Types of Captives

The most common types of Captive in Cayman are:

1. Association Captive – insures the risks of the members of a trade or other association.
2. Single Captive – insures only its parent or associated companies’ risks.
3. Group Captive – insures the risks of a group of companies that may not be associated with each other.
4. SPC or ICC Captive – special types of company which do not take on the risk themselves, but instead form individual ‘cells’.  These structures are often used where an organisation might not be large enough to justify establishing its own fully-fledged captive, since each cell’s assets and liabilities are segregated from other cells and each cell can insure different risks.