The recent introduction of captive insurers to the Alberta regulatory landscape opens the door for companies—whether based in Canada or abroad—to capitalize on the unique advantages of using a related, purpose-built insurance company rather than a third-party insurer to manage risk.
Bennett Jones has a long history of active involvement with extra-provincial captive insurers. As part of helping clients use captive insurers to manage risk effectively and efficiently, Bennett Jones has substantial experience in providing advice on the overall suitability of a captive in the context of client needs, as well as on corporate structure, tax planning and regulatory matters for captive insurers. Our multi-disciplinary team has been at the vanguard of advising companies seeking to establish captives since the Captive Insurance Companies Act was enacted. From the onset, we have been a leading force in establishing captives under the Alberta regime and have experience in establishing captive insurers that underwrite risks both nationally and internationally using a variety of structuring alternatives including corporations, limited partnerships and associations.
When it comes to captive insurance, Bennett Jones has set an unparalleled standard for expertise and innovation. With the most effective, comprehensive and legally sound strategies in this evolving market, our team is a beacon of expertise and reliability, and we will continue to stand at the forefront of these regulatory changes.