☰A captive manager operates the insurance company you own. The role spans nine specialized trades: captive management, accounting, actuarial, legal & tax, fronting & reinsurance, claims, investments, advisory, and regulatory compliance. The manager also runs the calendar those trades share, from policy issuance through the annual audit, and prepares the reporting your board and regulator rely on. You set the strategy and own the results; the manager makes the machine run.
The range in the role is wide, and it is worth knowing before you pick one. At one end, management is administration: filings made, reports sent, questions answered when asked. At the other, the manager treats the captive as an asset with performance expectations, bringing forward opportunities on retention, coverage, and capital rather than waiting to be asked. Luzern built its model for the second definition, with a dedicated Client Advisor coordinating all nine trades on one platform. As for whether you need one: most domiciles require or expect a licensed captive manager on the program, so the practical question is which one, not whether.