Pinnacle Actuarial Resources has acquired Bermuda-based Ordinance Holdings and the renewal rights for clients of Canadian firm Grape Bay Actuarial Consulting, effective June 30, 2026.
Ordinance, headquartered in Hamilton, Bermuda, provides actuarial consulting services to insurance, reinsurance, captive insurance and segregated accounts companies. Grape Bay, on the other hand, serves insurance, reinsurance and captive insurance companies in Canada.
Julie Perron, president of both firms, will continue to serve former clients as an independent contractor with Pinnacle, remaining based in Canada. Grape Bay clients will become part of Pinnacle Actuarial Resources of Canada, the firm's recently formed Canadian subsidiary.
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Perron brings more than 25 years of actuarial experience, with extensive expertise in captive insurance, loss reserving, pricing and the structuring of reinsurance programs.
"This acquisition will increase Pinnacle's international presence and enhance the services we provide our clients in Bermuda and Canada," said Roosevelt Mosley, managing principal of Pinnacle. "It will also expand and deepen the expertise, market knowledge, capabilities and scale of service for clients of Ordinance and Grape Bay."
Pinnacle is an independent, staff-owned actuarial firm headquartered in Bloomington, Illinois, with additional offices in Atlanta, Chicago and San Francisco.
The firm has served clients continuously since 1986, with a focus on alternative markets, loss reserving, predictive analytics, pricing and product management, and audit and litigation support across the property and casualty insurance industry. It already holds a leading position as an actuarial advisor to captive insurance companies in Bermuda, making the Ordinance acquisition a deepening of existing market presence rather than a new entry.
"The global property and casualty insurance industry continues to grow, and this acquisition will strengthen Pinnacle's position for captive insurance, traditional insurance and reinsurance in two key regions," said Robert Walling, Pinnacle principal and consulting actuary.
The Grape Bay acquisition is particularly timely given the rapid development of Canada's domestic captive insurance sector.
Since July 1, 2022, Canadian companies have been able to form captive insurance companies domiciled in Alberta, giving them a second Canadian onshore option alongside British Columbia, which has had captive legislation for over 35 years. British Columbia is home to over 30 captives, while Alberta has quickly become a growing captive hub since its legislation came into force.
Alberta's regulatory framework has been actively refined to support that growth. In November 2025, Alberta's Superintendent of Insurance updated two guidelines governing captive insurers, covering capital requirements and the licensing process for association captives, signaling growing regulatory sophistication as interest in association captives continues to rise.
Alberta is projected to grow to 210 captives by 2033, up from 20 licensed captives as of July 2024, and captive experts note that for companies with solely Canadian operations, Alberta provides an onshore option that can offer advantages over offshore domiciles, including lower administrative costs and easier board engagement.
That domestic growth creates directly expanding demand for Canadian-based actuarial services. Every captive formation requires actuarial support: feasibility analyses, loss reserve opinions, pricing studies and ongoing program monitoring.
