| Summary: | ABSTRACT
Captive Insurance, a technique for internal risk financing is an insurance
company that only insures all or part of the risk of its parent company. (Kloman et al, 1982)
It is one such area in the field of risk financing which has always remained
undercover due to the complexity attached in the form of sensitivity in information
disclosure and confidentiality of data. So the objective of this dissertation is to
examine the captive insurance industry, with a special focus on its five major
domiciles - Bermuda, Cayman Islands, Vermont, British Virgin Islands and
Guernsey, their structure and their recent trends and developments.
Various research and data collection techniques have been used to perform the
research in the field of captive insurance industry and more precisely its five
major domiciles. The dissertation begins with a literature review providing an
insight of what the previous researchers have explored in the captive insurance
field of risk financing. It is followed by a research methodology that has been
structured so as to carry out the research in an efficient manner.
Examining the overall captive market indicated that captive insurance market is
governed by five of its major domiciles Bermuda, Cayman Islands, Vermont,
British Virgin Islands and Guernsey, with Bermuda being the main choice of
domicile. So the main focus of this dissertation is to examine the structure, and
trends & developments of these five domiciles.
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