Flagstone International has expanded into the captive insurance sector by allowing clients of one of the sector’s firms access to its market-leading cash deposit platform.
Flagstone International (FIL) launched last year in Jersey, providing its services to the trust sector. The platform allows trusts, funds, companies, and high net worth individuals to manage their cash deposits across multiple banks and jurisdictions using a single account.
As part of FIL’s first steps into the captive insurance sector, it has given access to the European clients of Strategic Risk Solutions (SRS), a global independent provider of captive consulting and management services for the captive industry, access to the platform.
The move into the captive space is a natural next step for FIL, given its platform is already widely available through a range of distributors such as trust companies, private banks, wealth managers and family offices.
Damian Cocking (pictured), Head of Sales at Flagstone International commented: “Having made great strides within the trust space, we recognised similar issues were arising for managers of captive insurance structures – both standalone and cell structures – which made this a logical next step for Flagstone International.
“We are very excited to be launching into the captive space and we look forward to rolling out our platform to other leading firms in this area of the market in the not-too-distant future.”
Peter Child, CEO at SRS Europe commented: “SRS provides our clients with the most innovative options when it comes to using their captive to better their business. When Flagstone International first came to me with this idea I thought it was an interesting option to ensure our clients can continue to manage cash deposits with ease.”
