Captive Insurance
Turnkey Captive Insurance Services & Solutions
To help manage risk and provide substantial tax benefits
Centerprise Group has been helping many corporations transfer much of their risk to captive insurance companies, which allow them to reap the benefits of special tax treatment.
Captive Insurance Company
Captive Taxation Benefits
- All premium payments are 100% tax deductible, and are tax free to the captive insurance company – up to $1.2 million each year. Owning a captive can increase a business owner’s after tax income by 42% to 180%
- Over time captives convert ordinary income into qualified dividends or long term capital gains
- A captive’s tax treatment can be guaranteed in writing with an IRS “Letter Ruling”
- Tax preferred dividend income accrues at a low tax rate in a captive
- A captive’s tax deferral feature can provide big tax planning, retirement and estate tax benefits
Captive Business Growth
The captive business has grown exponentially as new captive legislation has passed and changing tax laws have enabled business owners to deduct the premium payments to the captive.Insurable Risks
Captives are flexible entities that can accept many of the insurable risks facing any industry. They are commonly found among companies in the construction, distribution, manufacturing, financial services and other service industries.
Captives commonly insure property and casualty risks that include:
- Property damage
- Excess / umbrella liability
- Fiduciary liability
- Business interruption
- Workers’ compensation
- Employee practices
- Boiler and machinery
- Professional liability
- Surety
- Terrorism
- Environmental
- Employee benefits
- Commercial general liability
- Auto liability and damage
- Receivables
Turnkey Services and Solutions
Centerprise Group keeps up-to-date with the highly complex and constantly evolving federal and state laws that govern captives, allowing mid-sized companies and their owners the benefits of huge insurance and tax savings as well as big estate planning, retirement, and asset production benefits.
Business owners interested in self insuring a portion of their business risks at dramatic savings can contact Centerprise about owning and operating their own Captive Insurance Company. You’ll experience lower premiums, stabilized rates, and increases in after tax profits.
Turnkey Captive
Insurance Services include:
- Company planning
- Feasibility studies
- Domicile selection
- Company formation & licensing
- Management
- Underwriting
- Captive reinsurance
- Risk pools
- Company accounting & compliance reporting
- Company tax planning & preparation services
- Estate planning
- Retirement planning
- Asset protection planning