There are a variety of reasons for forming captives. In this podcast, Frank Strenk, Senior Vice President of Risk Management and Mark Morris, Vice President, Lockton Companies share insights on what to take into account when considering forming a captive. They explore the role of captives and expanded use in today’s changing markets.
Speakers
Mark Morris
Mark E. Morris is Senior Vice President at Lockton Companies in Kansas City, Missouri. Mark works in Lockton's Risk Finance and Captive Practice group and has been involved in more than 80 captive feasibility studies over the prior three years. Mark has assisted in formations and worked with existing captives in Bermuda, Guernsey, Cayman, Vermont, South Carolina, Arizona and Hawaii.
As a risk finance consultant, Mark assists clients in determining the risk-financing alternative that is most closely aligned with the organization's financial, tax and operational objectives. This process includes all phases of program development including loss and retention analysis as well as final program design and implementation.
Prior to joining Lockton, Mark was a Senior Accountant with a St. Louis public accounting firm where he specialized in tax review, tax consulting and estate planning. Mark holds a BS in Accountancy and a BS in Business Administration from the University of Missouri - Columbia.
Frank Stren
Frank W. Strenk is Senior Vice President of Risk Management for Lockton Companies in Chicago, the largest independent insurance broker in the United States, with over 1,300 associates. Frank has 25 years of experience in the insurance industry and is responsible for the delivery of risk management services to Lockton clients, including loss and exposure analysis, risk strategy development, risk financing program design and implementation. In addition, Frank is a member of Lockton's captive insurance practice and leads Lockton's effort in the Enterprise Risk arena.
Prior to joining Lockton, Frank was Senior Manager with Bearing Point (formerly KPMG Consulting), where he led consulting engagements in the firm's insurance segment. Frank also spent time with a major insurance broker in the risk management consulting area, providing a wide array of analytical services including captive feasibility studies and formations. Additionally, he co-led a risk strategy consulting practice for a major international consulting firm.
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