Arsenal

What Arsenal does

Arsenal Insurance Management is a privately-held, independent captive insurance management firm founded in 2006 in Alabama (originally as Captive Insurance Management, rebranded to Arsenal Insurance Management in 2015) and operated as an LLC with no parent company. The firm provides end-to-end captive insurance services — captive structure and formation, ongoing program management, regulatory compliance, underwriting, claims management, fronting and reinsurance placement, and enrollment support — to mid-to-large enterprises, healthcare and employee benefits organizations, not-for-profits, and Risk Retention Groups. It also operates managed captive programs, notably Iron ReHealth (a health benefits captive partnered with VIVA Health serving over 450 Southeast companies) and Iron Re Dental, and offers the proprietary JMRT underwriting technology recognized in 2020 by the US Captive Awards.

Arsenal monetizes through professional and managed services on quote-based, multi-year contracts, with no publicly disclosed pricing tiers. Its go-to-market is direct, consultative B2B sales targeting organizations that need regulatory expertise and alternative risk transfer solutions; channel reach is augmented by speaking engagements and association participation across the captive industry. The firm is led by Founder and CEO Norman Chandler (primary author of the 2016 rewrite of the Alabama Captive Insurers Act, 2020 Power 50 honoree) and COO Justin Law, with CFO Andre Luiz Baldo and a leadership bench drawn from former regulators and TPA executives.

The company operates from nine locations — Montgomery and Birmingham (AL), Brentwood/Nashville (TN), Key Largo and Mary Esther (FL), Grapevine (TX), New York (NY), and Burlington (VT) — and holds a strategic partnership in the Cayman Islands, giving it a footprint across most top US captive domiciles plus a leading international domicile. Arsenal has received sustained industry recognition, including three 2020 US Captive Award category wins and an eighth consecutive shortlist for Captive Manager of the Year.

Name

Arsenal

Legal name

Arsenal Insurance Management LLC

Website

https://arsenalrmi.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

51–100 employees

Short description

Arsenal Insurance Management is an independent captive insurance management firm founded in 2006 in Alabama, serving mid-to-large enterprises, healthcare organizations, and not-for-profits with captive formation, regulatory compliance, underwriting, claims, and reinsurance services across multiple US states and the Cayman Islands.

Ownership category

akta.pro rank

Product category

Captive Insurance Management

NAICS

Other Insurance Related Activities (52429)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Captive Insurance Advisory & Management (FSAEADAF)

akta.pro secondary industry

Stop-Loss & Reinsurance Administration (Captive/Level-Funded Support) (HLAEALAB)

Keywords

• Captive insurance management
• Captive formation services
• Risk management consulting
• Employee benefits captive
• Reinsurance and fronting

Headquarters

HQ city

Montgomery

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Captive Management Services: Professional management fees for captive insurance company formation, licensing, management, regulatory compliance, underwriting, claims management, and enrollment services. Services include captive structure design, implementation, and ongoing consulting.
2. Consulting Services: Advisory services for risk management solutions, AM Best rating process management, TPA management, and conference/seminar training for insurance professionals.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Arsenal Insurance Management is an independent captive insurance management firm that helps organizations form, license, and manage captive insurance companies. Its core offerings include captive structure and formation, captive and program management, regulatory compliance, underwriting, claims management, and fronting/reinsurance/excess placements, supported by the proprietary JMRT underwriting technology. The firm also operates managed captive programs such as Iron ReHealth (health benefits) and Iron Re Dental (dental) and provides specialized captive solutions for healthcare, employee benefits, not-for-profit organizations, and Risk Retention Groups (RRGs) across top U.S. captive domiciles and the Cayman Islands.

Product overview

Arsenal Insurance Management is a captive insurance management firm offering a comprehensive suite of services for organizations seeking to form and manage captive insurance companies. The company provides both professional services and technology solutions, including the proprietary JMRT underwriting software. Their core offerings span captive formation and structure, program management, regulatory compliance, underwriting, claims management, and fronting/reinsurance placements. Arsenal specializes in serving captives across multiple U.S. domiciles (Alabama, Florida, Tennessee, Texas, Vermont, New York) and offers specialized programs for healthcare, employee benefits, and not-for-profit organizations. The company operates managed captive programs including Iron ReHealth for health insurance solutions.

Differentiator

Problem solved

Functional benefit

Products and services

• JMRT Proprietary in-house underwriting software that enhances the operational efficiency of captives and improves the quality and cost-effectiveness of placing risk in a captive; recognized with the 2020 Software Solution of the Year award.
• Captive Structure and Formation Professional services to help organizations develop captive insurance company business plans, choose captive domiciles, and navigate the captive formation process.
• Captive and Program Management Comprehensive management services for captive insurance companies including ongoing administration and operational support.
• Regulatory Compliance Services ensuring captives meet all regulatory requirements across various domiciles including state insurance regulations.
• Underwriting Services Expert underwriting support for captive insurance programs covering various risk types.
• Claims Management Claims handling and management services for captive insurance companies.
• Fronting, Reinsurance, and Excess Placements Arrangement of fronting carrier relationships, reinsurance coverage, and excess placements for captive programs.
• Iron ReHealth Arsenal-managed captive program specializing in health insurance solutions, providing health benefits and wellness programs for employers; serves over 450 companies across the Southeast Region through a partnership with VIVA Health.
• Iron Re Dental Wholly-owned subsidiary providing dental insurance services as a Third Party Administrator (TPA).
• Healthcare Captive Solutions Specialized captive solutions for healthcare organizations to manage employee benefits and healthcare risks.
• Employee Benefits Captive Solutions Self-insurance solutions for employee benefits including health plans, helping businesses manage healthcare costs under ACA requirements.
• Not-for-Profit Captive Solutions Captive insurance solutions tailored for non-profit organizations seeking member services and revenue supplementation.
• Risk Retention Group (RRG) Management Management services for Risk Retention Groups, a type of captive insurance structure.

Quantifiable outcome

• Premium stabilization over the long run
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Eight partnerships are on record, tiered minor and core.

• Alabama Property and Casualty Adjusters Association (APCAA)minorStrategic or Co-development Partner · 6 February 2020APCAA endorsed the ACA Risky Business Internship Program, developing the workforce of existing Property and Casualty Insurance Claims Adjusters through quality continuing insurance and legal education in Alabama.
• Appalachian Underwriters, Inc.minorStrategic or Co-development Partner · 27 January 2020Robert 'Bob' Arowood, President of Appalachian Underwriters, is a seasoned captive partner with Arsenal with nearly 30 years of insurance industry experience. They co-presented at the 2020 World Captive Forum on Digital Transformation of Captives.
• Troy UniversitycoreStrategic or Co-development Partner · 1 January 2020Arsenal partnered with Troy University's Dr. Edward Pappanastos as Scholar-in-Residence effective January 2020. Collaboration designed to build scholarship, engagement, and opportunities for both Troy University and Arsenal through strategic recruitment and educational initiatives to cultivate RMI students and increase awareness of risk management industry opportunities, including the ACA Risky Business Internship Program.
• Alabama Captive Insurance Association (ACA)coreStrategic or Co-development Partner · 1 January 2020Arsenal is a founding partner of ACA's Risky Business Internship Program, a unique 18-week program providing college students experience in multiple risk management environments including Arsenal, AMIC, and Alabama Department of Insurance. Arsenal's Justin Law serves as Managing Director of the program.
• VIVA HealthcoreStrategic or Co-development Partner · 1 January 2020Iron ReHealth, managed by Arsenal, established strategic partnership with VIVA Health, an affiliate of UAB Health System, to enhance options available to program participants. Through this partnership, Iron ReHealth provides health benefits to over 450 companies across the Southeast Region.
• Alabama Municipal Insurance Corporation (AMIC)minorStrategic or Co-development PartnerAMIC, a mutual insurance company owned by Alabama member municipalities, is a founding partner in the Risky Business Internship Program providing students exposure to traditional insurance company operations alongside Arsenal and AL DOI.
• Alabama Department of Insurance (AL DOI)minorStrategic or Co-development PartnerAL DOI, the regulatory authority for insurance in Alabama, is a founding partner in the Risky Business Internship Program providing students exposure to insurance regulation alongside Arsenal and AMIC.
• Cayman Islands Strategic PartnershipcoreOthersArsenal expanded geographic footprint by establishing strategic partnership in Cayman Islands, one of the world's leading captive domiciles, complementing their US office locations.

Scale indicators5 records

Recent moves10 records

Expansion highlights7 records

Direct peers

• Artex Risk Solutions: Artex is one of the world's largest independent captive management firms, with operations across the US and major international domiciles. Comparable to Arsenal in providing captive formation and ongoing management, but at materially larger scale and broader geographic footprint.
• RiverStone International: RiverStone provides legacy/captive management and run-off solutions for discontinued captive insurance entities. Comparable to Arsenal on the captive management side, with particular overlap in Arsenal's Legacy Solutions capability (2020 US Captive Award shortlist category).
• Captive Resources: Captive Resources provides consulting, formation, and management services for group captives primarily serving mid-market businesses. Comparable to Arsenal's mid-to-large enterprise captive management offering, though with a stronger group captive focus.
• Davies Group: Davies provides captive management, insurance consulting, and claims services across multiple US and international domiciles. Directly comparable to Arsenal's captive management offering, with similar mid-market focus and multi-domicile operations.
• Strategic Risk Solutions (SRS): SRS is a leading independent captive management firm offering formation, licensing, and ongoing management across US and international domiciles. Directly comparable to Arsenal as a competing independent captive manager with multi-domicile presence.
• Aon Insurance Managers: Aon's captive insurance management group operates across all major US and international captive domiciles, providing formation, regulatory, and ongoing management services—directly comparable to Arsenal's full-service captive management offering, though with broker-owned distribution advantages.
• Marsh Captive Solutions: Marsh's captive management arm is the largest independent captive management practice globally, offering captive formation, ongoing management, and consulting services across multiple domiciles—directly comparable to Arsenal's full-service captive management offering, though at materially larger scale.

Broad incumbents

• Willis Towers Watson Captive Solutions: WTW offers captive insurance advisory and management as part of its broader insurance and risk advisory practice. Comparable to Arsenal's captive formation and management services, but delivered as part of a much larger global risk consulting and brokerage portfolio.

Others

• Milliman: Milliman provides actuarial consulting and captive feasibility studies that often precede captive formation decisions. Comparable as an ecosystem participant that interacts with Arsenal's captive formation workflow, particularly for AM Best rating process management Arsenal offers.

Regional players

• Beecher Carlson: Beecher Carlson provides insurance and risk management services including captive consulting, with strong presence in the Southeast US market where Arsenal is headquartered. Comparable for captive advisory services but with a broader insurance brokerage focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/ArsenalRMI
• Facebookfacebook.com/ArsenalRMI
• LinkedInlinkedin.com/company/arsenalrmi

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Arsenal