HSP to Team with USA Risk Group on Captive Management & Related Services
Hanover Stone Partners and USA Risk Group, the world's leading independent captive management firm, have agreed to collaborate on captive management, governance and related services to help businesses and other commercial entities with the full range of their alternative risk financing activities, including using captives to self-fund U.S. employee benefits.
"Captive formations and utilization continue to expand as businesses find new uses for captives - especially given the current drive to self-fund employee benefits under the U.S. Affordable Care Act, as well as their ongoing involvement in property-casualty programs to increase retentions, fill gaps in insurance programs, and address complex and emerging risks," said John J. Kelly, managing partner, Hanover Stone Partners. "USA Risk Group gives us a world-class partner, enabling us to address a key strategic objective to help clients widen their use of captives to fund employee benefits along with all aspects of their captive insurance planning, management, program development, and governance."