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  • Writer's picturePoevai Garnier

Lockton NZ - Providing Solutions to Insurance Needs through Cook Islands Companies

With the world becoming progressively interconnected and international trade becoming the norm, the global risk landscape is expanding. Lockton Companies Inc. has positioned itself in this landscape as a global risk management partner of choice; serving clients in more than 100 countries worldwide with a range of solutions in risk management, insurance, and employee benefits.

Lockton Companies Inc. is the largest privately held, independent insurance brokerage firm in the world. It recently opened its operation to New Zealand; Lockton Companies NZ Limited Partnership (“Lockton NZ”). Lockton NZ is experienced in all facets of risk and insurance across a diverse range of specialisms, territories and industries and it also provides tailored solutions to insurance needs in the Cook Islands with captive insurance companies.

The Cook Islands has been providing captive insurance services since 2013 and is establishing itself as a respected jurisdiction for captive insurance. Benefits of establishing these structures in the Cook Islands include:

- Its modern, practical legislation and regulations.

- The reputable and knowledgeable professional service providers.

- The courts are recognised for respecting the rule of law (with judges from NZ).

- The sensible regulation of financial services providers and their businesses.

The CEO of Cook Islands Finance, Marie Francis recently met with Lockton NZ representatives Jessica Schade and Ged McCombie. “We are thrilled that Lockton NZ has been approved as a licensed external captive insurance manager and is establishing captive insurance structures with Cook Islands international companies. The Cook Islands has an excellent reputation for its international compliance and professional services. In these uncertain times it is advantageous for New Zealand and Australian clients to establish captive insurance structures in a nearby jurisdiction which has a close association with NZ.”

Jessica Schade is Head of Captive & Alternative Risk Transfer for Lockton NZ. Jessica has been involved in establishing and licencing all the captives currently registered in the Cook Islands. She noted “I have worked with the Cook Islands Government for a number of years and have always been impressed with their willingness to work with business, insurance experts and interested parties in crafting best in class captive legislation and a world class captive insurance domicile. It gives me confidence in their commitment to the captive insurance industry and the business needs of New Zealand, Australian and Asian companies”.

Ged McCombie is Head of Pacific for Lockton NZ. For the past 40 years Ged has provided client-focused broking services to a wide range of business sectors and will provide the full strength of Lockton’s risk solution capabilities to clients in the Pacific.

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202109-Lockton NZ
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