The Baldwin Group has introduced Azimuth Re, a member-owned group captive created with Innovative Captive Strategies for its construction sector clients.
The new vehicle is intended for contractors that want more control and longer-term consistency in their approach to risk.
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Under the structure, participating companies are placed within one underwriting framework, allowing them to pool risk, increase scale and potentially share in underwriting gains when performance is favourable.
Azimuth is aimed at construction businesses with annual workers’ compensation, general liability and motor premium payments of at least $250,000.
The arrangement carries a $350,000 captive retention and is structured to link member interests with safety results and longer-term financial performance.
The company said the programme is suited to contractors focused on employee safety and seeking more consistency and visibility in their insurance arrangements.
Baldwin Group senior partner Greg Deems said: “What makes Azimuth different is its model of collective responsibility. All members operate under a single broker model and a shared, disciplined risk lens. But we go beyond placing coverage – our construction experts help guide member selection, risk strategy and long-term performance to protect the strength of the group.
“That shared accountability drives stronger, more sustainable results. This isn’t going to be our only captive solution where we put any client that is looking for the captive model. It is going to be a place for our like-minded top performers to outpace the market while being on the vanguard of creativity in structure and return.”
Separately, in January, the Baldwin Group completed its merger with middle-market insurance brokerage CAC Group for an upfront consideration of $1.03bn.
The transaction is expected to enhance Baldwin’s Insurance Advisory Solutions division through CAC’s expertise in sectors such as construction, education, natural resources, private equity, real estate and senior living.
