About Berrizal Partners

We advise organisations with complex risk profiles and more than €500k of annual insurance premium spend on how to optimise insurance cost, volatility, and capital—using captives and reinsurance structures.

Practical, implementation-aware, and designed for CFOs, CROs, Treasurers, and boards.

Client profile

For groups where insurance is a material financial line.

Captives are not “risk management projects.” They are balance-sheet and governance decisions. We work with groups where insurance programmes, retentions, collateral, and claims volatility meaningfully impact margins and capital allocation.

Typical signals of fit
  • ■€500k+ annual premium spend across property, liability, specialty, credit, or surety.
  • ■Significant deductibles/retentions, captive ambition, or renewal volatility.
  • ■Complex multi-country programmes, fronting and collateral structures.
  • ■Board-level scrutiny: “Why do we own this structure?” or “What is the ROI?”
What we do

Full captive advisory scope—end-to-end.

Our scope is designed to match how captive decisions actually happen: feasibility, structuring, formation, implementation coordination, and ongoing optimisation.

We can operate as the client’s lead architect, or as a specialist layer working alongside brokers, captive managers, auditors, legal, and tax advisors.

Core service lines
Feasibility & business case
TCOR view, retention strategy, economic case, governance readiness.
Captive formation & licensing
Domicile selection, operating model, regulator-ready documentation (with counsel).
Reinsurance & programme design
Quota share / XoL design, fronting structures, collateral economics.
Ongoing optimisation
Captive health checks, redesign, expansion, re-domiciliation support.
Governance & board reporting
Decision memos, KPIs, underwriting policy, risk appetite, audit committee materials.
Implementation coordination
Workplans and partner alignment across brokers, managers, auditors, and lawyers.

Some activities may require regulated parties (broker, manager, legal, tax). We integrate with them and define clean scopes and accountability.

Team

Complementary expertise across actuarial, credit, and captive governance.

Our team combines actuarial structuring, trade credit & surety depth, and captive CEO-level operating experience— built for complex reinsurance captive use cases.

Actuarial
Risk & pricing architecture
Feasibility, loss modelling, reinsurance design, economic trade-offs.
Credit & Surety
Trade credit structuring
Fronting, collateral mechanics, capacity constraints, portfolio economics.
Captive CEO
Governance & operations
Board processes, capital planning, regulatory expectations, execution reality.
How we work

Clear scope. Board-ready outputs. Implementation-aware recommendations. We coordinate with your existing partners and bring accountability to the economics.

Considering a captive—or trying to extract more value from an existing one?

If your group spends €500k+ annually on insurance, we can help define a clear path to improved risk economics and governance.

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