CPG's Captive Team can lead you through the Captive formation and structure process including:

• Identification of the appropriate captive management including legal and finance
• Provision of support around the process of establishing a captive
• Management of the process of creating reports and reporting lines

CPG will work to solidify the recommendations from the Captive strategy report — including client decisions on recommendations and design — and will implement the captive strategy. CPG's captive strategy follows an 8 step implementation process:

1. Business Plan
   • We design custom tailored business plans that set out the operation and management of a captive insurance company.
   • We establish pro forma financial statements and statement of cash flows.
   • We make recommendations on the various domiciles that would best fit your program.
2. Actuarial Study
   • An actuarial firm provides actuarial models that include suggested retention limits and the loss pick which is calculated from the prior 5 years loss experience.
3. Captive Service Providers
   Selection of a competent team is one of the most important parts of the captive formation process and can determine its success or failure. Your Captive team will consist of:
   • Asset Manager
   • Lawyer
   • Accountant
   • Foreign Captive Management
   • Domestic Captive Management (CPG)
4. Commissioner/Regulators
   • Prepare application documentation to submit to regulatory authorities.
   • Deliver application for establishment/formation of a captive insurance company.
   • Continue interface with regulatory representatives.
5. Insurance Application
   • File the application and supplemental information.
   • Pay licensing fees.
   • Complete and file the Captive’s license application with the chosen domicile’s insurance department/regulators/finance ministry for approval.
6. Formation and Incorporation
   • On approval of the insurance application by the Insurance Commissioner, a Statement of Authority is issued that allows the formation of the captive insurance company.
   • Coordination and supervision of Captive incorporation.
7. Capitalization
   • Initial capitalization of the Captive is set by the domicile and the actuary, which will vary depending on the size of the captive, the number of coverages in the captive and the amount of risk assumed by the captive.
8. Licensing
   • Upon proof of the Certificate of Incorporation and capitalization, the Commissioner then issues the insurance license to the captive. The Captive is now legally operational.