC
Retained Cells White Rock offers Segregated Account, Protected or Incorporated cell facilities where each insured’s business is legally segregated from all other cells in the chosen vehicle. These cells can be used by clients who wish to have a direct-writing, or reinsurance facility without the need to establish a separate company.
Typically, this solution may suit small and medium sized companies where there are cost efficiencies compared to a stand-alone captive, or larger organisations that want to reduce the management time and administration associated with captive ownership.
Benefits n An effective alternative to a stand-alone captive, the benefits of which include: - Risk management focus and the ability to stabilise losses over time - Direct reinsurance market access including potentially additional capacity - Flexibility in programme designn Coverage may be available in the reinsurance market that is not available from direct insurers facilitating partial risk transfer optionsn Speed of set up and exitn Proven experience in undertaking these transactionsn The ability to trade with other cells within the Segregated Account Company
Cell 1
Cell 2
Cell 3
Cell 4
Cell 5
Cell 6
White RockSAC
Run-Off and Finality Solutions White Rock offers ‘rump warehousing’ solutions for example: when a captive owner decides to exit the market, very often they find that they cannot find acceptable market terms to do so for all of the risks the captive has underwritten. As a result the captive owner is forced to maintain the entity, incurring the cost and management time required until such time as the underlying market conditions change. This can be avoided where the reserve block in question can be transferred to a cell. In this case all insurance related reserves can be removed from the captive’s balance sheet and the company can be closed.
Benefits n The annual cost and management time invested in running the captive is eliminated n Control over the reserving and claims management process is maintained n Reserves can develop until a viable market solution can be found
Insurance Linked Securities (ILS) The White Rock Group provides capital market investors with flexible and innovative transformer facilities which can be used to directly access the reinsurance market.
Utilising transformer vehicles, capital markets investors are provided the opportunity to participate in (re)insurance event risk, with a primary focus on natural catastrophe perils, via an asset class that is largely uncorrelated to the global capital markets and which is viewed to provide an attractive risk adjusted return. In the absence of a clearly defined trigger event, the initial collateral and any associated proceeds will be realised by the investor.
White Rock offers a turn-key solution to investors looking for ease of set up and flexible ownership options, with minimal operational costs. The White Rock team has extensive experience with establishing new segregated cells and provides all management services and oversight to the vehicles.
Funding Access toCapital markets
investor
White Rock transformer
facility*
(Re) Insurance market
*PCC, ICC, SAC dependent on domicile
Why Bermuda? Bermuda is one of the three largest jurisdictions for insurance and reinsurance commerce and is widely recognized as the home of thought leadership and innovation.
n White Rock Bermuda is a Segregated Accounts Company (SAC) licensed by the Bermuda Monetary Authority (BMA) in 1982.
n White Rock Bermuda is licensed to write all classes of general insurance and long-term business and has the capability to write direct or reinsurance policies on a non-admitted basis, subject to local regulations.
n Benefits of using White Rock Bermuda include access to reinsurance markets, speed in which to start and exit cells and operating cost efficiencies compared to other forms of traditional captive formation.
n White Rock Bermuda is not an insurance capacity provider but offers clients the flexibility of solutions for fronting, risk retention, life securitization and capital market transactions.
Principles of SAC
Retained Cells White Rock offers Segregated Account, Protected or Incorporated cell facilities where each insured’s business is legally segregated from all other cells in the chosen vehicle. These cells can be used by clients who wish to have a direct-writing, or reinsurance facility without the need to establish a separate company.
Typically, this solution may suit small and medium sized companies where there are cost efficiencies compared to a stand-alone captive, or larger organisations that want to reduce the management time and administration associated with captive ownership.
Benefits n An effective alternative to a stand-alone captive, the benefits of which include: - Risk management focus and the ability to stabilise losses over time - Direct reinsurance market access including potentially additional capacity - Flexibility in programme designn Coverage may be available in the reinsurance market that is not available from direct insurers facilitating partial risk transfer optionsn Speed of set up and exitn Proven experience in undertaking these transactionsn The ability to trade with other cells within the Segregated Account Company
Cell 1
Cell 2
Cell 3
Cell 4
Cell 5
Cell 6
White RockSAC
Run-Off and Finality Solutions White Rock offers ‘rump warehousing’ solutions for example: when a captive owner decides to exit the market, very often they find that they cannot find acceptable market terms to do so for all of the risks the captive has underwritten. As a result the captive owner is forced to maintain the entity, incurring the cost and management time required until such time as the underlying market conditions change. This can be avoided where the reserve block in question can be transferred to a cell. In this case all insurance related reserves can be removed from the captive’s balance sheet and the company can be closed.
Benefits n The annual cost and management time invested in running the captive is eliminated n Control over the reserving and claims management process is maintained n Reserves can develop until a viable market solution can be found
Insurance Linked Securities (ILS) The White Rock Group provides capital market investors with flexible and innovative transformer facilities which can be used to directly access the reinsurance market.
Utilising transformer vehicles, capital markets investors are provided the opportunity to participate in (re)insurance event risk, with a primary focus on natural catastrophe perils, via an asset class that is largely uncorrelated to the global capital markets and which is viewed to provide an attractive risk adjusted return. In the absence of a clearly defined trigger event, the initial collateral and any associated proceeds will be realised by the investor.
White Rock offers a turn-key solution to investors looking for ease of set up and flexible ownership options, with minimal operational costs. The White Rock team has extensive experience with establishing new segregated cells and provides all management services and oversight to the vehicles.
Funding Access toCapital markets
investor
White Rock transformer
facility*
(Re) Insurance market
*PCC, ICC, SAC dependent on domicile
About us White Rock is a unique and leading group of insurance and reinsurance vehicles with operations in a number of key domiciles including Bermuda, Gibraltar, Guernsey, Isle of Man and Malta.
About AonAon plc (NYSE:AON) is the leading global provider of risk management, insurance and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 62,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative and effective risk and people solutions and through industry-leading global resources and technical expertise. Aon has been named repeatedly as the world’s best broker, best insurance intermediary, reinsurance intermediary, captives manager and best employee benefits consulting firm by multiple industry sources.
Visit aon.com for more information about Aon.
Contacts - BermudaRobert Johnson Managing Director t: +1.441.278.1261e: [email protected]
thewhiterockgroup.com
Aon UK Limited is authorised and regulated by the Financial Conduct Authority.
Registered Office: 8 Devonshire Square, London, EC2M 4PLRegistered in London No.210725 VAT Registration No.480 48
© Copyright 2013 by Aon UK Limited. All rights reserved.
FP 8207
Vincent Barrett Group Managing Director t: +353 86 8188595 e: [email protected]
Owned by Aon, the White Rock Group offers clients a diverse suite of insurance solutions through utilisation of Protected Cell, Incorporated Cell and Segregated Account facilities.Aon’s leadership in this field is demonstrated by our innovative approach to these structures and our tightly controlled governance framework which ensures that our clients’ interests are well protected.
White Rock was the first group to form a Protected Cell Company, the first to form an Incorporated Cell Company and is constantly seeking to adapt its structures and domicile infrastructure to meet client needs.
Securely managed insurance solutionsProtected Cell, Incorporated Cell and Segregated Account facilities
