Business Services Industry
Cash flow, other advantages seen in funding benefits through captive.(captive insurance companies)
Business Insurance, November, 2005 by Geisel, Jerry
Byline: JERRY GEISEL AVENTURA, Fla.-The biggest advantage of funding employee benefit risks through a captive insurance company is improved cash flow, say corporate financial executives. "It was cash flow, cash flow and cash flow,'' according to Greg Davies, executive director and treasurer at AstraZeneca Pharmaceuticals L.P., that was the main driver behind the company deciding to seek permission to fund benefit risks through a Vermont captive.
The Wilmington, Del.-based unit and another U.S. affiliate of U.K. pharmaceutical giant AstraZeneca P.L.C. sought permission from the U.S. Department of Labor last month. Speaking earlier this month at the 15th annual World Captive Forum in Aventura, Fla., Mr. Davies noted that there can be significant cash flow...
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