Captive Insurance Services
Captive insurance taxation, financial auditing, and consultation.
At HKG, LLP, we keep up-to-date on all new tax laws, regulations, and legislation from various captive jurisdictions. We are in a position to identify key risk management, tax, and audit planning opportunities that maximize the utilization of your captive insurance company. We provide our captive insurance clientele with the expertise and knowledge they deserve throughout the year.
Our captive insurance services include but are not limited to:
- Tax return compliance and preparation
- Financial audit compliance and issuance
- Consulting
- Exit strategies
- See additional information in the newsletter section.
Captive Audits
Midsized and large privately held companies are facing difficult times in relation to insurance costs and available coverage. More than 80% of Fortune 500 companies own a captive insurance company (captive). While captive insurance is an accepted risk management tool, many midsized and large privately held companies are uninformed about the benefits of a captive.
A captive insurance company is a premier insurance risk management and tax planning tool for businesses and their owners. A company needs to consider many factors when forming a captive, including a long-term horizon for the proper development and implementation of a captive program.
Our Captive Insurance Services Approach
At HKG, our team of tax professionals, audit professionals, and consultants have decades of experience in handling complex captive insurance accounting, auditing, and tax-related issues. The result is a team of experts who can assist with every question and need that relates to your captive insurance company. First, our team helps determine whether a captive insurance company is right for your business. Then, we walk you through the process of formation and assist with assembling the team of outside insurance professionals needed to run it. Our goal is to help you avoid the legal and tax pitfalls that can limit the effectiveness of a captive insurance company.
Benefits of a Captive:
- Improved risk management
- Risk retention
- Minimized insurance costs
- Asset protection/estate planning
- Retention of investment income
- Access to the reinsurance market
- Potential tax savings
Potential Captive Candidates:
- Health care providers
- Manufacturers and wholesale distributors
- Exporters and importers
- Construction-related industries
- Specialty medical providers
- Transportation/logistics companies
Our Captive Clients:
- Health care providers
- Food manufacturers
- Apparel manufacturers
- Bariatric surgeons
- Commercial property owners
- Hospitality (hotels)
- Employee leasing companies
HKG is an authorized auditor for Captive Insurance Companies in the following jurisdictions:
Domestic
| Arizona | Kentucky | New Jersey | The District of Columbia |
| Delaware | Montana | South Carolina | Utah |
| Hawaii | Nevada | Tennessee | Vermont |
International
| Anguilla | Nevis | Bahamas |
| British Virgin Islands | Puerto Rico | Turks & Caicos Islands |
We continue to add jurisdictions as needed to accommodate our growing client base.