Pegasus Captive Management, LLC provides your business with a turn key platform of Captive Insurance Company services including:

Captive Formation

Feasibility Study

A limited analysis of the theoretical and practical aspects of establishing an insurance company, which may include the following:

  • Identification of appropriate risk areas, and the development of related risk transfer solutions
  • Coordination of substantive and structural input from other key service providers or advisors and professionals, including actuaries, insurance brokers or agents, accountants and lawyers
  • Outlines for a plan to implement a captive insurance structure
  • Determination of premium ranges, retentions, capital allocation and developing financial projections for a captive structure
  • Consideration of fronting arrangements and reinsurance opportunities
  • Discussion of accounting, tax, and regulatory matters, and attention to how such issues are addressed
  • Providing benchmarks for the performance of the captive structure
  • Where applicable or desirable, financial models

Business Plan

  • Design of custom tailored business plans that set out the operation and management of a captive insurance company
  • Establishing 5-year pro forma financial statements, including a balance sheet, an income statement and a statement of cash flows


Pegasus manages the licensing process, including the following matters:

  • Providing a focal point for all service providers
  • Preparation of application documentation to submit to regulatory authorities
  • Meeting with regulators to discuss each particular application for establishment/formation of a captive insurance company
  • Continued interface with regulatory representatives to ensure prompt attention to the application and the timely completion of the formation process
  • Coordination and supervision of incorporation of the company
  • Filing of the application, supporting and supplemental information and payment of licensing fees

Captive Management


Review and assistance with preparation of a balance sheet, an income statement and statements of cash flows (on a monthly or quarterly basis)

  • Moderation of NAIC and tax filings in conjunction with strategic partners, or through coordination of services with retained professionals
  • Coordination of annual insurance company audits
  • Submission of annual reports to the insurance regulators

Underwriting and Policy Issuance

  • Benchmark coverage and related premiums
  • Preparation of documentation including applications, policy documents, renewal invitations and premium payment confirmations and related notices
  • Review of third-party (traditional) insurance documentation, including reinsurance agreements
  • Biannual underwriting review
  • Liaison with actuary and other professionals and service providers as required


  • Claims management
  • Coverage review
  • Appointment of claims administrator
  • Appointment of legal counsel
  • Production (limited) of settlement documentation
  • Provision of quarterly claims reports
  • Annual audit of claim settlements
  • Assistance with claims reserves and liaison with actuary

Regulatory Compliance

  • Monitoring of brokerage, banking and financial statements
  • Quarterly financial review
  • Quarterly review of compliance with local insurance and corporate legal requirements
  • Periodic review of solvency, capital adequacy and asset allocation requirements
  • Production of annual compliance reports


  • Coordinating actuarial service providers to address capital adequacy, reserve valuations, premium, rating adequacy and the like


Corporate governance and pseudo-secretarial service, including items such as:

  • Liaison with registered office
  • Liaison with registered agent
  • Production (limited) of corporate minutes
  • Production (limited) of corporate resolutions
  • Coordination of general corporate law matters and compliance
  • Liaison with legal counsel in the captive domicile


  • Liaison with the insurance regulators
  • Liaison with key service providers, including:
    • Actuary
    • Auditor
    • Accountant
    • Registered Office
    • Registered Agent
    • Legal counsel
    • Investment Advisor/Manager/ Wealth Manager
  • Regular discussion and updates with clients

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