MONTGOMERY, AL — June 18, 2019 — Arsenal was honored today with a shortlisting in a total of six categories in the US Captive Awards, being among the top in the nation. The six categories represent excellence by both Arsenal and captive programs managed by Arsenal.
The US Captive Awards are organized by Captive Review magazine and are highly respected within the captive insurance industry.
“Arsenal is extremely honored to be recognized with six shortlistings in the US Captive Awards. Arsenal’s past year was marked by a ground-breaking health insurance option for small businesses, the first insurtechrider share captive, and expansion of our fronting services.”
This also marks the sixth consecutive year that Arsenal has been shortlisted for the Captive Manager of the Year award. This category is for captive managers that have underwritten less than $1billion of gross written premium in the last 12 months. Firms are judged on their growth by revenue, client numbers, service offering and client satisfaction. Captive owner judges consider the implementation of technology, accessibility for clients and initiatives developed in selecting firms for this category.
In addition, Arsenal was named to the Employee Benefits Specialist list for the first time. Those shortlisted in this category are judged on their specialist knowledge of employee benefits, allowing them to provide bespoke programs to captive owners. Customer satisfaction and retention are also taken into account.
Arsenal President Norman Chandler was shortlisted for Captive Service Professionalfor the second time. An industry-judging panel makes its selection based on innovation and a strong commitment to the US captive insurance market.
Iron Reinsurance Company, Inc. (Iron Re), managed by Arsenal, was shortlisted in the Fronting Partner category for the first time. This category contains insurance companies providing fronting services to US captives. Captive owner judges evaluate specific cases of tailored fronting programs, allowing a captive to run an efficient, unique global operation. This category highlights initiatives that set fronting companies apart from competitors.
Iron Re was also shortlisted for the first time in the (Re)Insurance Company category. This category applies to insurance and reinsurance companies providing services to US-owned captives. Firms are judged on displaying a dedication to clients through a wide range of services as well as the ability to solve complex problems. Attributes that set a company apart from its peers are also part of the deliberations of the captive owner judging panel.
The Partnership Award: Innovative ART Structure/New Risk Placement category contains an Arsenal managed captive owned by Hyrecar, Inc. for the first rider share captive in the in US. This category contains programs that have worked to design, deliver and implement an innovative alternative risk transfer structure which displays a creative design while ensuring an effective insurance cover. Evidence of increased efficiency and profitability are factors in the judging.
The Captive Awards return to the US for the 8th year to recognize and reward those providers of captive insurance products and services who have outperformed their competitors and demonstrated the highest levels of excellence over the past 12 months.
The US Captive Awards ceremony will be held on Monday, August 5, 2019 at the Hilton Burlington, Vermont.
About Arsenal Insurance Management LLC
Founded in 2006, Arsenal is nationally recognized as a leader in the captive industry. In 2016, Arsenal was named Independent Captive Manager of the Year in the US Captive Awards and has been shortlisted in this category for six consecutive years. Arsenal delivers broad customer solutions in risk management for captives, mutuals, RRGs, and other insurance entities through office locations in Alabama, Georgia, Florida, Tennessee, and Texas.