Captive Insurance Advisory Services

Midsized and large privately held companies are facing difficult times in relation to insurance costs and coverage available. More than 80% of Fortune 500 companies own a captive insurance company (captive). While captive insurance is an accepted risk management tool, many midsized and large privately held companies are uninformed about the benefits of a captive. A captive insurance company is a premier insurance risk management and tax planning tool for businesses and their owners. A company needs to consider many factors when forming a captive, including a long-term horizon for the proper development and implementation of a captive program.

At HKG, we have a team of tax professionals, audit professionals and consultants who can assist with the nuts and bolts of captives -- beginning with who should form one, to the process of formation and the required outside insurance professionals needed to run it. Our team can help determine whether a captive insurance company is right for your business. We can help you avoid the legal and tax pitfalls that can limit the effectiveness of a captive insurance company.

Benefits of a Captive:

• Improved risk management.
• Risk retention.
• Minimized insurance costs.
• Asset protection/estate planning.
• Retention of investment income.
• Access to the reinsurance market.
• Potential tax savings.

Potential Captive candidates:

• Health care providers.
• Manufacturers and wholesale distributors.
• Exporters and importers.
• Construction-related industries.
• Specialty medical providers.
• Transportation/logistics companies.

Our Captive Clients

• Health care providers.
• Food manufacturers.
• Apparel manufacturers.
• Bariatric surgeons.
• Commercial property owners.
• Hospitality (hotels).
• Employee leasing companies.

Senior Members of HKG's Insurance Captive Advisory Group:

Fred T. Arjani, CPA

Fred has developed a niche helping his clients set up captive insurance companies of all sizes, from 831(b) companies to captives that pay millions in annual premiums, and he has assisted clients in setting up captives in various domiciles.

Darren P. Calbay, CPA, MST

Darren provides a full range of tax and consulting services to a variety of industries, including captive insurance companies, real estate, manufacturing and professional services. He has extensive experience with tax and accounting issues relating to captive insurance companies.

Justin J. Evangelista

Justin has more than seven years of experience in the accounting profession. His career at HKG has been focused primarily on audit, tax and accounting services related to captive insurance companies. Justin also serves as an intermediary between the insurance manager and the captive insurance company.