Companies:

• Paget Re (Bermuda)
• Pembroke Re (Delaware)
• All insurance lines written

ACE’s professionally managed, wholly owned subsidiaries, Paget Re and Pembroke Re provide a flexible and cost effective ‘rent-a-captive’ solution for managing high volume, predictable losses.

For the financially secure client with a strong risk management philosophy and track record of practical implementation throughout its operations, Paget Re and Pembroke Re offer all the benefits of a captive insurance company, without the associated administrative capital and governance burden.

Both companies are fully regulated and provide responsive facilities for companies from all sectors and regions of the world. Participation in underwriting profits and access to the reinsurance market are just two of the advantages.

Clients who benefit from rent-a-captive solutions tend to have an overall good loss experience and a predictable, year-on-year, high volume of lower level losses, such as employers liability or motor fleet claims.

Set-up involves a transparent and detailed agreement drawn up between the client and Paget Re or Pembroke Re. This sets out the services provided and how funding, distribution of profits and investments will be handled. It is essential that the client company itself is financially secure and that it has a long-term, proven commitment to active risk management.

A rent-a-captive gives clients greater control over their insurance programmes, usually including a reduction in the overall risk costs and the ability to insure otherwise uninsured risks. ACE also provides a comprehensive ‘fronting’ facility for managing clients’ own captive insurance companies.