News by sections

News by region
Issue archives
Archive section
Emerging talent
Emerging talent profiles
Domicile guidebook
Guidebook online
Search site
Features
Interviews
Domicile profiles
Generic business image for news article Image: Shutterstock

20 January 2017
Houston
Reporter Becky Butcher

Share this article





Texas to introduce a reinsurance structure

Texas has put forward a new captive bill, HB 1187, proposing the introduction of non-affiliated reinsurance, reciprocal captive structures in the state.

Giovanni Capriglione, a member of the Texas House of Representatives, filed the new captive bill on 19 January.

Under the proposed changes, a captive insurance company would be able to provide reinsurance to an insurer covering the operational risks of its affiliates, or risks of a controlled unaffiliated business that the captive insurance company may insure directly under Section 964.051.

In a recent interview, Josh Magden, president of the Texas Captive Insurance Association (TxCIA), said Texas wants more perspectives so that it can make well-informed decisions about what changes to make to legislation.

Magden said: “We want more specific perspectives, and need that support to articulate the benefit of certain legislative changes.”

The proposed date for the act to become effective is 1 September.

The bill is awaiting committee review.

Subscribe advert
Advertisement
Get in touch
News
More sections
Black Knight Media