Astra Captive Management Targets Broker Partnerships in SME Sector
Astra Captive Management (Cook Islands) Ltd has secured formal authorisation from the Cook Islands Financial Services Commission to operate as a licensed captive insurance manager. This development aligns with the rising interest in non-traditional risk financing methods across the Asia-Pacific region.
The newly issued licence enables Astra Captive to assist insurance brokers and corporate clients with establishing and managing captive insurance entities within the Cook Islands’ regulatory environment. The jurisdiction maintains close financial ties with New Zealand and Australia and is recognised for its legislative stability and support for alternative risk strategies.
Dean Spense, chief executive of Astra Captive Management, stated that the firm is prioritising partnerships with brokers to make captive insurance more accessible to smaller and mid-tier intermediaries. “As a licensed provider, we are now fully authorised to assist businesses and their broker partners in setting up and managing captive insurance entities here with confidence, compliance, and efficiency,” he said.
Astra’s management platform offers services including captive formation, licensing support, regulatory reporting, and access to actuarial and reinsurance expertise through third-party partnerships. White-labelling options are also available for brokers and managing general agents.
The company’s strategy focuses on reducing barriers to entry for intermediaries lacking the internal capacity to operate captive solutions independently. “While large corporations and consultants have long accessed the benefits of captives, many brokers are left on the sidelines, lacking the internal resources, licensing, or regulatory relationships to offer captive solutions to their clients. We want to change that,” Spense explained.
The timing of Astra’s launch coincides with a surge in corporate interest in risk management alternatives. Allianz’s 2025 Risk Barometer identified cyber threats as the most pressing global business risk, surpassing concerns related to business interruption and extreme weather events. Climate-related risks ranked fifth globally, their highest position since the report began.
Allianz Trade projects that global business failures will rise by 6% in 2025, followed by another 3% increase in 2026, marking the fifth consecutive year of rising insolvencies. New Zealand recorded a 40% increase in business closures in 2024, while other Asia-Pacific jurisdictions such as Australia, Singapore, and Hong Kong saw double-digit growth in insolvency filings.
Looking ahead, Astra Captive plans to implement educational initiatives for brokers and risk advisors and develop cross-border partnerships to expand the use of captives as strategic insurance vehicles. Spense emphasised the company’s commitment to enabling brokers to present captive solutions as part of a broader risk advisory strategy: “We’re committed to not only managing captives but also educating and enabling brokers to confidently present these solutions to their clients.”
