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Captives enable users to take on more risk in a structured way that allows the organization to smoothen market cycles and potentially deliver some profit from better than expected loss experience. (Photo: PopTika/Shutterstock) Captives enable users to take on more risk in a structured way that allows the organization to smoothen market cycles and potentially deliver some profit. (Photo: PopTika/Shutterstock)

Editor’s Note: PropertyCasualty360.com is committed to providing our readers with the latest insurance news and information. To that end, we are now publishing select stories in both English and Spanish. To read this article in Spanish, please click here

It used to be that a captive — most commonly known as a wholly-owned and controlled entity whose purpose is to (re)insure its parent and subsidiaries — was considered a risk financing solution used mostly by larger companies whose unique risks were difficult or impossible to fully cover by traditional insurance means. Fortune 500 companies and large commercial accounts were dominating the captive space.

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