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Featured on Captive Insurance Times
Turbulent times
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Attendees of the European Insurance Forum in Dublin heard how insurance and reinsurance professionals are readying for turbulent times ahead
Risk management with interest
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Interest in forming new captives and protected cell companies is on the rise, according to the latest Aon Global Risk Management Survey
A noughties hit
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SACs in Bermuda, first crafted in the statute in 2000, are a useful tool for both captive and commercial insurers, says Kim Willey of ASW Law
Do you want to be effective, or do you just want to follow the rules?
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Rule-focused decisions have kept captives from delivering full value, say Carrie Lam and Steve Prince of Collins Barrow
Change the game
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Attendees of this year’s European Insurance Forum can expect a full and comprehensive agenda. Eddy Van Cutsem explains
A cut above
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Richard Paris-Smith of Willis Towers Watson explains how the UK’s recent changes to the Ogden discount rate will affect captive insurers
Power to the brand
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Reputation insurance is an important part of any company’s risk management strategy, according to Dr Nir Kossovsky of Steel City Re
Going through charges
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Having the ability to stabilise regulatory and fiscal certainty through self-funding will continue to drive expansion of the self-insured and medical stop-loss captive markets, says Phillip Giles of QBE North America
Mikhail Raybshteyn, Ann Cammack and Paul H Phillips III of EY break down the controversial notice as the 1 May deadline for reporting the latest transaction of interest rapidly approaches
Cyber security regulations: The shape of things to come for captives?
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In an environment of technological threats, cyber security is moving up the captive agenda, say EY Bermuda’s Daniel Message, Kerr Kennedy and Chris Maiato
Coming up captives
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Disruption was the theme of the recent CICA International Conference in San Diego, where a new president was welcomed, the next generation of professionals was groomed and a regulatory shake up was previewed
A healthy option
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As small US businesses are faced with increasing healthcare costs, Holmes Murphy has created a captive to give them something back. Beau Reid explains
Can a captive $ave us from ourselves?
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With a solid enterprise risk management strategy, a captive can increase in value and reputation, says Michael Zuckerman of Temple University
Take notice
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The IRS labelled micro captives as ‘transactions of interest’ last year. Alan Fine of Brown Smith Wallace outlines who is involved and what is required
What’s in YOUR risk budget ?
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The risks of a captive insurer’s operations tend to be narrower and less diversified than those of typical multi-line insurers, but, according to Anjanette Fowler of Madison Scottsdale, this can be a double-edged sword
Latin America: Time for a captive boom?
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Regulatory reforms are sweeping Latin America and, according to Daniel Message and James Bulkowski of EY, they are changing the insurance industry in the process
Laser precision
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They may be little understood, but medical stop-loss lasers are most likely here to stay. Phillip Giles of QBE NA demystifies the method
Finance with benefits
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HR departments must have an oversight—and an understanding—of what’s going on in the employee benefits captive, says Ciaran Healy of Willis Towers Watson
Risk, regs and the IRS
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In an ever-changing, and oft-surprising, environment it can be difficult to predict what’s around the corner. Beecher Carlson’s Jason Flaxbeard takes a tentative look at what the captive world can expect from 2017
The earlier, the better
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When deciding whether to form a captive, risk coverage should come first, financial benefits second, according to Steven Lonergan of Capstone Associated Services
US tax reform: Returning captive focus to risk?
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Changes to the US Tax Code should not distract from the fact that the principles of risk financing and the use of captive insurance remain critical to any programme, says Adam Forstot of USA Risk Group
The case against the cell
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Stewart Feldman of Capstone Associated Services suggests it may be time to examine your LLC, PCC, series or cell planning, and consider returning to a traditional captive arrangement
Icing on the cake
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In captive insurance, tax is no longer the cake itself, but the cherry on top. Birte Fehse and Praveen Sharma of Marsh explain
Better than you thought
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A captive insurance entity is capable of more than many would expect, according to John Thomson of HAI Group
High ho: It's off to work they go
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Attendees of the European Captive Forum heard about the many challenges facing the captive insurance industry, but associations suggested working together could allow tools and resources to be shared to overcome them
Destined for greatness
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A well-managed captive can add to the stability of a company, and help it develop beyond even its own expectations, says John Thomson of HAI Group
Together we care
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Attendees of the 2016 GEB Forum are invited to share insights on major trends and challenges in employee benefits, says Simona Frisoli of GEB
Diversify and prosper
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As the Cayman Islands continues to expand its footprint, Kieran O’Mahony explains why Canada is an unrivalled opportunity for captive business
Hedging your BEPS
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BEPS is a challenge to the captive insurance industry, but as Ciaran Healy of Willis Towers Watson explains, captive insurers and their managers can turn it into an opportunity
Feel the force
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Dominic Wheatley of Guernsey Finance discusses how the island remains a dominant player in captive insurance
A primer on ERISA preemption
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The biggest challenge is orientating risk managers and benefits managers to the intricacies of each other’s business segments as self-funding and using captives for medical stop-loss continues to expand, says Phillip Giles of QBE North America
The sound of the CIMA
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Hiring a new head of insurance supervision will improve communication and collaborative relations between CIMA and its licensees, the authority says
Hidden costs of lazy data
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Jacqui Kipfer of Bespoke Software suggests that masters of the data-verse are able to enjoy a competitive edge
The captive centerpiece
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After recent developments and growth in the Bermuda reinsurance market, Jason Flaxbeard of Beecher Carlson explains how captives might take advantage in the future
Compliance considerations
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Alan Fine of Brown Smith Wallace explains three key options to maintain compliance with changes to Section 831(b)
Innovation and opportunity
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Attendees at this year’s Guernsey Insurance Forum heard how Guernsey is positioning itself as a ‘significant player’ in the international insurance community
Six and two threes
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An increasing regulatory burden means corporates are weighing up the gross premiums of their captives against the ease of managing them. José Ramón Morales of XL Catlin considers the options
I’ve got cells, they’re multiplying
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FERMA conference attendees heard how the implementation of protected cell company legislation has helped with innovation in Malta
A new take on claims management
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Captives and risk managers need to be in control of their claims processes and information flows, according to Gwenny Nales of Van Ameyde
The end of the beginning
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It’s time the industry came together to form an effective, united and coordinated response to the many challenges and threats it faces, says Malcolm Cutts-Watson
Natural neighbours
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The Pacific Catastrophe Risk Insurance Facility Act provides insurance coverage benefits and enhances opportunities in the region, says Tamatoa Jonassen
Misperceptions add costs to captives
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It is disappointing when measures that result from misperceptions add to the administrative costs of operating a captive, says FERMA’s Jo Willaert
Credit where it’s due
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As more employers look to incorporate captives into their risk and benefits management strategies, an understanding of collateralisation will become increasingly important, according to Phillip Giles of QBE North America
Setting the foundations
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China is looking to stretch the boundaries of captive insurance strategies, according to Dominic Wheatley of Guernsey Finance
It’s showtime
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Burlington received the Hollywood treatment as the stars of captive insurance descended on the 35th VCIA conference, to talk cyber, US group captives, and more, and celebrate some lifetime achievements while they were at it
A captive audience
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David Provost’s hot topics panel at the VCIA conference earlier in August considered why captives may redomesticate, and why RRGs need to built from the core up
Taking centre stage
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The Asia Pacific is opening up to insurance, but it’s China that’s grabbing the headlines
Dip your toe into the risk pool
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Karl Huish and TJ Scherer discuss how Artex’s pooling mechanism allows middle-market businesses to share their workers’ compensation risks
Beyond the bottom line
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Captive insurance models in healthcare can help to drive quality and safety improvements, says Eric Dethlefs of Cassatt Insured Group
There is no golden panacea for cyber crime
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Over the last few years there has been a surge in cyber crime activity. Marco Gercke and Peter Hacker explain what boards and key decision makers can do to fight back
It’s a waiting game
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Now the UK has voted to leave the EU, industry experts explain how Brexit might affect captive insurance in the UK, Gibraltar, and elsewhere, and what will become of the Solvency II regime
Upping the ante
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Bermuda is continuing to up its game with the implementation of a new e-filing system and introduction of an insurance managers’ regime, Bermuda Captive Conference attendees heard
Risk up an ILS treat
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The UK wants a slice of the ILS pie, but it’s going to need a bigger fork if it’s going to compete with the more established domiciles
Dotting your LOCs
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Martin Ellis of Comerica Bank explains how letters of credit function, and what each party requires from the process
Practice what they breach
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Captives seem unlikely to be well positioned to provide a fully integrated solution for cyber in the near term, according to Peter Mullen of Aon Risk Solutions and Alec Cramsie of Beazley
Better together than apart
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With its acquisition of Cedar Management and Consulting, Citadel Risk has become a fully capable captive manager. Mike Palmer and Dennis Silvia explain how a one-stop-shop makes their business a top pick
The more things change
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Attendees of RiskMinds 2016 in Amsterdam heard why nothing ever stays the same in risk management and insurance—disruption is, and always has been, the name of the game
Airmic 2016: the principles of risk
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Captive professionals can expect much from Airmic 2016
Dublin our efforts
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It might take a bit of hard graft, but the future looks good for the captive industry, heard attendees of Dublin’s European Insurance Forum
Bigger is always braver
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Captives are expanding their horizons like never before, heard attendees of the CICA International Conference in Scottsdale, Arizona
Licensing me softly
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The prolonged soft market aside, captives aren’t doing too badly right now
Finally, practical guidelines for the supervision of captives
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The new IAIS paper recognises and describes the unique nature and risks of various types of captives, says Alice Kane of Duane Morris
Think Big
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CICA’s Dennis Harwick and Michael Bemi reveal what attendees can expect from the upcoming conference in Scottsdale, Arizona
Imitation is the greatest form of flattery
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Competition keeps domiciles on their toes, says Melisa Johnson of AMS Insurance
Protecting your human resources
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Using captives for employee benefits delivers major advantages to companies and workers, says John Miskel of Zurich Global Life, North America
Profit shifting crackdown: captives in the crosshairs
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A new international framework is targeting tax avoidance—and it has implications for captive insurers. Jenny Coletta of Ernst & Young explains
Safety by the numbers
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Using safety management will pay you more dividends as your programme matures by preventing losses and minimising the impact of losses that do occur, says George Gibson of Charles Taylor Safety Management Services
Navigating diverted profits tax
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Matthew Fountain of AIG discusses the UK’s diverted profits tax
Crystal Clear
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There are many advantages to domiciling in the Bahamas. Aliya Allen of the Bahamas Financial Services Board explains
Seeking certainty in uncertain times
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For captives, aggregate stop-loss programmes can deliver a greater degree of financial certainty in an increasingly volatile risk environment, says Todd Cunningham of Zurich Global Corporate in North America...
Stronger together, but different apart
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Joining a group captive can be a rewarding decision, but it’s not one to be entered into lightly, says Brenda Pickering of USA Risk Group (BVI)
A ‘growth industry’ for captive insurance?
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Certain insurers are shying away from the legal marijuana industry, leaving a gap that could be filled by captives. Michael Schroeder of Roundstone Management examines the issues surrounding this controversial topic
It was Wayne Gretzky who said a good hockey player plays where the puck is, but a great player plays where the puck is going to be. The same applies to cyber risk, says Frederick Turner of Active Captive Management
New horizons
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Vanuatu is a friendly jurisdiction willing and ready to do business, according to Kevin Lindsay, chairman of the Vanuatu captive insurance association
Everything the captive needs
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Angling to find the right domicile? Try Missouri, says Maria Sheffield, who is the captive programme manager at the state’s insurance department
Captives: an alternative for managing cyber risk
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Belen Navarro and Ross Connell of AIG discuss why insureds might consider utilising a captive insurance programme to address cyber risk
VCIA: risks and regulations run rife
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Cyber risk, the tax treatment of 831(b) captives, the National Association of Insurance Commissioners and the Risk Retention Act were the hottest topics at this year’s Vermont Captive Insurance Association Annual Conference
Entrepreneurial thinking: the profit centre captive
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An increasing number of small and large businesses are looking at profit centre captives as a means of profiting from risk, says Brian Flinchum of Atlas Insurance Management (The Bahamas Financial Services Board)
Risky misconceptions
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Understanding the pitfalls is the first step in avoiding them, according to Matt Hayner and Paul Lefurgey of Madison Scottsdale
Going beyond risk mitigation: exploring captive insurance
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Risk mitigation and alternative risk management strategies equate to smart decision-making, say Megan Brooks and Lance McNeel of Capstone Associated Services
Bending the trend: the effects on self-funded plans
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Increased cost sharing to foster better consumerism, more efficient plan design, alternative treatment venues and greater use of technology and data can empower a self-insured health plan. Phillip Giles of QBE North America explains
Are health networks going to Jurassic Park?
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The removal of an unnecessary intermediary fee is good news for those interested in creating a more cost-effective healthcare delivery system, says Michael Schroeder of Roundstone
Consistency conundrums
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Uncertainty is constant in the capital markets, but as we move through 2015, with the potential for greater volatility than normal, the need for a disciplined and consistent investment approach is crucial, say James Walter and Sukhi Singh of Comerica Bank
We can work it out
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The biggest names in risk management met in Liverpool to discuss the state of the industry, and the mood could not have been more encouraging
Train Canada
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Captive conferences educate and inform in equal amounts. The Captives & Corporate Strategies Summit in Toronto did its bit to teach the industry...
Tax-i for captives
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Although the IRS is bent on combatting perceived abuses of micro captives, the US government would be better served treating the cause rather than the symptom, say Richard Euliss and Whitney Fore of Carlton Fields Jorden Burt
Breaking down barriers
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Gus Frangi of AMS Insurance gives an in-depth introduction to the complex and oft misunderstood world of Tax Information Exchange Agreements...
Start up and go
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Gibraltar is the domicile of choice for many start-ups. Steven Lawler of Aon Insurance Managers explains why this is the case
Locally addicted to change
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Significant developments within the sector in Gibraltar and Europe may have a lasting impact, says Steve Quinn of Quest Insurance Management...
The pick of the bunch
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As one of only two domiciles that can offer both EU solvency standards and PCC cell solutions, Gibraltar prides itself on acting as the low-cost solution. Aon’s James Clayton-Wright reports
Don’t tread on me
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Since the summer of 2014, captives’ membership of the FHLB has been a contentious issue. Interested parties have been putting their comments forward until January this year, and the results are in
The year of the insurance-linked security
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With year-end results season in full swing, it is always interesting when one of the more established domiciles is able to come up with a surprise. In Bermuda it seems 2014 was most definitely the year of the ILS
More than just a bond du jour
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Jason Loffredo of Comerica Bank outlines what captives should consider when choosing a financial consultant
Coming next
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Tom Stokes of JLT Insurance Management Limited offers predictions for the captive insurance industry in 2015
Claims and captives: getting it right matters
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Claims are at the very core of a captive programme, so having the right claim partner is essential to success. Donna Kreitman of AIG explains the important factors to consider when choosing one...
The new gold standard?
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The Bahamas sets itself apart from other captive domiciles, as Peter Strauss of The Strauss Law Firm explains
Friends of the court
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Recent cases have proven that it is critical that captives are organised in jurisdictions where there is an appropriate level of regulation, according to Alan Fine of Brown Smith Wallace...
Solvency modernisation and the management of risk
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Insurance supervisors need to work with present supervisory systems rather than thinking new globalised standards can be used to dramatically reshape those established under existing law, say Missouri Department of Insurance 's John Huff and Maria Sheffield
Material opportunities
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Captives and their managers are ready for Solvency II in Malta, while the PCC structure remains a key reason for calling the island home...
Group captives: on the verge of a growth surge?
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SMEs are adopting a group mentality when they consider captive solutions, says Clayton Price of Marsh Management Services Cayman...
Sixty years and still going strong
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Nuno Antunes of AIG Global Risk Solutions explains why the captive fronting market is as dynamic as ever...
Interest rates: where will they go next?
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How is the economic climate affecting captives’ bond portfolios? Colleen McHugh of Barclays takes a look
Captive boards and trading partners: communication is key
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William Whitehead of AIG Global Risk Solutions explores the strength and value of face-to-face interaction between a captive board and the trading partners associated with a captive programme
Coordinating global captive fronting programmes
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Karen Amos and Donna Smith of AIG Global Risk Solutions in Bermuda look behind the curtains of multinational captive fronting programmes
A lost art form?
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Ken MacDonald of Miller Insurance Services provides a brief history of the origin of captives before outlining how large organisations can maximise their risk management approach
Live long and prosper
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Self-funding has long proven to be the most efficient form of financing healthcare insurance, says Phillip Giles of QBE North America
Big data: he who owns the past controls the future
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Nigel Feetham of Gibraltar law firm Hassans plots the history of information, and what it could do for insurance in the future
Dealing with the complexities of risk transfer issues
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Insuring risks via a captive programme offers many benefits for companies, but insurance accounting for captive programmes can sometimes be challenging. Richard Plano of AIG Global Risk Solutions explains how working with experienced providers can help
To profit or not-for-profit?
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Not-for-profit captives have been making the most of their distinct advantages
Policy language: what’s not in there could cost you
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A picture paints a thousand words, but what about an insurance policy? Milliman’s Michael Meehan takes a look
Different strokes for different folks
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Three non-traditional insurance arrangements are, in principle, the same, yet they operate very differently, says Stuart King of FR Global Advisors
Rent-A-Center: the good, the bad and the ugly
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Tom Stokes of JLT Insurance Management Limited revisits the Rent-A-Center case and asks what it means for captive insurance companies
Choosing carefully: who is right for you?
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An effective relationship with your custodian is critical to the operations of your captive, says Xina Stewart of Comerica Bank
Elements of a successful pooling arrangement
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Captives of all shapes and sizes should take notice of pooling arrangements
Chasing shadows
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Following the call for a timeout from the FHFA, many captive owners have been left to wonder what, if anything, they will have to fight against
Food for thought
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The annual Airmic conference in Birmingham gave attendees the low-down on procurement issues, cyber products and more
Seismic shifts
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The European Insurance Forum explored issues facing the industry and celebrated 25 years of international insurance and reinsurance in Ireland
More than just a link in the chain
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Link insurance purchase strategy to risk management and financing efforts to realise a captive’s maximum potential, says Stuart King of FR Global Advisors
Growing interest in captive cells: who and why?
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Large companies have been able benefit from captives for years. Now, companies that do not own one are looking to do the same, and captive cells may be the answer, says David White of AIG
Do not adjust your corporation
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Philip Box of Cunningham Lindsey Group Limited looks at the demands that captives and risk managers place on their adjusters
Stop chasing your audit trail
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Audited financial statements are worthwhile, but invasive procedures that are expensive, redundant and self-serving are not, says Linda Nethery of Venture Captive Management
Rate-creep impact
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Colleen McHugh of Barclays Wealth & Investment Management looks at the impact of rising interest rates on captives domiciled in Guernsey
TRI-A: with amendments
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With the Terrorism Risk Insurance Act about to be reauthorised for a third time, one of the most protracted sagas in recent memory for insurers could soon be coming to an end
The parent/captive trap
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Although the concept of intercompany loans is not new, the issue remains a hot topic for regulators, captive managers and rating agencies alike, according to Donald Thorpe of Fitch Ratings
The claim load is connected to the risk strategy
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Major organ transplants aren’t cheap, as premiums are revealing
The next stop for captives
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AIG’s new Bermuda-based segregated accounts company is the latest in a line of inventive captive offerings from managers
What lies ahead
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Paul Owens of of Willis Global Captive Management looks at the key challenges for the insurance industry in the next 15 years
Regulatory clashes continue
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The Captive Insurance Companies Association International Conference in Scottsdale, Arizona, revealed that state and federal regulatory issues will continue to grow
The more things change, the more the IRS looks to blame
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Rent-A-Center v Commissioner answered some questions, but posed others. Alan Fine of Brown Smith Wallace explains
Turning disaster into opportunity
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Carey Olsen’s Christopher Anderson takes an in-depth look at ILS
The future of ILS
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Industry players are watching the insurance-linked securities story with interest
Gibraltar PCCs and their future
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What’s on the cards for protected cell companies in Gibraltar? Alain Dufraisse of Aon Insurance Managers and White Rock Insurance takes a look
Gibraltar: a gateway to Europe
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For standalone captives or cell captives, the British Overseas Territory provides the best of both worlds, says Robus Gibraltar’s Tom Stephenson
Solvency II: on the home stretch
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The turn of the year marked the beginning of the two-year transitional period between individual national insurance legislation regimes and Solvency II
How and why you should set up a captive
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David Herratt of the Labuan International Business and Financial Centre explains what goes in to the decision to establish a captive
Worry lines
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US life insurers are fretting over the NAIC’s review of their captives
Converting the World Trade Center Captive
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The captive formed to settle claims resulting from 9/11 is being converted into a commercial insurance entity. CIT takes a look
Cellular activity
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Experts offer an insight into Malta as a captive insurance jurisdiction
The right route
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Stuart King of FR Global Advisors, an affiliated company of FiscalReps, looks at the matters that captive managers should consider in their line of work
Onshore opportunity
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Gibraltar deserves to become the captive insurance industry’s European domicile of choice, says Derren Vincent of Willis Management
New foundations
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Despite significant delays, Luxembourg is going ahead with its implementation of Solvency II. Ernst & Young’s Brice Bultot takes a look
Game changers
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The Reinsurance Association of America’s president was the toast of the latest VCIA conference that also saw Dodd-Frank, shadow insurance and healthcare come under discussion. CIT was there
Charitable benefits
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CIT tuned in to the latest Strategic Risk Solutions webinar to find out why a not-for-profit organisation should consider a captive
Celling Solvency II to captives
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The PCC structure is being put forward as an advantageous alternative that could help captives mitigate the costs of impending regulations, says Dr Beppe Sammut of GANADO Advocates
Having time to act
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Alan Pakula and Todd Dashoff of Huggins Actuarial Services outline what captives need to know about economic capital modelling
Choice of domicile: the last decision you will make
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A detailed operational plan should make choosing a domicile less daunting, says Mike Stalley of FiscalReps
Will the Asian captive market take off?
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Asia’s captive market remains underdeveloped compared to Europe and the US. Daniel Koepfer of NMG Risk Solutions explains why and elaborates on factors leading to the captive market in this region taking off
Captive tune-up: are you making the most of your captive?
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Regularly looking under the captive’s hood to assess its operations can provide the owner with tools that will keep the captive performing well for years to come, says Robert Gagliardi of AIG Captive Management Services
Sharing’s caring
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With its popularity soaring, CIT takes a look at the mutual insurance arrangement to see why it is a viable option for retailers and even football clubs
Onshore captive domiciles: contemplating competition
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The new kids on the block have a job on their hands if they are going to attract the right type and level of business, says Phillip Giles of Artex Risk Solutions
Stronger in a group
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The VCIA brought together a panel of experts to discuss the current situation with medical stop-loss insurance and how group captive programmes could be the solution to capital woes. CIT tuned in
Lets get innovative
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Celebrating 50 years in risk management, attendees of the Airmic conference were treated to all things insurance. CIT reports from the ground
Not afraid to converge
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The threat of litigation may worry some, but surely their insurance provider has their back? CIT takes a look
All hands in check
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Why are some US states still wary of the RRG structure? CIT investigates
Bermuda: front and centre
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Keeping a sharp focus on the key elements of the relationship between the client and the fronting carrier is critical to the success and longevity of that relationship, says Stuart Hayes of AIG Global Risk Solutions
Shock absorbent
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CIT takes a look at the group captive structure to see if collectively sharing risk is a viable option for captives, and finds that size really does matter
Medicine without borders
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Author and lawyer Peter Strauss details the hardships faced by US medical professionals and exposes insurance’s dirty little secret
An enlightened economy
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While economic woes are still top of the agenda, Turkey’s reinsurance market continues to grow. CIT talks to Willis employees to find out more
Access (not) denied
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Douglas Powell and Burke Coleman of Demotech review the recent US Court of Appeals decision on Nevada and report on the current status of risk retention groups
Solvency II: where to now?
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Uncertainty over Solvency II’s eventual implementation and the extent that captives will be granted proportionality has left the EU’s captive industry in a quandary. But captives should not simply ‘wait and see’, as CIT finds out
Count on more
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Michael Luderer of Severn Consultancy UK looks at why the number of regulators is increasing, and how captives should deal with the consequences
Cleanliness is next to thoroughness
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Accurate information makes captives tick, says Mark Davies of Avox
Yesterday’s news
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Roy Baumann of Swiss Re Corporate Solutions takes a look at how corporate risk financing adapts to changes in the legal, regulatory and tax environment
One giant leap for small corporations
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The 831(b) election offers a host of benefits that captives are watching closely. CIT takes a look
Shaken but not deterred
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The Captive Insurance Companies Association (CICA) 2013 International Conference had demographics, healthcare and regulation at the top of the agenda, but it had to make room for an earthquake
Risky with a chance of meatballs
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CIT delves into reputational risk to see how insurers are helping companies to keep their reps in check
Pick of the mix
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As 2012 licensing figures roll in, CIT looks at what some of the big guns are offering and what the new kids on the block are bringing to the industry
The luck of three
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Q3 2012 results for risk retention groups are indicative of exceptional business, says ratings firm Demotech’s Douglas Powell
Needs must
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Andrew Barile discusses underwriting reputational risk insurance in a captive instead of using more traditional methods
Negotiating the maze
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Lawrence Walters of Aon Risk Solutions looks at the challenges of reserves, LOCs and reinsurance relationships
Seeing clearly now the NRRA has gone (or not)
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Adam Forstot of USA Risk Group weighs into the debate on the controversial piece of Dodd-Frank legislation that is, was and could always be a pain for captives
Interview archive
Featured Captive Insurance Times
Brian McDonagh
Marsh Captive Solutions Dublin
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Many captive owners are exploring alternative forms of capital in order to strengthen their capital base in a more efficient manner, says Brian McDonagh of Marsh
Ross Elliott
Utah Captive Insurance Association
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Ross Elliott of the Utah Captive Insurance Association discusses what attendees can expect from this year’s Western Region Captive Insurance Conference
Kim Bunting
River Oak Risk
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Due diligence is needed to make sure that a captive is set up for the correct reasons and is handled by an experienced insurance professional, says Kim Bunting of River Oak Risk
Zach Finn
Butler University
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The MJ Student-Run Insurance Company could become the model for risk and insurance education programmes, says Butler University’s Zach Finn
Karin Landry
Spring Consulting
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Spring Consulting’s new captive is attracting interest from parties looking to fund medical stop-loss, although Karin Landry anticipates a healthy mixture of risks in the future
Dan Towle
CICA
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As the new president of CICA, Dan Towle aims to continue supporting the association’s efforts to grow its membership, increase advocacy, and ensure the smoothest of transitions
Lisl Lewis
London & Capital
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Although ICC legislation was implemented in Barbados last year, SCCs are still leading the way, according to Lisl Lewis of London & Capital
Linda Haddleton
IMAC
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As the new chair of IMAC, Linda Haddleton hopes to see continued growth in licence numbers, but as a mature domicile, the Cayman Islands is focused more on quality and innovation
Eduardo Fox
Appleby
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Appleby and Bermuda are optimistic about the future of Latin American captives. Eduardo Fox explains
Alvaro Ortiz
Charles Taylor
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Dramatic changes in the Latin American market have led to increased interest in the captive concept in the region, according to Alvaro Ortiz of Charles Taylor
Ciaran Healy
Willis Towers Watson
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Although it’s typically viewed as a defensive move, BEPS could mean positive things for captives, says Ciaran Healy of Willis Towers Watson
Vittorio Zaniboni
Generali Employee Benefits
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Generali’s Vittorio Zaniboni suggests employee benefits captives have evolved from risk financing tools to proper risk management vehicles
Dennis Harwick
CICA
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As the sun sets on his tenure as CICA president, Dennis Harwick explains why this adolescent industry is wiser than its years
Norman Chandler
Arsenal Insurance Management
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Norman Chandler is excited to see what Arsenal Insurance Management is capable of in 2017 after last year’s acquisition spree
Harvesh Seegolam
Mauritius Financial Services Promotion Agency
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Since Mauritius introduced captive legislation at the beginning of 2016, interest in the jurisdiction has increased, as Harvesh Seegolam explains to Becky Butcher
Derek Bridgeman
Marsh Captive Management
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Solvency II has seen captive owners explore alternative forms of capital, as the threat of the UK’s EU exit looms. Derek Bridgeman of Marsh explains
Warren Vickers
CapSure
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Information captured from big data can give clients an insight into which areas of exposures they could benefit from, specific to their industry sector. Warren Vickers of CapSure explains
William Hogarth
Clyde & Co
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Haste will undoubtedly be a key component of London’s ILS proposition, says William Hogarth of Clyde & Co
Stewart Feldman
Capstone Associated Services
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Stewart Feldman of Capstone Associated anticipates a slow migration of US captives to their home states, if regulatory changes can be clarified in the future
Stacey Huang
PARIMA
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With captive insurance on the agenda at this year’s PARIMA conference, Stacey Huang reveals there is a heightened sense of interest in alternative risk financing...
John Tortell
Exchange Re SCC
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Exchange Re’s John Tortell explains how Malta can become an ILS hub
Eddy Van Cutsem
Dublin Insurance & Management Association
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The new CEO of DIMA, Eddy Van Cutsem, says there is a lot still in store for the association over the course of the year, and in 2017
Steve Bauman
Zurich North America
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Steve Bauman of Zurich suggests it will be interesting to see how regulators react and begin to craft legislation, controls and requirements around cyber
Simon Phillips
Barclays Corporate & International Banking
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Regulators across the EU are taking diverging approaches to the level of capital they are expecting captives to hold post-Solvency II, says Simon Phillips of Barclays
Kevin Doherty
Nelson Mullins Riley & Scarborough
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Tennessee continues to surpass expectations in terms of year-on-year captive growth, according to Kevin Doherty of Nelson Mullins Riley & Scarborough
Mike Stalley
FiscalReps
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Although the Panama Papers brought focus to the appropriate use of a captive, Mike Stalley of FiscalReps suggests the leak could benefit the industry
Kim Willey
ASW Law
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Economic changes in Canada have companies considering captives in warmer climes for their insurance coverage. Kim Willey of ASW Law explains
Paul H Phillips III
Ernst & Young
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Regulatory permissions are partly the reason for an expansion in the US captive market, while the opposite is true in the EU, says Paul H Phillips III of Ernst & Young
Jason Flaxbeard
Beecher Carlson
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Although captives are adapting to the ongoing soft market, regulation continues to be a problem. Jason Flaxbeard of Beecher Carlson explains more
Thomas Stokes
JLT Towner US Consulting
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Groups and cells are among the best options for gaining access to the Terrorism Risk Insurance Act, according to Thomas Stokes of JLT Towner
Jesse Coyle
NCCIA
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Attendees can expect a diverse range of topics at this year’s North Carolina Captive Conference, according to Jesse Coyle
Richard Smith
VCIA
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Celebrating its 35th year in the captive business, Vermont is set to host a varied and informative conference. Vermont Captive Insurance Association president Richard Smith reveals what’s in store for attendees
Adam Cottini
Arthur J Gallagher
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There should be a loss prevention programme in place to deal with cyber crime and it should start with the internal response plan, says Adam Cottini of Arthur J Gallagher
Adam Peckman
Aon Risk Solutions
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Adam Peckman of Aon Risk Solutions reveals Aon’s first captive cyber survey results and explains how a captive can challenge the evolving threat of cyber risk
Michael Serricchio
Marsh Captive Solutions
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Michael Serricchio of Marsh Captive Solutions breaks down the 9th Captive Benchmarking Report to reveal how the captive market has changed
Andrew Rothseid
RunOff Re.Solve
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Andrew Rothseid of RunOff Re.Solve says a perfect storm is brewing in a global run-off market that continues to expand and evolve
Phillip Giles
QBE North America
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With the Affordable Care Act still having an impact on self-funding and the use of medical stop-loss captives, Phillip Giles of QBE North America explores where this area will go next
Michael Zuckerman
Temple University
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A proper enterprise risk management programme must be implemented from the top down, while a captive insurance company can enable a more robust ERM process, if properly managed, says Temple University’s Michael Zuckerman
Peter Bandarenko
Spring Consulting Group
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Respondents to a Spring Consulting Group survey revealed that they met the objectives they originally set out to achieve when starting an employee benefit captive. Spring’s Peter Bandarenko explains
Inga Ivsan
Swiss Private Wealth Advisors and Lighthouse Captive Services
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The PATH Act represents an important policy choice by the US to expressly permit the continued use of micro captives, according to Inga Ivsan of Swiss Private Wealth Advisors and Lighthouse Captive Services
Malcolm Cutts-Watson
Cim Global Business
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Malcolm Cutts-Watson discusses his new role as adviser at Cim Global Business, as well as the state of the captive insurance market
David Gibbons
Bermuda Captive Conference
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David Gibbons reveals what delegates can expect from this year’s Bermuda Captive Conference, and how Bermuda is primed for the future
Chris Varin
Marsh Captive Solutions Group
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Chris Varin of Marsh suggests captive owners should always explore commercial insurance options while simultaneously exploring use of their captive insurer for a terrorism-specific programme
Patrick Theriault
Strategic Risk Solutions
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There is no real limit to the types of risk that can be insured in enterprise risk captives, according to Patrick Theriault of Strategic Risk Solutions
Charles Winter
Aon Risk Solutions
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The referendum on EU membership will take place on 23 June, Charles Winter of Aon Risk Solutions explains what a British vote to leave could mean for the captive industry
David McManus
Artex Risk Solutions
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Having completed two high-profile acquisitions, David McManus of Artex Risk Solutions explains what its new capabilities mean for clients and the captive industry
Gaynor Brough and Richard Bray
Aon Risk Solutions
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Captives critical of Solvency II are finding that regulators are carving out exemptions to the legislation for them. Gaynor Brough and Richard Bray of Aon Risk Solutions explain more
John Thomson
HAI Group
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Captives offer financial flexibility while serving as a nexus to springboard discussions and actions, according to John Thomson of HAI Group
Brad Adderley
Appleby
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Insurance-linked securities could be an alternative to traditional reinsurance, and Bermuda is the place to explore the possibilities, says Brad Adderley of Appleby
Rachel Coan
Locke Lord LLP
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The NAIC, the IAIC, and a ban from the FHLB system—captives have their work cut out for them, as Rachel Coan of Locke Lord explains
John Talley
Missouri Department of Insurance
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John Talley, installed as captive programme manager at the Missouri Department of Insurance in December 2015 after holding a similar role in New Jersey, explains how keeping on top of the complexity of captives is key to future growth in the domicile
John Doak
Oklahoma Insurance Department
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Oklahoma’s regulatory modernisation embraced innovative ideals to meet the needs of Oklahomans, says insurance commissioner John Doak
Tamatoa Jonassen
The Cook Islands Financial Services Development Authority
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The Cook Islands has the ingredients to a be success, says Tamatoa Jonassen of the Financial Services Development Authority
Derek Stenson and Ramesh Maharaj
Walkers Global
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Established early last year, interest in PICs is growing. Derek Stenson and Ramesh Maharaj of Walkers Global take a look at the specifics
Tom Hodson and Stephanie Mocatta
SOBC Corp
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The captive market is seeing more and more run-offs. SOBC Corp will be there to get them on the right track, say Tom Hodson and Stephanie Mocatta
Brady Young
Strategic Risk Solutions
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Changes to the 831(b) tax election, set for 2017, could go some way towards small captives shedding their ‘dirty dozen’ status. Brady Young of Strategic Risk Solutions tells Becky Butcher how
Debbie Walker
North Carolina Department of Insurance
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The state was one of the standout US domiciles for new formations during 2015. Debbie Walker of the North Carolina Department of Insurance reveals why
Eric Dethlefs
Cassatt
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Cassatt Insurance Company’s Eric Dethlefs reveals how the healthcare group captive’s members work together to share best practices and risk
Benedict Burke
Crawford & Company
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Crawford & Company’s Benedict Burke believes that captives should consider the customer journey when settling claims made against them
David Snowball
Utah Insurance Department
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The future for captives looks fantastic—not only in Utah but around the world, according to the insurance department’s David Snowball
Justin Ward
Patient Advocates
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MaineSense, an employer-owned healthcare group captive, is closing its doors, but as Justin Ward of its administrator Patient Advocates explains, steps can be taken to ensure that claims do not become excessive
Thomas Stokes
JLT Towner Insurance Management
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JLT Insurance Management has expanded its Isosceles facility in the US. Thomas Stokes explains the benefits of the sponsored cell structure
Aaron Koch
Milliman
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The insurance-linked securities market is pivoting to focus on bringing new types of risk and new sponsors. Aaron Koch of Milliman explains
Dan Towle
Vermont Agency of Commerce & Community Development
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Any uncertainty in the US arises from external forces, says Vermont’s Dan Towle
Michele Fields
The Insurance Commission of the Bahamas
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The Bahamas has seen year-on-year increases in captive formations, says Michele Fields of the domicile’s insurance commission The Bahamas Financial Services Board
Lance McNeel
Capstone Associated Services
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Captive insurance can help oil and gas companies to mitigate financial risk. Lance McNeel of Capstone Associated Services explains
Dustin Partlow
JLT Towner Insurance Management
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The restrictions written into RRG reform are important to future expansions of the LRRA, says Dustin Partlow of JLT Towner Insurance Management
Dean Spense
CEO Captive Insurance Solutions NZ
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Education is the key to continued growth in the South Pacific, says Dean Spense of Captive Insurance Solutions New Zealand
Tracy Stopford
Willis
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With flexible regulators, robust regulations, local expertise and a strong reputation, the infrastructure needed to support captive growth in Asia is at hand, says Tracy Stopford of Willis in Hong Kong
Kieran O’Mahony
Association of Cayman
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MAC’s Kieran O’Mahony looks ahead to this year’s Cayman Captive Forum
Michael Schroeder
Roundstone
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Value-based plan design, reference-based pricing, community health plans and population health management were all hot topics at Roundstone’s first Medical Captive Forum. Michael Schroeder explains
Jeffrey Matthias
Madison Scottsdale
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Madison Scottsdale is encouraging captive decision makers to shift to a more balanced focus when it comes to investment decisions through investment education and well-conceived investment policies. Jeffrey Matthias explains
Ludovic Bayard
Generali Employee Benefits Network
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Captives are increasingly including employee benefit schemes in their businesses, notes Ludovic Bayard of Generali Employee Benefits Network
Derek Lloyd
AMS Financial Group
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AMS Insurance director Derek Lloyd discusses the reasons behind captive formations, re-domiciliations and liquidations
Phillip Giles
QBE Insurance Group
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The Affordable Care Act has helped to accelerate interest in medical stop-loss captives, says Phillip Giles of QBE Insurance Group
Matthew Latham
XL Catlin
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Matthew Latham, XL Catlin’s captive expert, explains where captive insurance is at the moment, and where it is heading in the future
John Rehagen
Missouri Department of Insurance
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Domicile discussions have become much more sophisticated, says John Rehagen of the Missouri Department of Insurance
Tom Stewart
Innovative Captive Strategies
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Innovative Captive Strategies’s purchase of Aceterrus Insurance Resources is a sign of yet more growth in the captive management sector
Richard Amoroso
AzCIA
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The ACIA’s newly elected president, Richard Amoroso, is hoping to play a significant role in further developing Arizona as an attractive domicile for captives
Lorraine Stack
Marsh
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While the current regulatory environment in Europe means it is not ideally suited to innovation, Marsh’s Lorraine Stack says the first steps have already been taken towards a more sophisticated future for captives
Dean Spense - Rodney Mathers
Captive Insurance Solutions (NZ)
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Captive Insurance Solutions (NZ) has established itself as the only exclusive captive facilitator in New Zealand, Australia and the South Pacific. Dean Spense and Rodney Mathers explain more
Richard Smith
Vermont Captive Insurance Association
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As the Vermont Captive Insurance Association hosts its 30th Annual Conference, association president Richard Smith gives his take on the industry’s current talking points, and what to expect from the event itself
Gordon Anderson
Neil Jamieson
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Return on investment remains secondary to protecting capital, according to Gordon Anderson and Neil Jamieson
Simon Nicholas
Isle of Man Captive Association
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With the doors to ILS opened by new legislation, Simon Nicholas of the Isle of Man Captive Association explains what this means for the industry
Colleen McHugh
Barclays Wealth & Investment Management
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Whether at the mercy of Solvency II or not, Colleen McHugh of Barclays says it is imperative that the captive insurance industry remains aware
Adrian Sweeney
Zurich Insurance Group
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Adrian Sweeney of Zurich explains why Asia is looking to take the captive concept beyond the usual risk transfer, and how far the region has come...
Paul Owens
Willis Global Captive Practice
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Although it has taken more than 50 years for the captive industry to gain its footing in western countries, Paul Owens of Willis claims that a similar level of growth could be seen in Asia over the course of the next 10...
Alana Mueller
GCIA
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With a new captive insurance bill all but signed into law and a proactive approach to regulation, Georgia is set to throw its hat in the ring with the industry’s ‘gold standard’ players, according to the GCIA’s Alana Mueller
Maria Sheffield
Missouri Department of Insurance
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As one of only two domiciles that can offer both EU solvency standards and PCC cell solutions, Gibraltar prides itself on acting as the low-cost solution. Aon’s James Clayton-Wright reports
It goes without saying that the introduction of Solvency II has brought with it great challenges for insurers. But ECIROA chief Günter Dröse feels the way forward is to work together, and keep things simple..
Skip Myers
Morris, Manning, and Martin
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Washington DC has been the scene of some big moments for captive insurance in the last year, but Skip Myers of Morris, Manning, and Martin says that 2015 could follow a similar pattern
Dominic Wheatley
Guernsey Finance
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New Guernsey Finance chief Dominic Wheatley reveals what the jurisdiction is aiming to do next with captives, and paints a positive picture for ILS
Michael Schroeder
Allied Professionals Insurance Company
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Michael Schroeder of Allied Professionals Insurance Company shares his insider’s perspective on the case of the risk retention group in Nebraska
Ian Bridges
Global Captive Management
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Hot on the heels of the Rent-A-Center case earlier this year, Ian Bridges of Global Captive Management explains the decisive factors in the latest victory
Jamie Bouloux
AIG UK
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Despite a rise in the number of insurers writing cyber risk, an air of trepidation remains, says Jamie Bouloux of AIG
JS de Jager
CSI International Underwriting (Cayman) Ltd.
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There has been an increasing demand from Cayman captives to place their assets with on island investment managers. JS de Jager of CSI International Underwriting (Cayman) and Scott Elphinstone of Five Continents Financial get down to brass tacks...
William Dalziel
London & Capital
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London & Capital’s new indices could provide an invaluable edge for owners and managers alike, as William Dalziel explains...
Konrad Friedlaender
Carey Olsen
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In the wake of the recent $16 billion transaction, Carey Olsen partner Konrad Friedlaender explains the nuts and bolts of the BTPS Insurance Incorporated Cell Company...
Richard Smith
Vermont Captive Insurance Association
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Despite securing its thousandth captive and retaining its position at the forefront of the US captive industry, Richard Smith explains why Vermont is determined to keep its eye on the ball
Marty Scherzer
AIG
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For more than 50 years, AIG has been providing global fronting programmes throughout the world. Marty Scherzer of AIG gives his view of the captive insurance market...
Angela Weyne
Puerto Rico Office of the Commissioner of Insurance
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Puerto Rico is the latest domicile to enter the ILS and catastrophe bond market. Angela Weyne, commissioner of insurance, reveals why
Skip Myers
Morris, Manning & Martin LLP
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While CICA’s opposition to the NAIC’s proposed amendments is no secret, specific details have been in short supply. Skip Myers of Morris, Manning & Martin LLP gets to the heart of the matter
Paul Corver
Randall & Quilter Investment Holdings
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While the pages of captive magazines are full of ways to instigate self-insurance, less is known about what to do when things do not go as planned. Paul Corver of Randall & Quilter is the man with a way out
Nick Gale
Marsh
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Persevering in the use of a stout regulatory system is beginning to pay off for Ireland, with US captive managers using the domicile as a gateway into the European market. Practice leader for Marsh’s UK & Ireland captive solutions, Nick Gale, explains the appeal of the emerald isle
Michael Lynch
Nevada Division of Insurance
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Nevada is watching captive changes at the NAIC closely, says Michael Lynch
Steve Kinion
Delaware Insurance Department
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With a thriving captive industry already established, Delaware’s next challenge is to oppose the newest NAIC proposal, says Steve Kinion
Tom Jones
McDermott Will & Emery
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It is incumbent on the captive industry to show that it can succeed without the heavy hand of regulation, according to Tom Jones of McDermott Will & Emery
Skip Myers
Morris, Manning & Martin LLP
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Close tabs need to be kept on the NAIC to make sure that it is not overreaching and doing something that is adverse to the interests of the alternative market, says Skip Myers of Morris, Manning & Martin LLP
Ian Bridges
Global Captive Management
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After a short time away from GCM, Ian Bridges has returned as vice president to find that things are still looking bright for Cayman’s captives
Thomas Hodson
President of CCIA
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CCIA’s Thomas Hodson explains the state’s captive insurance vision...
Scott Geromette
Honigman Miller Schwartz and Cohn LLP
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Scott Geromette of Honigman Miller Schwartz and Cohn reveals what he believes to be the biggest challenges facing the industry today, and how he is working on getting captives in to Federal Home Loan Banks cooperatives
Scott Beckman
ISMIE Mutual Insurance Company
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Captive Insurance Companies Association vice chairman Scott Beckman’s summary of what to expect at this year’s CICA conference
Paul Owens
Willis Global Captive Management
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Paul Owens, CEO of the newly formed Willis global captive management practice, reveals why its North American, European and international captive operations are being brought together to form a single cohesive business
David Ramer and Lance Abbott
BevCap Management
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President David Ramer and programme manager Lance Abbott of BevCap Management discuss why their new cell captive had to domicile in Hawaii
National Association of Insurance Commissioners

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The NAIC explains how lots of jurisdictions will benefit from reduced collateral requirements—and reveals Ireland, France and Japan’s interest in the new model...
Peter Mackay
Global Captive Management
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CIT talks to Peter Mackay of Global Captive Management about the conflict of interest that can arise without an independent manager focused on service
JS de Jager
CSI International Underwriting (Cayman) Ltd.
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Price increases in commercial insurance have encouraged long-term care facilities to consider captives, as CSI International Underwriting’s JS de Jager tells CIT
Jim Arnold
Texas Captive Insurance Association
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CIT talks to Jim Arnold of the Texas Captive Insurance Association, ahead of the association’s first annual conference in Austin next year
ASHRM executives
ASHRM
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CIT catches up with ASHRM executives ahead of the association’s annual conference to find out what’s in store for attendees this year
Gavin Parker, Barclays Guernsey
Stuart King FR Global Advisors
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How is Guernsey maintaining its position as Europe’s top dog? CIT asks two experts on the ground, who discuss competition, ILS and Solvency II
Veronique Méautte-Evans
Zurich Insurance Company Ltd
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Zurich’s Veronique Méautte-Evans puts forward the case for reinsurance captives to CIT
Pierre Sonigo
FERMA
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CIT talks to Pierre Sonigo of FERMA ahead of the federation’s upcoming forum to talk risk management, agendas and helping new recruits
Siew Wai Wan
Fitch Ratings
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CIT catches up with Siew Wai Wan of Fitch Ratings to dig a little deeper into the firm’s recent reinsurance discoveries
Mark Koogler
Porter Wright Morris & Arthur
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Mark Koogler of Porter Wright Morris & Arthur tells CIT about Ohio’s intentions to enter captive insurance and what it still needs to do to get there
Derek Patience and Donna Weber
Marsh
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Derek Patience and Donna Weber of Marsh put forward a case to CIT for choosing a protected cell company over a single parent captive
Brady Young
SRS
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CIT hears from SRS president and CEO Brady Young, who charts the captive management and consultancy firm’s progress since its split from Credit Suisse
Richard Smith
VCIA
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CIT catches up with the VCIA’s president to discuss the latest industry happenings and what we can expect from the association’s annual conference
Aliya Allen
The Bahamas Financial Services Board (BFSB)
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Aliya Allen of the Bahamas Financial Services Board tells CIT how the country has managed to put itself back on the captive map
Derek Martisus
Performa
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Derek Martisus of Performa tells CIT why investment funds are a viable solution for small- to mid-sized captive companies
David Herratt
Consultant
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Consultant David Herratt tells CIT about the attraction associated with the little known Malaysian federal territory of Labuan
Michael Rogers
Risk Services Companies
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Michael Rogers of Risk Services Companies tells CIT why the group captive structure can be a winner, and how companies should go about setting one up
David Roberts and JS de Jager
CSI International Underwriting (Cayman) Ltd.
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CSI International Underwriting’s David Roberts and JS de Jager tell CIT why being an independent company is integral to managing captive clients
Thomas Adams and Alex Webb
North Carolina Captive Insurance Association
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CIT chats to Thomas Adams and Alex Webb of the North Carolina Captive Insurance Association to find out how the new domicile on the block is progressing
Mike Ferguson
Self-Insurance Institute of America
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CIT talks to Mike Ferguson of the Self-Insurance Institute of America to see what the trade association is up to, and how its initiatives are progressing
Laurent Dignat
BNP Paribas
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CIT catches up with Laurent Dignat of BNP Paribas to find out how the firm is assisting its captive clients through post-financial crisis problems
Crosby Sherman
New Jersey Department of Banking and Insurance
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CIT catches up with Crosby Sherman of the New Jersey Department of Banking and Insurance to talk about new laws, cell formation and poaching captives
Ronan Ryan
Allied Risk Management
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CIT speaks with Ronan Ryan of Allied Risk Management about the Irish market, what to expect from your captive manager and the appropriate level of service
Mitch Cantor
International Center for Captive Insurance Education
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Education continues long into a career. CIT finds out about the International Center for Captive Insurance Education from executive director Mitch Cantor
Günter Dröse
ECIROA
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Günter Dröse of ECIROA tells CIT about Solvency II and captive owners
Marty Scherzer
AIG
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CIT talks to Marty Scherzer of AIG about risk profiles and why alternative risk transfer vehicles are sometimes the answer to traditional insurance needs
Paul Dassenko
Risk Transfer Underwriting
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CIT talks to Paul Dassenko of Risk Transfer Underwriting about potential exit strategies, collateral stacking and forgetting the past
Colleen McHugh­
Barclays
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CIT talks to Colleen McHugh­—who recently joined Barclays in Guernsey—about what her team can do for captives in Europe
Simon Kilpatrick
Advantage Insurance Holdings
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CIT talks rent-a-captives with Simon Kilpatrick of Advantage Insurance Management to see what the facility offers the industry
Dennis Harwick
CICA
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CICA president Dennis Harwick tells CIT why his glass is half full, how the market is growing stronger, and what to look out for at the association’s upcoming international conference
Steve Kinion
Delaware Insurance Department
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CIT talks about figures, regulation and all things Delaware with Steve Kinion of the state’s insurance department after its encouraging 2012 captive results
Richard Smith
VCIA
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The NRRA has been a continuous source of misunderstanding when it comes to captives. CIT talks to Richard Smith of the VCIA in an attempt to see if there is light at the end of the tunnel
Steven Chirico
A.M. Best
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CIT goes behind the scenes of A.M. Best with Steven Chirico to discover how the ratings process really works
Les Boughner
Willis
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After the successful launch of WillisCaptus, CIT talks to Les Boughner of the Willis captive and consulting practice to get the low down on the state of RRGs
Simon Phillips
Barclays
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CIT talks to Simon Phillips about his new role as head of captive insurance at Barclays and how the firm is tackling current industry issues
Rob Stavrou
Northdoor
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CIT talks to Rob Stavrou of Northdoor about what captive companies should look for in a technology system, and how insurance innovations are progressing
Richard Clark
Xuber
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CIT talks to Richard Clark of Xuber about why servicing the captive sector is a little different
Pedro Reis
Cayman Islands Monetary Authority
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CIT talks to Pedro Reis of the Cayman Islands Monetary Authority about how healthcare captives are faring on the island
Steve Bauman
Zurich Insurance Company Ltd
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An early start with Fred Reiss gave Steve Bauman the captive bug. He tells CIT about his beginnings in the industry
Jay Adkisson
Riser Adkisson
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CIT talks to Jay Adkisson of law firm Riser Adkisson about tax shelters, captive investment, and why New York could be a strong player in the sector
Michael Meehan
Milliman
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Despite a complicated economic environment, US captives are doing well and state domiciles are vying for new business. CIT talks to Michael Meehan of Milliman to find out more
John Kelly
Hanover Stone Partners
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Hanover Stone Partners has launched CaptiveGuard for captive insurance companies and their parent organisations, as CIT finds out
Mike Stalley
FiscalReps
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CIT talks to Mike Stalley of FiscalReps, who shines a light on developments in Solvency II and insurance premium tax legislation
Ross Dennett
Thomas Miller Captive Management Limited
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CIT talks to Ross Dennett of Thomas Miller Risk Management in the Isle of Man about the island’s offering, risk management needs and Solvency II
Steven Dyer
Stevens & Lee
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CIT talks to Steven Dyer of the law firm Stevens & Lee about its quality and safety partner, Surgical Excellence, and risk management and medical malpractice insurance in the new healthcare environment
John Doak and Owen Laughlin
Oklahoma Insurance Department
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CIT talks to John Doak and Owen Laughlin of the Oklahoma Insurance Department after the state recently amended its captive insurance legislation
Jason Flaxbeard and Matthew Takamine
Beecher Carlson
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CIT talks to Jason Flaxbeard and Matthew Takamine of insurance brokerage and consulting firm Beecher Carlson about being different in captive insurance
News archive
Featured Captive Insurance Times
GEB appoints executive management trio
23 June 2017 | Brussels | Reporter: Becky Butcher
Generali Employee Benefits (GEB) has welcomed Eric Butler, Roland Raad and Thierry Mestach to its international management team
R&Q sells Lloyds managing agency to Coverys
23 June 2017 | London | Reporter: Becky Butcher
R&Q Investment Holdings has reached an agreement to sell the entire share capital of its Lloyd’s managing agency, R&Q managing agency, to Coverys, a provider of medical professional liability insurance based in Boston
Captives dominate the BVI insurance sector
23 June 2017 | Road Town, British Virgin Islands | Reporter: Becky Butcher
Captives in the British Virgin Island’s insurance sector continue to dominate the market, in terms of the number of firms, as well as revenues generated, according to a new BVI Global Contribution report
FCC Services captive reports ‘financially solid’ 2016 results
22 June 2017 | Colorado | Reporter: Becky Butcher
The Farm Credit System Captive Insurance Company, the captive insurer of FCC Services, has reported a net income of $10.3 million in 2016, an increase of 7.8 percent compared to the previous year
Archer Daniels Midland captives rated ‘excellent’ by A.M. Best
22 June 2017 | Oldwick | Reporter: Becky Butcher
A.M. Best has assigned a financial strength rating of “A- (Excellent)” and long-term issuer credit ratings of “a-” to both of Archer Daniels Midland's captives
OECD ranks Barbados as 'largely compliant'
22 June 2017 | Bridgetown | Reporter: Becky Butcher
Barbados has been recognised by the Organisation for Economic Co-operation and Development’s (OCED) Global Forum as being “largely compliant” during 2016
John Thomson departs HAI Group as CEO
21 June 2017 | Cheshire, Connecticut | Reporter: Becky Butcher
John Thomson has stepped down from his role as president and CEO at HAI Group, the public housing insurance agency
A.M. Best: SFCR analysis shows strong solvency ratios for captives
21 June 2017 | London | Reporter: Becky Butcher
A.M. Best has obtained and analysed the Solvency and Financial Condition Reports (SFCR) from its rated European captives, which found that solvency ratios are “very strong”
FERMA releases BEPS guidelines for captives
20 June 2017 | Brussels | Reporter: Becky Butcher
FERMA has released guidelines for captive insurance and reinsurance arrangements to ensure a consistent implementation of the Organisation for Economic Co-operation and Development’s recommendations on BEPS
Captives need to act now over BEPS compliance
19 June 2017 | London | Reporter: Becky Butcher
Multinational companies with large captives need to be prepared to demonstrate their alignment to BEPS principles or face potential reputational damage and financial penalties, according to Nick Gale of Marsh Captive Solutions
Texas governor signs off captive bill updates
19 June 2017 | Austin | Reporter: Becky Butcher
Texas governor Greg Abbott has signed the state’s new captive bill into law
New FHLB legislation could see captives return
16 June 2017 | Washington DC | Reporter: Becky Butcher
US legislators have introduced a new bill to allow captive insurance companies that were members of a Federal Home Loan Bank (FHLB) prior to 12 September 2014 to return to the fold
SIIA asks Treasury to look at Notice 2016-66
15 June 2017 | Washington DC | Reporter: Becky Butcher
The Self-Insurance Institute of America (SIIA) has asked the US Treasury to include Notice 2016-66 in the President Donald Trump-ordered review of US tax rules
BDA welcomes Greg Wojciechowski to its board of directors
15 June 2017 | Hamilton | Reporter: Becky Butcher
The Bermuda Business Development Agency (BDA) has appointed Greg Wojciechowski to its board of directors
Breakwater provides growth capital to Hamilton Captive Management
15 June 2017 | California | Reporter: Becky Butcher
Breakwater Investment Management, a private investment firm, has provided a senior secured term loan to support the continued growth of Hamilton Captive Management
Ratings of Duke Energy captive affirmed
15 June 2017 | Oldwick | Reporter: Becky Butcher
A.M. Best has affirmed the financial strength rating of “A (Excellent)” and the long-term issuer credit rating of “a” of Bison Insurance Company, the captive of Duke Energy Corporation
Honeywell captive withdraws from A.M. Best ratings
14 June 2017 | Oldwick | Reporter: Becky Butcher
Cedar Court Indemnity Company, the parent captive insurer of Honeywell International, has requested to be withdrawn from A.M. Best’s ratings process
JLT Capital Markets closes $65.1m cat bond
14 June 2017 | New York | Reporter: Becky Butcher
Jardine Lloyd Thompson (JLT) Capital Markets, an affiliate of JLT Re, has closed the private placement catastrophe bond, Market Re 2017-1, at $65.1 million
Airmic: Traditional insurance model not suitable for emerging risks
13 June 2017 | Birmingham | Reporter: Becky Butcher
Insurers and risk managers need to work together to develop a new business model based on partnership if they are to “retain value and relevance to businesses”, attendees heard at this year’s Airmic conference
Marian Fenton swaps AIG for Aon
13 June 2017 | Dublin | Reporter: Becky Butcher
Aon Global Risk Consulting has appointed Marian Fenton as director of insurance for its captive and insurance management team
Umer Islam named EY Bermuda captive leader
12 June 2017 | Hamilton | Reporter: Becky Butcher
EY has appointed Umer Islam as leader of its captive insurance practice
Compre agrees first captive acquisition
12 June 2017 | Dublin | Reporter: Becky Butcher
Compre has agreed to acquire Equinox CA Europe, a captive insurer of global engineering and construction conglomerate SNC-Lavalin
Financial CHOICE Act passes House
09 June 2017 | Washington DC | Reporter: Mark Dugdale
The Financial CHOICE Act, the legislation that proposes to repeal and replace the Dodd-Frank Act, has passed the House of Representatives
US-EU covered agreement moves closer to implementation
08 June 2017 | | Reporter: Mark Dugdale
The European Council has authorised the signing of the US-EU covered agreement on insurance and reinsurance, paving the way for its passage on one side of the Atlantic, at least
Honeywell captive's ratings affirmed
08 June 2017 | Burlington | Reporter: Mark Dugdale
A.M. Best has affirmed the financial strength and long-term issuer credit ratings of the Vermont-based captive insurer of Fortune 100 technology and manufacturing company Honeywell International
XL Catlin expands structured risk solutions team
08 June 2017 | New York | Reporter: Mark Dugdale
XL Catlin has appointed Aiden Joo as senior underwriter in its structured risk solutions business
Insurers and reinsurers struggle with SFCR in Ireland
07 June 2017 | Dublin | Reporter: Mark Dugdale
The first round of solvency and financial condition reports filed in Ireland under Solvency II show that Irish insurers and reinsurers struggled with the system of governance disclosure requirement, according to Deloitte
California's John Finston joins Drinker Biddle
07 June 2017 | San Francisco | Reporter: Mark Dugdale
Former deputy commissioner and general counsel for the California Department of Insurance, John Finston, has joined Drinker Biddle & Reath as a partner in the firm’s San Francisco office
Small captives edging closer to dominating market
06 June 2017 | London | Reporter: Mark Dugdale
Small captives that generate less than $1.2 million in premiums annually now account for almost 44 percent of Marsh-managed captives, up from 24 percent in 2012
A.M. Best: New agency rules will boost business in Vermont
05 June 2017 | Montpelier | Reporter: Stephanie Palmer
Vermont’s updated law allowing for the inclusion agency captives will make the state more attractive to captive formations, according to A.M. Best
New CEO named at Greenlight Re
02 June 2017 | Grand Cayman | Reporter: Stephanie Palmer
Greenlight Capital Re has named Simon Burton as its new CEO and member of the board of directors, effective 1 July
AlphaCat pounces for new portfolio manager
02 June 2017 | Bermuda | Reporter: Stephanie Palmer
AlphaCat has appointed Bernard Van der Stichele as portfolio manager
A.M. Best upgrades Builders Insurance ratings
01 June 2017 | Oldwick | Reporter: Becky Butcher
A.M. Best has upgraded the financial strength rating of Builders Insurance, a mutual captive company, and its wholly owned subsidiaries, to “A (Excellent)”
Xceedance expands services to Bermuda insurance market
31 May 2017 | Boston | Reporter: Becky Butcher
Xceedance has expanded its consulting and managed services to support insurance and reinsurance organisations domiciled in Bermuda
JLT Re appoints Tony Sammur
31 May 2017 | Connecticut | Reporter: Becky Butcher
JLT Re North America has named Tony Sammur as the new executive vice president in Stamford, Connecticut
Record global ILS growth in Q1
31 May 2017 | St Peter Port | Reporter: Becky Butcher
The first quarter of 2017 has seen 14 global ILS transactions with $2.76 billion of risk capital issued, approximately $1.4 billion above the 10-year average, according to an ILS Q1 market report from Artemis
Western Region Captive board revealed
31 May 2017 | Salt Lake City | Reporter: Becky Butcher
The annual Western Region Captive Insurance Conference was formally incorporated during this year’s meeting in Salt Lake City, Utah
Excellent ratings for Waste Management captive
30 May 2017 | Oldwick | Reporter: Becky Butcher
A.M. best has affirmed Waste Management’s captive’s financial strength rating of “A- (Excellent)” and its long-term issuer credit rating of “a-”
Texas captive bill ready to be signed into law
26 May 2017 | Houston | Reporter: Becky Butcher
The Texas legislature has passed the state's new captive bill to allow for non-affiliated reinsurance, reciprocal captive structures
KBRA hires Carol Pierce for director of insurance role
25 May 2017 | New York | Reporter: Becky Butcher
Kroll Bond Rating Agency (KBRA) has named Carol Pierce as the new director of the agency’s insurance group, focusing on captives, reinsurers and alternative capital providers
Insurance and reinsurance need to adapt to thrive
25 May 2017 | Dublin | Reporter: Becky Butcher
Insurance and reinsurance need to learn to adapt to the challenges it is facing, Denis Kessler, chair of the board and CEO of SCOR Re, has warned
Eddy Van Cutsem to depart Insurance Ireland
25 May 2017 | Dublin | Reporter: Becky Butcher
Eddy Van Cutsem is set to leave Insurance Ireland at the end of June, after taking on the role of interim CEO of DIMA following the departure of Sarah Goddard last July
BEPS still causing issues for insurers
25 May 2017 | Dublin | Reporter: Becky Butcher
The OECD's crackdown on base erosion and profit shifting is still causing a number of issues at captive insurance companies, according to a panel at the European Insurance Forum
Tennessee revises captive law as premiums climb
25 May 2017 | Nashville | Reporter: Mark Dugdale
Captives domiciled in Tennessee can now go dormant and easily move around cells following the passage of new legislation this month, as premiums hit an all time high
Funds need to keep an eye on BEPS negotiations
24 May 2017 | London | Reporter: Becky Butcher
Fund participants were encouraged at Guernsey’s Fund Forum to pay close attention to negotiations over base erosion and profit sharing (BEPS) rules
Willis Towers Watson to appoint Paul Devitt
24 May 2017 | London | Reporter: Becky Butcher
Paul Devitt is set to join Willis Towers Watson as director of its global services and solutions practice in August
Alabama Captive Association reveals new board
24 May 2017 | Alabama | Reporter: Becky Butcher
The Alabama Captive Association has named its new board of directors
Illinois Senate passes captive bill
23 May 2017 | Chicago | Reporter: Becky Butcher
The 2014 tax increase on captives in Illinois is one step closer to being repealed after legislation was passed by the state’s Senate in a unanimous vote on 15 May
Emily Haluska joins Capstone
23 May 2017 | Houston | Reporter: Becky Butcher
Capstone has appointed Emily Haluska as a senior underwriting analyst
Eurobase welcomes new director of insurance solutions
23 May 2017 | London | Reporter: Becky Butcher
Eurobase International Group has appointed Rebecca Oliver as director of insurance solutions
XL Catlin appoints Steve Bauman
22 May 2017 | New York | Reporter: Becky Butcher
Steve Bauman has joined XL Catlin as head of global programmes and the captive practice in North America, effective 23 May
New general counsel for California insurance department
22 May 2017 | California | Reporter: Becky Butcher
The California insurance commissioner Dave Jones has appointed Ken Schnoll as general counsel for the state’s department of insurance
A.M. Best affirms NextEra Energy captive
22 May 2017 | Oldwick | Reporter: Becky Butcher
A.M. Best has affirmed the financial strength rating of “A (Excellent)” and the long-term issuer credit rating of “a” of Palms Insurance Company, the wholly owned captive insurer of NextEra Energy Capital
PRIIA puts insurance market at ease
19 May 2017 | San Juan | Reporter: Becky Butcher
PRIIA has reassured the insurance industry that although Puerto Rico has filed for voluntary bankruptcy, its international insurers remain "open for business"
Peter Allen joins Moore Stephens from Grant Thornton
19 May 2017 | London | Reporter: Becky Butcher
Allen joined the company from Grant Thornton Singapore where he served as CEO and senior adviser
AXA Poland targets growth in employee benefits market
18 May 2017 | Warsaw | Reporter: Becky Butcher
AXA Poland is set to capitalise on strong growth opportunities in the Polish market in a bid to expand its employee benefits business
RIMS expresses support towards US-EU covered agreement
18 May 2017 | Washington DC | Reporter: Becky Butcher
The Risk Management Society (RIMS) has written to Steven Mnuchin, secretary of the US Treasury, expressing its support for the recently proposed US-EU covered agreement on reinsurance
RRGs continue stable run
17 May 2017 | Ohio | Reporter: Becky Butcher
Risk retention groups (RRGs) remained financially stable throughout 2016, according to Douglas Powell, senior financial analyst at Demotech
Labuan to host Asia Captive Conference
16 May 2017 | Kuala Lumpur | Reporter: Becky Butcher
The Labuan International Business and Financial Centre and Labuan International Insurance Association (LIIA) are set to host an Asia captive conference on 16 and 17 August
Brian Duperreault swaps Hamilton for AIG
15 May 2017 | Hamilton | Reporter: Becky Butcher
Bermuda-based Hamilton Insurance Group has reorganised its leadership following the departure of CEO and board chair Brian Duperreault
Gen Re given the go ahead for Indian reinsurance license
15 May 2017 | Mumbai | Reporter: Becky Butcher
Gen Re has received approval from the Insurance Regulation and Development Authority of India (IRDAI) to open a reinsurance branch in Mumbai
Websure opens US office
12 May 2017 | London | Reporter: Becky Butcher
Websure, a software provider to the insurance and reinsurance industry, has opened a new North America operation
Georgia governor signs off captive bill
12 May 2017 | Atlanta | Reporter: Katherine Brown
The Georgia governor Nathan Deal has signed off a new captive bill
Montana captive bill goes live
12 May 2017 | Helena | Reporter: Becky Butcher
Montana governor Steve Bullock has signed into law a new bill that allows inactive captive insurance companies to apply for dormant status
Decreasing global reinsurance premiums continue in London
11 May 2017 | London | Reporter: Becky Butcher
London premiums from emerging markets declined from $10.5 billion in 2013 to $9.3 billion in 2015
Kinion to continue as Delaware captive director
10 May 2017 | Wilmington | Reporter: Becky Butcher
Steve Kinion will continue to serve as captive bureau director for the Delaware Department of Insurance
New deputy CEO at Guernsey Finance
10 May 2017 | St Peter Port | Reporter: Becky Butcher
Guernsey Finance, the island’s promotional agency, has promoted Kate Clouston to deputy chief executive
Butler University captive to launch on 1 August
09 May 2017 | Indianapolis | Reporter: Mark Dugdale
Butler University confirms start date of MJ Student-Run Insurance Company, which received official approval in April
Imprise Financial recruits Derek Thomas
09 May 2017 | Cleveland | Reporter: Mark Dugdale
Imprise Financial has hired Derek Thomas to serve its captive insurance clients
Dodd-Frank replacement clears first hurdle
09 May 2017 | Washington DC | Reporter: Mark Dugdale
The repeal and replacement of Dodd-Frank is underway, with the Federal Insurance Office a likely casualty
OECD provides update on CbC reporting
08 May 2017 | Paris | Reporter: Mark Dugdale
The OECD has announced a fresh “wave of activations” as jurisdictions work toward the implementation of country-by-country reporting to tackle base erosion and profit shifting
BDA launches Bermuda Risk Directory
05 May 2017 | Hamilton | Reporter: Mark Dugdale
The Bermuda Risk Directory offers access to the island's brokers, as well as insurance, reinsurance, captive insurance, and insurance-linked securities sectors
Matthew Hills named president of IoM Insurance Institute
04 May 2017 | Douglas | Reporter: Becky Butcher
Hills serves as client director at Aon Insurance Manager (Isle of Man)
John Williamson joins Capstone
03 May 2017 | Houston | Reporter: Becky Butcher
Capstone has appointed John Williamson as director of business development, who brings more than 30 years of financial services experience to the company
Liberty Mutual combines specialty lines business with Ironshore
03 May 2017 | Boston | Reporter: Becky Butcher
The merger of the two businesses will create the sixth largest writer of excess and surplus lines in the US
Jo Willaert elected as IFRIMA president
03 May 2017 | Philadelphia | Reporter: Becky Butcher
Jo Willaert, the president of the Federation of European Risk Management Associations (FERMA), has been elected as the president of the International Federation of Risk Management Associations (IFRIMA) for a two-year term
US-EU agreement ‘a fruitful milestone’
02 May 2017 | New York | Reporter: Becky Butcher
The EU and US covered agreement is one key area where the Dodd-Frank Act has worked as intended, S&P Global Ratings has said
Vermont’s governor signs new captive bill into law
02 May 2017 | Montpelier | Reporter: Becky Butcher
Vermont governor Phil Scott has signed new captive legislation into law, allowing for agency captives to be licensed in the state
John Harris to head up Brady Risk Program Managers
28 April 2017 | New York | Reporter: Becky Butcher
John Harris has joined Brady Risk Management to head up the company’s newly formed Brady Risk Program Managers
Captive business in Labuan on the rise
28 April 2017 | Kuala Lumpur | Reporter: Becky Butcher
Since Labuan’s first captive was established in 1998, the sector reached approximately 40 captives in 2016, contributing to an aggregated written premium value of $348.6 million
Interest in captives on the up, says Aon
27 April 2017 | London | Reporter: Becky Butcher
More companies are showing an interest in forming new captives or protected cell companies over the next five years, especially in North America, Asia Pacific and the Middle East, according to the new Aon Global Risk Management Survey
Validus ILS business receives generous inflows
27 April 2017 | Hamilton | Reporter: Mark Dugdale
The insurance-linked securities and third-party reinsurance capital business of Validus Holdings, AlphaCat, increased its assets under management to $2.9 billion in Q1 2017
Citadel Risk launches new Tennessee ICC
27 April 2017 | Tennessee | Reporter: Becky Butcher
Citadel Risk has opened a new incorporated cell captive company in Tennessee, Citadel Tennessee Captive Insurance Management
UK general election delays London’s ILS plans
26 April 2017 | London | Reporter: Becky Butcher
The introduction of insurance linked-securities (ILS) legislation could be delayed after UK Prime Minister Theresa May called a snap general election for 8 June
ILS market firing on all cylinders
26 April 2017 | London | Reporter: Mark Dugdale
Q1 2017 saw $1.7 billion of non-life catastrophe bond capacity issued through five insurance-linked (ILS) securities transactions, Willis Towers Watson Securities has reported
York Risk Services appoints chief claims officer
25 April 2017 | New Jersey | Reporter: Becky Butcher
Patrick Walsh has been named the new executive vice president and chief claims officer of York Risk Services Group
Court denies Notice 2016-66 injunction
24 April 2017 | Tennessee | Reporter: Becky Butcher
The US District Court of Eastern District of Tennessee has dealt a blow to micro captives and their managers in the run-up to the 1 May deadline to comply with Notice 2016-66
Exclusive: NCCIA weighs in as 1 May looms
21 April 2017 | Southern Pines | Reporter: Becky Butcher
The NCCIA has filed a third-party observation in support of a lawsuit in federal court seeking a temporary injunction to stop the IRS from implementing Notice 2106-66
A.M. Best affirms National Grid captive
21 April 2017 | London | Reporter: Katherine Brown
A.M. Best has affirmed the financial strength rating of “A (Excellent)” and the long-term issuer credit rating of “a” for the National Grid Insurance Company (NGICL), a captive of National Grid
Cat losses estimated at $8.1 billion so far, says Macquarie
21 April 2017 | Sydney | Reporter: Becky Butcher
Macquarie Research’s catastrophe loss model estimates that losses for Q1 2017 currently stand at $8.1 billion, compared to $9.3 billion during the same period in 2016
R&Q more than triples pre-tax profits in 2016
20 April 2017 | Hamilton | Reporter: Stephanie Palmer
Randall & Quilter, the Bermuda-based non-life insurance investor, saw its year-end profits triple for 2016
Capital supporting reinsurance continues to grow
20 April 2017 | London | Reporter: Becky Butcher
Aggregate shareholders’ funds for companies making up the Willis Re index increased by 4 percent to $344.1 billion in 2016, according to a Willis report
Great American Insurance launches motor captive facility
19 April 2017 | Cincinnati | Reporter: Becky Butcher
Great American Insurance Group has launched a captive offering aimed at motor carriers with independent contractor fleets
A.M. Best downgrades Mountain States RRG
18 April 2017 | Oldwick | Reporter: Becky Butcher
A.M. Best has downgraded the financial strength rating of Mountain States Healthcare (MSH) Reciprocal Risk Retention Group (RRG)
Cayman’s captive industry sees ‘buoyant start’ to 2017
13 April 2017 | George Town | Reporter: Becky Butcher
The Cayman Islands has signed off on eight new insurer licences issued in Q1 2017
Ian Davis replaces Towle as director of financial services
13 April 2017 | Burlington | Reporter: Becky Butcher
Ian Davis is set to replace Dan Towle as the new director of financial services in Vermont
Flood Re appoints Bord as permanent CEO
13 April 2017 | London | Reporter: Becky Butcher
Andy Bord, current interim CEO at Flood Re, has been appointed to the position on a permanent basis
Kieran Rigby named Crawford’s international president
12 April 2017 | Atlanta | Reporter: Becky Butcher
Crawford & Company has promoted Kieran Rigby to president of international, from CEO of Europe and Latin America
John Beckman joins QBE’s North America team
11 April 2017 | | Reporter: Becky Butcher
QBE North America has appointed John Beckman as chief underwriting officer, based in the company’s New York office
New leadership structure for Maxis GBN
10 April 2017 | London | Reporter: Becky Butcher
Maxis Global Benefits Network (GBN), the joint venture between MetLife and AXA, has confirmed its new global leadership team
Aon’s Michael O’Halleran to retire
10 April 2017 | London | Reporter: Becky Butcher
Michael O’Halleran is set to retire from his role as executive chairman of Aon Benfield and senior executive vice president of Aon
BMA gives green light for Butler student captive
10 April 2017 | Indianapolis | Reporter: Becky Butcher
The Bermuda Monetary Authority has granted licensing approval for the MJ Student-Run Insurance Company, the first captive developed and implemented by Butler University College of Business students, and aimed at students
IBT Group’s captive withdraws from A.M. Best ratings
07 April 2017 | Hamilton, Bermuda | Reporter: Becky Butcher
Sorford Surety Insurance Company, the wholly-owned subsidiary of IBT Group, which is a subsidiary of Eurofinsa, has requested to withdraw from A.M. Best’s ratings process
Ikano captive acquired by DARAG
07 April 2017 | Stockholm | Reporter: Becky Butcher
DARAG, a European run-off insurer, has signed a share purchase agreement to acquire all shares of Ikano Försäkring, the Stockholm-based Swedish captive owned by Ikano Group
Self-insurance legislation passes House
06 April 2017 | Washington DC | Reporter: Becky Butcher
The Self-Insurance Protection Act clarifies existing law to ensure that federal regulators cannot re-define stop-loss insurance as traditional health insurance
Aidan Kelly joins Aon
06 April 2017 | Atlanta | Reporter: Becky Butcher
Aidan Kelly has taken on the role of associate director of risk finance and captive consulting at Aon Global Risk Consulting
John Ludlow named new Airmic CEO
06 April 2017 | London | Reporter: Becky Butcher
Airmic has revealed that John Ludlow will be the new CEO of the association, effective 13 June
Stephen Catlin of XL Catlin to retire
05 April 2017 | Hamilton | Reporter: Becky Butcher
Stephen Catlin, executive deputy chairman of XL Catlin, is set to retire at the end of this year
HSP opens new workers’ comp practice
05 April 2017 | New York | Reporter: Becky Butcher
Hanover Stone Partners (HSP) has created WorkersComp Guard, a national practice group to help employers manage workers’ compensation costs
Cawdery plays down Spain-UK tensions over Gibraltar
05 April 2017 | Gibraltar | Reporter: Becky Butcher
Rising political tensions between the UK and Spain over the sovereignty of Gibraltar have been dismissed as a storm in a teacup and a distraction from real post-Brexit issues
Georgia captive bill awaits Governor signoff
05 April 2017 | Atlanta | Reporter: Becky Butcher
The new Georgia captive insurance bill that will offer businesses and captive managers a more efficient method of forming and domiciling a captive in the state has been sent to Governor Nathan Deal for approval
Maxis launches new client portal
04 April 2017 | London | Reporter: Becky Butcher
Maxis Global Benefits Network (GBN), a joint venture between MetLife and AXA, has launched its new client portal and member portal website, as it looks to expand its digital infrastructure
CIC Services files second case against IRS
03 April 2017 | Washington DC | Reporter: Becky Butcher
Captive manager CIC Services has lodged a second lawsuit against the Internal Revenue Service (IRS) and US Treasury in a bid to block Notice 2016-66
SGG Group to acquire Cim Global Business in Mauritius
03 April 2017 | Port Louis | Reporter: Becky Butcher
SGG Group has entered into an agreement with Cim Financial Services to acquire its Global Business sector in Mauritius
Lloyd’s to open Brussels office in light of Brexit
31 March 2017 | Brussels | Reporter: Becky Butcher
Lloyd’s is to open a new EU insurance company in Brussels, after the UK government triggered Article 50 earlier this week, commencing the two-year negotiation process that will end in its exit from the EU
Captive Resources hits $2bn in captive premium
31 March 2017 | Illinois | Reporter: Becky Butcher
Affiliated captives of Captive Resources have reached a combined premium volume exceeding $2 billion
Willis Capital Markets & Advisory rebrands
31 March 2017 | London | Reporter: Becky Butcher
Willis Towers Watson has re-launched Willis Towers Watson Securities, previously known as Willis Capital Markets & Advisory
Tom de Swaan re-elected as Zurich board chair
30 March 2017 | Zurich | Reporter: Becky Butcher
Zurich shareholders have re-elected Tom de Swaan as chairman of the board of directors for a further one-year term
Atlas secures captive manager approval in Texas
28 March 2017 | Charlotte | Reporter: Becky Butcher
Atlas Insurance Management has received approval from the Texas Department of Insurance to act as a manager for captive insurance businesses in the state
TRA Stanford to acquire PHT Services
29 March 2017 | Columbia | Reporter: Becky Butcher
The Risk Authority Stanford (TRA) is expected to acquire PHT Services (PHTS), following unanimous approval by both boards of directors, according to a statement from PHTS
UK finally triggers Brexit
29 March 2017 | London | Reporter: Becky Butcher
The UK has officially pulled the trigger on Article 50 and commenced the two-year negotiation process that will end in its exit from the EU
XL Catlin bolsters structured risk solutions team
29 March 2017 | London | Reporter: Becky Butcher
XL Catlin has named Isa Ennadifi as senior underwriter of structured risk solutions, based in London
Bespoke Software launches inTell Captive
28 March 2017 | Hamilton | Reporter: Mark Dugdale
Bermuda-based Bespoke Software has launched the new business intelligence software solution to help captive managers leverage their data
First insurer formed in Rhode Island under new reg
28 March 2017 | New York | Reporter: Becky Butcher
ProTucket Insurance Company has become the first domestic insurer dedicated to providing run-off portfolio transfer solutions in Rhode Island
Ex-counter terror police officer joins Pool Re
28 March 2017 | London | Reporter: Becky Butcher
Pool Re has named Andrew Sean Donaldson as deputy head of risk analysis, with immediate effect
‘Excellent’ ratings for Pfizer captive
28 March 2017 | Oldwick | Reporter: Becky Butcher
A.M. Best has affirmed the financial strength ratings of “A (Excellent)” of Blue Whale Re, the single-parent captive of pharmaceutical company Pfizer...
Bermuda experts host captive education event in Chile and Peru
28 March 2017 | Hamilton | Reporter: Becky Butcher
The Bermuda Business Development Agency (BDA) is set to host forums in Chile and Peru to discuss the benefits of Bermuda’s captive insurance industry
Guernsey must pay attention to UK’s ILS push, says McLaughlin
27 March 2017 | St Peter Port | Reporter: Becky Butcher
Guernsey should take the UK ‘seriously’ as it sets up an insurance-linked securities (ILS) regime in London, according to Stewart McLaughlin, executive director at Aon Risk Solutions
Grant Thornton Cayman founding partner retires
27 March 2017 | Cayman Islands | Reporter: Becky Butcher
Grant Thornton’s Terry Carson has retired, stepping down from his role as founding partner
Drinker Biddle hires insurance pro in California
24 March 2017 | San Francisco | Reporter: Mark Dugdale
Dan Brown is based in the firm’s San Francisco office. He was previously a partner at Dentons where he was a member of the insurance regulatory practice
Christina Kindstedt joins Advantage Insurance
23 March 2017 | Burlington | Reporter: Becky Butcher
Advantage Insurance has appointed Christina Kindstedt as senior vice president
Delaware to allow captives to go dormant
23 March 2017 | Dover | Reporter: Mark Dugdale
Arkansas and Montana introduced legislation proposing a dormant status for captives last month
EXCLUSIVE: Guernsey considers Solvency II equivalence
23 March 2017 | St Peter Port | Reporter: Becky Butcher
Guernsey is “actively considering” whether it is appropriate to pursue equivalence with the EU’s Solvency II Directive
R&Q acquires another captive in runoff
23 March 2017 | Montpelier | Reporter: Becky Butcher
ICDC had a total net asset value of $7.95 million at the end of 2016. It redomiciled in Vermont in 2015
Second Circuit dismisses ‘shadow insurance’ claims
22 March 2017 | New York | Reporter: Mark Dugdale
The US Court of Appeals for the Second Circuit has parried two attacks against the captive reinsurance transactions of life insurance companies
R&Q bags Bermuda captive
21 March 2017 | Hamilton | Reporter: Mark Dugdale
Randall & Quilter American Holdings has snapped up the Bermuda reinsurance captive of AmeriPride Services and Alsco
Captive industry’s reputation under threat
20 March 2017 | San Diego | Reporter: Becky Butcher
The IRS’s Notice 2016-66 is having negative effects on the reputation of the captive insurance industry, according to Skip Myers and Jim McIntyre
Captive industry meets covered agreement with mixed response
20 March 2017 | San Diego | Reporter: Becky Butcher
Industry response to the covered agreement between the EU and the US has been interesting and varied, according to panellists at the CICA International conference
Steve Bauman departs from Zurich
20 March 2017 | New York | Reporter: Becky Butcher
Steve Bauman has left his role as senior vice president and head of captive services at Zurich Insurance Group, according to multiple sources
New CEO for Robus
17 March 2017 | Guernsey | Reporter: Becky Butcher
Richard Le Tocq will replace Simon Walker as CEO at Robus from 1 July
Securis to track ILS exposure with RMS
17 March 2017 | London | Reporter: Mark Dugdale
Securis Investment Partners has licensed management software from RMS to help tackle the data-rich insurance-linked securities (ILS) sector
Georgia captive reforms almost law
16 March 2017 | Atlanta | Reporter: Mark Dugdale
A new bill is making its way through the Georgia legislature that will soon offer businesses and captive managers a more efficient method of forming and domiciling a captive in the state
Spring Consulting sets up series captive
15 March 2017 | Massachusetts | Reporter: Mark Dugdale
Spring Consulting Group has set up a series captive in Delaware for organisations that do not want to create their own
Sarah Pacini elected CICA board chair
15 March 2017 | San Diego | Reporter: Becky Butcher
Sarah Pacini has been elected chair of the CICA board of directors, replacing Michael Bemi, president and CEO of the National Catholic Risk Retention Group
A bright future for micro captives
15 March 2017 | San Diego | Reporter: Becky Butcher
Captive insurance professionals launched a staunch defence of 831(b) insurers at the CICA International Conference in light of the US Internal Revenue Service’s renewed interest in them
Disruptive technology driving captive growth
15 March 2017 | San Diego | Reporter: Becky Butcher
The rise of technology is driving captive growth, as trickier coverages are required to cover new risks, according to speakers at the CICA International Conference
China and Guernsey regulators sign insurance MoU
14 March 2017 | St Peter Port | Reporter: Mark Dugdale
China and Guernsey’s insurance regulators have signed a memorandum of understanding to make it easier to do business in both jurisdictions
Decision in Avrahami ‘coming soon’
14 March 2017 | Washington DC | Reporter: Mark Dugdale
A decision from the US Tax Court in the closely watched Avrahami litigation is expected soon, according to experts
Dennis Harwick says farewell to the captive industry
13 March 2017 | San Diego | Reporter: Becky Butcher
Dennis Harwick, president of the Captive Insurance Companies Association, thanked the industry as he prepares to step down from the role
Karin Landry and Fiat Lux receive CICA awards
13 March 2017 | San Diego | Reporter: Becky Butcher
Two awards for contributions to the captive insurance industry have been dished out at the Captive Insurance Companies Association International Conference in San Diego
PARIMA surpasses membership milestone
13 March 2017 | Singapore | Reporter: Mark Dugdale
The Pan-Asia Risk & Insurance Management Association had 643 members in Q1 2016. Its membership now stands at 1,084 across 41 countries
Puerto Rico sees interest in cells rise
13 March 2017 | San Juan | Reporter: Mark Dugdale
More than 100 new captive cells formed in Puerto Rico in 2016. The Caribbean island saw 108 cells, as well as one pure captive, form last year
Captives must maintain cyber vigilance
13 March 2017 | New Jersey | Reporter: Mark Dugdale
Certain captive insurers and risk retention groups must remain vigilant against cyber threats, despite exemption from the new rules in effect in New York, according to A.M. Best
Guernsey sees 93 new captives and cells in 2016
10 March 2017 | St Peter Port | Reporter: Becky Butcher
Guernsey welcomed 82 new cells and 11 captives in 2016
HSP welcomes three captive insurance executives
09 March 2017 | New York | Reporter: Becky Butcher
Hanover Stone Partners (HSP) has appointed John Capasso, Jerry Ferris and Evan Busman as senior risk advisors to the company’s captive specialty practice, CaptiveGuard
Lufthansa merges Delvag captives
09 March 2017 | Cologne | Reporter: Becky Butcher
The Lufthansa Group has merged its captive insurance companies Delvag Rückversicherungs-AG (Delvag Rück) and Delvag Luftfahrtversicherungs-AG (Delvag), effective 7 March
Dan Towle gets top CICA job
09 March 2017 | Florida | Reporter: Becky Butcher and Mark Dugdale
Vermont’s Dan Towle is the new president of the Captive Insurance Companies Association
Hiscox appoints group head of catastrophe research
09 March 2017 | London | Reporter: Becky Butcher
Hiscox has named Shree Khare as group head of catastrophe research
Increase in captive use to limit EB cost
09 March 2017 | London | Reporter: Becky Butcher
Multinational pooling and captives are being increasingly used to limit the cost of insurable employee benefits globally, according to research by Willis Towers Watson
Captives ‘exempt’ from New York cyber rules
08 March 2017 | New York | Reporter: Becky Butcher
Captive insurance companies are ‘exempt’ from the new cyber security regulation that came into effect in New York on 1 March
Bruce Wright to chair ABA captive committee
07 March 2017 | New York | Reporter: Becky Butcher
The American Bar Association (ABA) has named Bruce Wright as chair of the captive insurance committee
Julie Page appointed CEO of UK Aon Risk Solutions
07 March 2017 | London | Reporter: Becky Butcher
Julie Page has been named CEO of Aon Risk Solutions in the UK, effective 1 April this year
Arc Legal launches specialist tax product
06 March 2017 | Colchester | Reporter: Becky Butcher
Arc Legal Assistance has launched a new tax product, offering specialty tax investigation insurance for large and small accountancy firms
A.M. Best assigns ‘excellent’ ratings for Split Rock
06 March 2017 | Oldwick | Reporter: Becky Butcher
A.M. Best has assigned a financial strength rating of “A (Excellent)” and a long-term issuer credit rating of “a” to Split Rock Insurance, located in Bermuda
HK to become ‘world class’ captive domicile by 2020
03 March 2017 | Hong Kong | Reporter: Becky Butcher
Hong Kong will become a “world class and leading captive domicile by 2020 with the aim of over five to 10 captives licensed per year and 50 total captives by 2025,” according to the Hong Kong Financial Services Department Council
Pool Re increases reinsurance limit to £2 billion
03 March 2017 | London | Reporter: Becky Butcher
Pool Re has increased its commercial reinsurance cover to £2 billion, compared to the £1.95 billion of cover previously in place
Labuan to focus on niche areas to drive growth
02 March 2017 | Kuala Lumpur | Reporter: Becky Butcher
The Labuan International Business and Financial Centre (IBFC) is to focus on developing niche sectors such as captive insurance in 2017 as part of its strategic plan to develop the jurisdiction
US Treasury issues first TRIPRA data call
01 March 2017 | Washington DC | Reporter: Becky Butcher
The US Treasury will soon be issuing its first terrorism data call under the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) of 2015
‘Good’ ratings for AES captive
28 February 2017 | Oldwick | Reporter: Becky Butcher
A.M. Best has affirmed the financial strength rating of “B+ (Good)” and the long-term issuer credit rating of “bbb-” of AES Global Insurance Company (AGIC)
Connecticut captive bill requires look at micro captives
27 February 2017 | Hatford | Reporter: Becky Butcher
Connecticut has proposed an update to its legislation that would require the insurance commissioner to study the operations of micro captives
Illinois to rewrite captive law
27 February 2017 | Chicago | Reporter: Becky Butcher
The Illinois Department of Insurance has been working with businesses in the state to rewrite the captive insurance article of the Illinois Insurance Code
Apogee Enterprises captive ratings affirmed
27 February 2017 | Oldwick | Reporter: Becky Butcher
A.M. Best has affirmed the financial strength rating of “A- (Excellent)” and the long-term issuer credit rating of “a-” of Prism Assurance, the captive insurance company of Apogee Enterprises
Arkansas to expand captive law
27 February 2017 | Little Rock | Reporter: Becky Butcher
The Arkansas House of Representatives has passed a captive bill that proposes to revise certain provisions related to the formation and operation of captive insurance companies
Catastrophe product launched for LatAm SMEs
24 February 2017 | Panama | Reporter: Stephanie Palmer
Charles Taylor has launched a new asset protection programme for Latin American small and medium-sized enterprises, designed to protect them from the costs of catastrophe insurance deductibles
Aon and SS&C launch ILS platform
23 February 2017 | Pembroke | Reporter: Becky Butcher
Aon Insurance Managers and SS&C Technologies have launched a joint platform intended to simplify insurance linked-securities (ILS) management...
Delaware launches search for new captive director
22 February 2017 | Dover | Reporter: Becky Butcher
The Delaware Department of Insurance is on the hunt for a new director of its bureau of captive insurance and financial products
Potential tax reforms pose questions for captives
22 February 2017 | Burlington | Reporter: Becky Butcher
Captive insurers should pay attention to US President Donald Trump’s proposed tax reforms, but they shouldn’t get in the way of formation, according to JLT Insurance Management’s Anne Marie Towle and Thomas Stokes
Beecher Carlson expands US operations
22 February 2017 | Atlanta | Reporter: Becky Butcher
Beecher Carlson Insurance Services has expanded its operations in the US with the appointment of Keith Newell as managing director
IAIS names new secretary general
22 February 2017 | Basel, Switzerland | Reporter: Becky Butcher
Jonathan Dixon has been named the new secretary general of the International Association of Insurance Supervisors (IAIS), effective following the IAIS Annual Conference in November
Alabama: 2016 ‘a new high point’ for captive growth
21 February 2017 | Montgomery | Reporter: Becky Butcher
The Alabama Department of Insurance has revealed that 11 captives, two protected cell captives and one risk retention group were formed last year
Bermuda captive industry targets US markets
20 February 2017 | Hamilton, Bermuda | Reporter: Becky Butcher
Captive insurance experts in Bermuda are set to host a forum in the US to promote and highlight the advantages of Bermuda as a captive domicile
QBE launches new cyber risk solution
17 February 2017 | New York | Reporter: Becky Butcher
QBE North America has launched a new solution to help protect against the increasing threat of cyber intrusions
Stable outlook for Sony captive
16 February 2017 | New Jersey | Reporter: Becky Butcher
A.M. Best has revised the outlook of Sony Corporation’s Captive, PMG Assurance (Bermuda), from negative to stable
Berkley Accident and Health shakes up captive team
16 February 2017 | New Jersey | Reporter: Becky Butcher
Berkley Accident and Health has named Jim Hoitt as senior vice president of its captive business and appointed Lee Davidson as senior vice president of its stop-loss business...
Utah approves Caitlin Morgan as captive manager
16 February 2017 | Salt Lake City | Reporter: Becky Butcher
Caitlin Morgan Captive Services has been approved by Utah to serve as a captive manager in the state
Captives feature on IRS ‘Dirty Dozen’ list again
16 February 2017 | Washington DC | Reporter: Becky Butcher
The Internal Revenue Service has named micro captives on its ‘Dirty Dozen’ list of tax scams for the third consecutive year
Kevin Doherty joins Dickinson Wright
15 February 2017 | Nashville | Reporter: Becky Butcher
Dickinson Wright has appointed lawyer Kevin Doherty as a member of its Nashville, Tennessee office
Montana introduces dormant status for captives
14 February 2017 | Helena | Reporter: Becky Butcher
Montana’s lawmakers have introduced a new captive bill that will allow inactive captive insurance companies to apply for dormant status
Haddleton to focus on innovation as IMAC chair
14 February 2017 | Grand Cayman | Reporter: Becky Butcher
The new Insurance Managers Association of Cayman (IMAC) chair Linda Haddleton has revealed her goal is to focus on innovation in the captive sector and to “diversify this domicile’s remit”
Bermuda’s licenses 13 new insurers
13 February 2017 | Hamilton | Reporter: Becky Butcher
Bermuda welcomed 13 new captives in 2016, with the majority coming from the US
Guernsey Finance adds Hong Kong representative
13 February 2017 | Hong Kong | Reporter: Becky Butcher
Guernsey Finance has appointed Christopher Chan as its first Hong Kong representative
Natural catastrophe losses top $39 billion
10 February 2017 | London | Reporter: Katherine Brown
Insured loss estimates from major natural catastrophes was around $39.5 billion in 2016, the highest since the annual market losses of $60 billion witnessed in 2012, according to the 2016 summary of natural catastrophe events report from Willis Re
Safety National adds captive services
10 February 2017 | Missouri | Reporter: Katherine Brown
Safety National has added captive services and guaranteed cost workers' compensation to its list of client products
WTW launches BEPS captive product
09 February 2017 | London | Reporter: Becky Butcher
Willis Towers Watson has released a new base erosion and profit sharing (BEPS) product, Radar, for captive owners
January weather hits US with $1bn in losses
09 February 2017 | Chicago | Reporter: Becky Butcher
US January weather economic losses for insurers exceeded $1 billion, after the country recorded the highest amount of tornados in January in the last 17 years, according to Aon Benfield’s Impact Forecasting
Johnson wins kudos for North Carolina programme
08 February 2017 | Raleigh | Reporter: Becky Butcher
North Carolina’s insurance commissioner Mike Causey has congratulated representative Linda Johnson for her help in establishing the captive insurance company programme...
MAXIS Global Benefits opens headquarters in London
08 February 2017 | London | Reporter: Becky Butcher
MAXIS Global Benefits Network, a joint venture between MetLife and AXA, has selected London for its global headquarters, as the firm looks to capitalise on global demand for employee benefits programmes from multinationals...
Steve McGill departs Aon
07 February 2017 | London | Reporter: Barney Dixon
Aon’s group president Steve McGill has stepped down...
Record number of captives for Tennessee in 2016
06 February 2017 | Nashville | Reporter: Becky Butcher
Tennessee licensed a record number of 104 risk bearing entities in 2016, the Tennessee Department of Commerce & Insurance (TDCI) reported...
Kuwait Re’s ratings affirmed
06 February 2017 | London | Reporter: Becky Butcher
A.M. Best has affirmed the financial strength rating of Kuwait Reinsurance Company (Kuwait Re)...
Kroger captives retain 'excellent' ratings
03 February 2017 | Oldwick, New Jersey | Reporter: Katherine Brown
A.M. Best has affirmed the financial strength rating of “A- (Excellent)” and the long-term issuer credit rating of “a” to Queen City Assurance and Vine Court Assurance, both located in Burlington, Vermont...
WCMA: Follow Bermuda’s example for ILS
03 February 2017 | London | Reporter: Becky Butcher
London needs to demonstrate that it can compete with the likes of Bermuda in tax and regulation if it is going to become a hub for insurance-linked securities (ILS), according to a new Willis Capital Markets Advisory (WCMA) report...
'Excellent' ratings for BNY Mellon captives
03 February 2017 | Oldwick, NJ | Reporter: Becky Butcher
A.M. Best has affirmed the ratings of BNY Mellon captives BNY Trade Insurance and The Hamilton Insurance Corporation...
Brexit whitepaper hints at ‘third-country’ status
02 February 2017 | London | Reporter: Mark Dugdale
The UK could adopt ‘third-country’ status in financial services upon its exit from the EU, according to the long awaited Brexit whitepaper...
VCIA members testify the state’s proposed captive bill
02 February 2017 | Montpelier | Reporter: Becky Butcher
VCIA members have moved the recently introduced proposed captive bill another step forward after testifying before the House Commerce and Senate Finance Committee...
North Carolina: 2016 'exceeded expectations'
02 February 2017 | Raleigh | Reporter: Becky Butcher
North Carolina “exceeded expectations” in terms captive insurance growth in 2016, Mike Causey, the state’s insurance commissioner, has reported...
Tennessee proposes captive bill updates
01 February 2017 | Nashville | Reporter: Becky Butcher
Tennessee has started the process to update its captive legislation with a new bill introduced on 31 January...
Barbados: 13 new captives in 2016
01 February 2017 | Bridgetown | Reporter: Becky Butcher
Barbados licensed a total of 13 captives in 2016, according to the Barbados Financial Services Commission...
CICA International Conference fast approaching
01 February 2017 | Minneapolis | Reporter: Becky Butcher
The 2017 Captive Insurance Companies Association (CICA) International Conference is set to offer strategies for defying business disruption with captive insurance...
Guernsey marks 20 years of PCCs
01 February 2017 | St Peter Port | Reporter: Becky Butcher
Guernsey is celebrating the 20 years since the introduction of protected cell companies (PCCs)...
Charles Taylor expands Latin America operations
01 February 2017 | Panama | Reporter: Becky Butcher
Charles Taylor has opened a new office in Panama, expanding its offering of captive insurance services to businesses in Latin America...
Delbridge takes on London leadership role at PwC
31 January 2017 | London | Reporter: Becky Butcher
Paul Delbridge has been named London market insurance leader at PwC...
SIIA: Notice 2016-66 is 'premature'
31 January 2017 | Washington DC | Reporter: Becky Butcher
The Self-Insurance Institute of America (SIIA) has “respectfully requested” in a letter to the Internal Revenue Service (IRS) that it suspends Notice 2016-66, because it is “premature”...
John Hurrell to step down as Airmic CEO
31 January 2017 | London | Reporter: Becky Butcher
Airmic CEO John Hurrell is to step down after nine years in the role...
Nine new shareholders for Primmer
30 Janaury 2017 | Burlington, VT | Reporter: Becky Butcher
Primmer Piper Eggleston & Cramer PC has appointed nine new shareholders to its Vermont and New Hampshire offices...
BVI Finance names board of directors
30 Janaury 2017 | Road Town | Reporter: Becky Butcher
BVI Finance Limited has elected the first nine representatives to form its board of directors...
Role change for William Pang at JLT Re
30 Janaury 2017 | Singapore | Reporter: Becky Butcher
JLT Re has named William Pang as the new managing director of its Philippines office...
Luxembourg and Ireland lead the European SII captive market
30 Janaury 2017 | Munich | Reporter: Becky Butcher
Luxembourg is the leading European captive market regulated by Solvency II, closely followed by Ireland, according to Martin Winkel, an insurance analyst and editor...
XL Catlin expands Indian reinsurance business
27 Janaury 2017 | Mumbai | Reporter: Becky Butcher
XL Catlin’s reinsurance business has received final approval from the Insurance Regulatory Department Authority of India to open an onshore reinsurance branch office in the country...
Positive check-up for dental RRG
26 January 2017 | Oldwick, NJ | Reporter: Becky Butcher
A.M. Best has revised the outlook of Eastern Dentists Insurance Company, a Dental Society risk retention group (RRG), from stable to positive...
Eric Williams given director role at Cover & Rossiter
26 January 2017 | Wilmington, DE | Reporter: Becky Butcher
Cover & Rossiter, a public accounting and advisory firm, has appointed Eric Williams as director of the company...
Drinker Biddle expands US footprint
26 January 2017 | Philadelphia | Reporter: Becky Butcher
Drinker Biddle & Reath is opening a new office in Dallas, Texas, on 1 February, with the addition of 23 lawyers, who all join from Sedgwick LLP...
Compre makes third acquisition this year
25 January 2017 | Stuttgart, Germany | Reporter: Becky Butcher
Compre has acquired Wüstenrot & Württembergische’s (W&W) Ridgwell Fox & Partners pool legacy reinsurance business, for an undisclosed sum...
Healthcare captives lead the way in Vermont
25 January 2017 | Montpelier, VT | Reporter: Becky Butcher
Vermont now has more captives in the healthcare sector than any other, after the state licensed eight new healthcare captives last year...
CapAlt ends 2016 on a high
24 Janaury 2017 | Atlanta | Reporter: Becky Butcher
CapAlt’s premiums under management increased by 40 percent in Q4 2016, CEO Mark Jacobs has revealed...
Aon introduces new cyber captive programme
24 Janaury 2017 | London | Reporter: Becky Butcher
Aon Global Risk Consulting has launched a new cyber captive programme to help clients identify, assess and quantify their cyber exposures...
IRS is attempting to ‘poison the carrot’
24 Janaury 2017 | Washington DC | Reporter: Becky Butcher
The Internal Revenue Service’s (IRS) controversial Notice 2016-66 is an “attempt to poison the carrot” of Section 831(b), according to Sean King, principal of CIC Services...
CRS update has ramifications for Cayman captives
23 January 2017 | Grand Cayman | Reporter: Becky Butcher
Captive insurance professionals need to be aware of certain points arising from the updated Common Reporting Standard Regulations, according to Lucy Frew, partner of Walkers Global...
PwC welcomes new UK insurance leader
23 January 2017 | London | Reporter: Becky Butcher
PwC has appointed Jim Bichard to lead its UK insurance practice, replacing Johnathan Howe, who has led the practice since 2013...
Zale Indemnity assigned ‘stable’ outlook
20 January 2017 | Oldwick, New Jersey | Reporter: Becky Butcher
A.M. Best has revised the outlook of Zale Indemnity Company and its wholly-owned subsidiary, Zale Life Insurance Company, from positive to stable...
R&Q issues $20m of subordinated notes
20 January 2017 | Bermuda | Reporter: Becky Butcher
Randall & Quilter (R&Q) Re Bermuda has issued a total of $20 million in floating-rate subordinated notes, due December 2023...
Aon: Asia captive market growing at a ‘steady pace’
20 January 2017 | Singapore | Reporter: Becky Butcher
Asia is experiencing an unprecedented level of sophistication within captive owners, according to Aon’s Asia Market Review 2017...
Texas to introduce a reinsurance structure
20 January 2017 | Houston | Reporter: Becky Butcher
Texas has put forward a new captive bill, HB 1187, proposing the introduction of non-affiliated reinsurance, reciprocal captive structures in the state...
Global natural catastrophe events hit $210bn in 2016
20 Janaury 2017 | Chicago | Reporter: Becky Butcher
During 2016, 315 natural catastrophe events occurred, generating $210 billion of global economic losses, according to Aon’s catastrophe report...
‘Phenomenal year’ for Cayman captives
19 January 2017 | Cayman Islands | Reporter: Becky Butcher
The Cayman Islands welcomed 39 new insurer licences in 2016, as well as two new portfolio insurance companies...
South Carolina welcomes 17 new captives
19 January 2017 | Columbia, SC | Reporter: Becky Butcher
The South Carolina Department of Insurance licensed 17 new captive insurance companies last year, down by 13 compared to the 30 in 2015...
Vermont proposes fresh changes to captive bill
19 January 2017 | Burlington | Reporter: Becky Butcher
Vermont’s annual update of its captive legislation is underway, with a new bill introduced to the legislature this week...
Oklahoma's John Doak named representative to OECD
19 January 2017 | Washington DC | Reporter: Becky Butcher
The National Association of Insurance Commissioners has named John Doak, the Oklahoma insurance commissioner, as its representative to the OECD...
Tina Bukow takes on new role at KBRA
19 January 2017 | New York | Reporter: Becky Butcher
Kroll Bond Rating Agency (KBRA) has named Tina Bukow as senior director of business development for the insurance ratings initiative...
StrucSure Risk Management welcomes new president
19 January 2017 | Colorado | Reporter: Becky Butcher
StrucSure Risk Management (SRMG) has appointed Richard Poling as its new president, as of 18 January...
SOBC Sandell marks its first transaction
18 January 2017 | Montana | Reporter: Becky Butcher
SOBC Sandell, a joint venture between SOBC Corp and Sandell Re, has completed its first transaction, acquiring PIA Captive, a Montana based company...
NAIC welcomes 2017’s committee leadership
18 January 2017 | Washington DC | Reporter: Becky Butcher
The National Association of Insurance Commissioners (NAIC) has named its committee chairs and vice chairs for 2017...
Linda Haddleton begins new role as IMAC chair
18 January 2017 | George Town, Grand Cayman | Reporter: Becky Butcher
Linda Haddleton is set to start her new role as chair of the Insurance Managers Association of Cayman (IMAC) at its annual general meeting this month...
Compre bags another business in run-off
18 January 2017 | Luxembourg | Reporter: Becky Butcher
Compre has acquired an insurance and reinsurance business in run-off at Swiss Re International in Luxembourg, for an undisclosed sum...
Positive captive growth for Utah
17 January 2017 | Utah | Reporter: Becky Butcher
The Utah Captive Insurance Division licensed 68 new captive insurance companies in 2016, as well as 13 cell captive companies...
Vermont: 26 new captives in 2016
17 January 2017 | Burlington, Vermont | Reporter: Becky Butcher
The Vermont Department of Insurance licensed 26 new captives in 2016...
Crawford appoints Geoff Piggot as new CEO
17 January 2017 | London | Reporter: Becky Butcher
Crawford & Company has named Geoff Piggot as the new CEO of its global technical services...
States ‘disappointed’ with EU-US insurance deal
17 January 2017 | Washington DC | Reporter: Becky Butcher
National Association of Insurance Commissioners (NAIC) president Ted Nickel has described the covered agreement between the US and EU as “disappointing”...
Post-Brexit passporting could be a reality
17 January 2017 | London | Reporter: Mark Dugdale
UK Prime Minister Theresa May’s desire for a “smooth and orderly” departure from the EU could mean some form of reciprocal passporting for captive owners writing insurance in and out of their respective jurisdictions...
Health insurance data breach affects many in Delaware
16 January 2017 | Delaware | Reporter: Becky Butcher
A health insurance data breach has affected approximately 19,000 people with employer-paid plans in Delaware, according to the Delaware Department of Insurance...
Flood Re appoints interim CEO
16 January 2017 | London | Reporter: Becky Butcher
Andy Bord, previously CEO at Capita Insurance Services, has been named as interim CEO of Flood Re...
US and EU agree insurance deal
16 January 2017 | Washington DC | Reporter: Becky Butcher
US insurers and reinsurers will now be able to compete in EU markets without having to meet Solvency II requirements, after the completion of a long-mooted covered agreement between the US and the EU...
Tracy Stopford changes roles at WTW
13 January 2017 | Maryland | Reporter: Becky Butcher
Tracy Stopford has taken on the new role of senior vice president and operations director of WTW North America...
US MGU teams up with Gilsbar
13 January 2017 | Louisiana | Reporter: Becky Butcher
Gilsbar has been selected as a partner by United States Managing General Underwriters (US MGU) to administer its level-funded health plan option for small employers...
Gibraltar rocks up in China
13 January 2017 | Gibraltar | Reporter: Becky Butcher
Gibraltar could become the home for a number of new Chinese captives, according to Albert Isola MP, minister for commerce for HM Government of Gibraltar after Gibraltar Finance met with the Captive Specialised Committee of the Insurance Society of Ch
AJG shakes up employee benefits team
13 January 2017 | Illinois | Reporter: Becky Butcher
James Durkin currently president of Arthur J Gallagher’s (AJG) employee benefits division has been appointed to the newly created role of chairman...
BSX celebrates ILS record
12 January 2017 | Hamilton | Reporter: Mark Dugdale
The Bermuda Stock Exchange has reported record insurance-linked securities listings in 2016...
Business interruption remains top concern
11 January 2017 | London | Reporter: Becky Butcher
Companies increasingly worry about the unpredictable business environment where markets are volatile and political perils, such as terrorism, are on the rise, according to the Allianz Risk Barometer 2017...
Exclusive: Missouri licenses five new captives
10 January 2017 | Missouri | Reporter: Becky Butcher
The Missouri Department of Insurance licensed four captives in December 2016, plus another one so far this year...
New vice president of hospitals and captives at CNA
10 January 2017 | Chicago | Reporter: Becky Butcher
CNA Healthcare has named Chris Heckman as its new vice president of hospitals and captives...
IW&I launch Solvency II reporting solution
10 January 2017 | London | Reporter: Becky Butcher
IW&I has launched a fully-automated Solvency II reporting solution for financial mutual and insurance companies, allowing clients to have a “comprehensive” investment proposition...
Crawford appoints new COO
09 January 2017 | Atlanta | Reporter: Becky Butcher
Crawford & Company has named Andrew Robinson as the company’s new global COO...
FiscalReps names new client director
09 January 2017 | London | Reporter: Becky Butcher
FiscalReps has appointed Nazaret Gonzalez to the role of client director in its insurance department...
R&Q completes Arizona captive novation
06 January 2017 | Arizona | Reporter: Becky Butcher
Randall & Quilter (R&Q) Investment Holdings has completed the novation of liabilities from PacWest Captive Insurance Company, an Arizona-domiciled entity...
Compre buys business in run-off
06 January 2017 | London | Reporter: Becky Butcher
Compre has agreed to acquire the UK branch of AG Insurance SA, an insurance and reinsurance business in run-off, for an undisclosed figure...
NORCAL completes PPM RRG acquisition
05 January 2017 | San Francisco | Reporter: Becky Butcher
NORCAL Mutual Insurance Company has completed the acquisition of PPM Services, the holding company for Preferred Physicians Medical Risk Retention Group (PPM)...
R&Q acquires Clariant captive
05 January 2017 | Floriana, Malta | Reporter: Becky Butcher
R&Q Insurance Malta has purchased the total issued share capital of Clariant AG, the Liechtenstein-registered captive insurer of Clariant, a Swiss specialty chemical company...
LMA clarifies cat model uncertainties in new guide
05 January 2017 | London | Reporter: Becky Butcher
The Lloyd’s Market Association (LMA) has launched a new catastrophe modelling guide designed to educate the industry on the complexities and uncertainties these models involve...
Oklahoma approves Atlas as captive manager
04 January 2017 | North Carolina | Reporter: Becky Butcher
Atlas Insurance Management has been accepted by the Oklahoma Department of Insurance to act as a manager for captive insurance business in the state...
Capstone Associated expands Midwest captive team
04 January 2017 | Houston, Texas | Reporter: Becky Butcher
Capstone Associated Services has appointed Steven Lonergan as director of business development for the Midwest US...
IRS extend Notice 2016-66 deadline
04 January 2017 | Washington DC | Reporter: Becky Butcher
The Internal Revenue Service (IRS) has granted a 90-day extension the deadline for 831(b) captives that need to comply with the Notice 2016-66...
GFSC updates rules for ILS
04 January 2017 | St Peter Port | Reporter: Becky Butcher
The Guernsey Financial Services Commission (GFSC) has released a new set of rules to clarify the regulatory treatment of collaterised reinsurance, including insurance-linked securities (ILS)...
R&Q completes novation of Coca-Cola captive
03 January 2017 | Bermuda | Reporter: Becky Butcher
Randall & Quilter Investment Holdings has completed the novation by Georgia Atlantic Insurance, a wholly owned, Bermuda-based captive, of the Coca-Cola Bottlers’ Association...
Skanska sells Luxembourg captive
23 December 2016 | Östersund | Reporter: Becky Butcher
Construction company Skanska has sold 100 percent of its share capital in its Luxembourg captive, Scem Reinsurance, to ArcelorMittal, a steel and mining company...
Moody’s: Clarified captive exposures raise concerns
22 December 2016 | New York | Reporter: Becky Butcher
Disclosure of captive exposures to certain long-term and universal life insurance policies has improved among life insurers, but it has also revealed additional problems, according to Moody’s Investors Service...
Acuity Investment eyes up Pro Global company
22 December 2016 | London | Reporter: Becky Butcher
Private equity firm Acuity Investment has released a proposal to acquire a Pro Global Insurance Services company, subject to shareholder and regulatory approval...
SARRG’s ratings downgraded
21 December 2016 | Oldwick, New Jersey | Reporter: Becky Butcher
A.M. Best has downgraded the financial strength rating of Security America Risk Retention Group (SARRG), based in Burlington, Vermont, from “B++ (Good)” to “B+ (Good)”...
Leadership changes at Greenlight Re
21 December 2016 | George Town, Cayman Islands | Reporter: Becky Butcher
Barton Hedges, CEO of Greenlight Re, will step down from the role after 11 years of service, effective from 31 March next year...
JLT acquires StoneHill Reinsurance
20 Decemeber 2016 | Philadelphia | Reporter: Becky Butcher
JLT Re has purchased StoneHill Reinsurance Partners, a reinsurance intermediary focusing on medical professional liability...
NAIC elects 2017 officers
19 December 2016 | Washington DC | Reporter: Becky Butcher
Members of the National Association of Insurance Commissioners (NAIC) have elected the association’s officers for 2017...
BDA names two new board members
19 December 2016 | Hamilton | Reporter: Becky Butcher
The Bermuda Business Development Agency (BDA) has appointed Andrea Jackson and Stephen Weinstein to its board of directors...
CapAlt increases captive offering in Puerto Rico
19 December 2016 | Atlanta | Reporter: Becky Butcher
Captive Alternatives (CapAlt) has received permission from the commissioner of insurance in Puerto Rico to increase the client base for its Protected Captive product to 2,000...
ILS could be a ‘game changer’
16 December 2016 | London | Reporter: Becky Butcher
UK government advisor Michael Wade opened the recent City & Financial Global’s conference on insurance-linked securities (ILS) in London by calling the introduction of a bespoke regime for the popular financial instruments a potential “game chang
CapAlt launches new merchant services programme
15 December 2016 | Atlanta | Reporter: Becky Butcher
Captive Alternatives (CapAlt) has launched a new programme that allows membership associations to provide a fee-based merchant services programmes to members, eliminating merchant services commissions..
Mary O’Connor to lead WTW business development
14 December 2016 | London | Reporter: Becky Butcher
Mary O’Connor is set to lead the client and business development function for Willis Towers Watson, alongside her role to co-lead the global financial institutions industry group...
Ratings affirmed for Nissan captive
13 December 2016 | Oldwick, New Jersey | Reporter: Becky Butcher
A.M. Best has affirmed the financial strength ratings of “A- (Excellent)” and the long-term issuer credit rating of "a-" of Nissan Global Reinsurance (NGRe), the captive insurer of Nissan Motor Company, located in Bermuda...
‘Excellent’ ratings for Telefonica captive
13 December 2016 | London | Reporter: Becky Butcher
A.M. Best has assigned a financial strength rating of “A- (Excellent)” and a long-term issuer credit rating of “a-” to Nova Casiopea Re (NCRe), the captive reinsurer of Telefonica, a Spanish broadband and telecommunications provider...
Aon to manage Butler University captive
13 December 2016 | Indianapolis | Reporter: Becky Butcher
Aon will manage the new Butler University College of Business student-run captive insurance company, due to launch on 1 May 2017, it has announced...
NAIC name Michael Consedine as new CEO
13 December 2016 | Florida | Reporter: Becky Butcher
The National Association of Insurance Commissioners (NAIC) has appointed former Pennsylvania insurance commissioner Michael Consedine as CEO, effective early 2017...
Vanliner Insurance appoints new president
13 December 2016 | Missouri | Reporter: Becky Butcher
Vanliner Insurance Company, an insurance provider in the moving and storage industry, has appointed Matthew Grimm as president...
Co-CEO departs in Tokio Solution reshuffle
12 December 2016 | Hamilton, Bermuda | Reporter: Stephanie Palmer
Tokio Solution Management, the third party capital markets facilitation arm of Tokio Millennium Re, has simplified its structure, leading to the departure of co-CEO Susan Lane...
A.M. Best affirms Schlumberger and CNOOC captives
09 December 2016 | Oldwick, New Jersey | Reporter: Becky Butcher
A.M. Best has affirmed the financial strength rating of “A (Excellent)” and the long-term issuer credit rating of “a” of Schlumberger Limited’s captive insurance companies...
DIMA to merge with Insurance Ireland
08 December 2016 | Dublin | Reporter: Becky Butcher
The Dublin International Insurance and Management Association (DIMA) will merge with Insurance Ireland in 2017...
Iowa insurance commissioner resigns
07 December 2016 | Iowa | Reporter: Becky Butcher
Nick Gerhart, insurance commissioner for Iowa, is to step down from his role, effective 23 December...
Pinnacle adds senior consulting actuary
06 December 2016 | Bloomington, Illinois | Reporter: Becky Butcher
Pinnacle Actuarial Resources has appointed Linda Brobeck as senior consulting actuary in the company’s San Francisco office...
Captive Resources to relocate world headquarters
06 December 2016 | Illinois | Reporter: Becky Butcher
Captive Resources is set to move from its current world headquarters building in...
CapAlt launches new captive accounting service
06 December 2016 | Atlanta | Reporter: Becky Butcher
Captive Alternatives (CapAlt) has launched a new captive accounting services business unit, CapSure Accounting...
Moody’s upgrades Stein Insurance's outlook
06 December 2016 | Sydney | Reporter: Becky Butcher
Moody’s Investors Service has revised the rating outlook of Stein Insurance Company, the core captive insurance subsidiary BHP Billiton, from negative to stable...
Ironshore acquired for estimated $3 billion
05 December 2016 | Boston | Reporter: Stephanie Palmer
Liberty Mutual Insurance has agreed to acquire specialty lines company Ironshore for an estimated $3 billion...
Jeremy Pinchin to leave Hiscox Bermuda
05 December 2016 | Hamilton | Reporter: Mark Dugdale
Jeremy Pinchin is stepping down from his Bermuda leadership roles at Hiscox...
MagMutual acquires Tift Area Captive
02 December 2016 | Atlanta, Georgia | Reporter: Becky Butcher
MagMutual has acquired Tift Area Captive Insurance Company, which was previously owned by a group of Georgia-based physicians...
ASRRG ratings downgraded
01 December 2016 | Atlanta | Reporter: Barney Dixon
A.M. Best has downgraded the American Safety Risk Retention Group (ASRRG), but also revised its outlook upwards to ‘stable’...
Pinnacle hires consulting expert
01 December 2016 | Atlanta | Reporter: Barney Dixon
Pinnacle Actuarial Resources has hired Terrence Wright as consulting actuary in its Atlanta office...
Arsenal Insurance acquires Texas captive manager
30 November 2016 | Montgomery, Alabama | Reporter: Becky Butcher
Arsenal Insurance Management has completed the purchase of Jade Risk, a captive manager based in Texas...
HSP appoints new senior risk advisor
29 November 2016 | New York | Reporter: Becky Butcher
Hanover Stone Partners has appointed Paul Petrylak as senior risk advisor of financial product advisory, based in New York...
FiscalReps unveils its new tax database and software
29 November 2016 | London | Reporter: Becky Butcher
FiscalReps has launched Taxbox2 at the company’s Indirect Tax Academy event in London...
Exclusive: Marsh supports FERMA's captive education
29 November 2016 | London | Reporter: Becky Butcher
Marsh has commended the FERMA's efforts to create a constructive dialogue with the OECD about the role of captives in BEPS...
PARIMA teams up with ANZIIF
28 November 2016 | Singapore | Reporter: Becky Butcher
PARIMA has partnered with the ANZIIF to provide risk professionals based in the Asia Pacific region with designation and education...
Exclusive: Advisers should act now on Notice 2016-66
28 November 2016 | Washington DC | Reporter: Becky Butcher
Advisers should not take a “wait and see” approach to the Internal Revenue Service’s (IRS) Notice 2016-66, according to Rachel Partain, member of law firm Caplin & Drysdale...
Tate & Lyle’s captive celebrates 10 years in service
28 November 2016 | Gibraltar | Reporter: Becky Butcher
Tate & Lyle is celebrating the 10th anniversary of its Gibraltar-domiciled captive insurance company...
Negative outlook for HAI Group
25 November 2016 | Oldwick | Reporter: Becky Butcher
HAI Group has had its financial strength and long-term issuer credit ratings affirmed, but the outlooks for both have been revised down...
Saipem captive given ‘excellent’ rating
24 November 2016 | London | Reporter: Becky Butcher
A.M. Best has assigned the financial strength rating of “A- (Excellent)” and the long-term issuer credit rating of “a-“ to Sigurd Rück, the captive reinsurer of Saipem, domiciled in Switzerland...
R&Q completes first US-based self insurer novation
24 November 2016 | Maryland | Reporter: Becky Butcher
Randall & Quilter Investment Holdings (R&Q) has completed its first US-based self-insurer novation...
Stephen Burr joins Pool Re
24 November 2016 | London | Reporter: Becky Butcher
Pool Re has appointed Stephen Burr as head of actuarial services, with immediate effect...
UK opens up second set of ILS proposals
23 November 2016 | London | Reporter: Becky Butcher
The UK government has released its second consultation on the implementation of an insurance-linked securities (ILS) regime...
Increased concern for SMEs over cybercrime
23 November 2016 | Zurich | Reporter: Becky Butcher
The risks posed by cyber crime are a fast-growing concern for small and medium-sized enterprises (SMEs), according to Zurich Insurance Group’s annual global SME survey...
Colorado senator shares his concern over IRS notice
23 November 2016 | Denver | Reporter: Becky Butcher
Colorado senator Michael Bennett is the latest figure to criticise Notice 2016-66...
HAI Group purchases housing inspection software
22 November 2016 | Connecticut | Reporter: Becky Butcher
HAI Group has acquired InspectUS housing inspection software from Inspection Group...
Spirit and Radius ratings affirmed
22 November 2016 | Oldwick, New Jersey | Reporter: Becky Butcher
A.M. Best has affirmed the financial strength ratings of “A (Excellent)” and long-term issuer credit ratings of “a” for Spirit Insurance Company and Radius Insurance Company, captives of Phillips 66...
BNY Mellon launches medical claims platform
21 November 2016 | New York | Reporter: Becky Butcher
BNY Mellon has launched an automated medical claims payment platform for its property and casualty insurance clients...
NORCAL buys Preferred Physicians Medical RRG
18 November 2016 | Kansas | Reporter: Becky Butcher
NORCAL Mutual Insurance Company has acquired PPM Services, the holding company for Preferred Physicians Medical Risk Retention Group (PPM)...
SIIA requests Notice 2016-66 extension from IRS
17 November 2016 | Washington DC | Reporter: Becky Butcher
The Self-Insurance Institute of America (SIIA) has asked the Internal Revenue Service (IRS) to grant more time to 831(b) captives that need to comply with Notice 2016-66...
CapAlt offers captive services to MediGroup
17 November 2016 | Atlanta | Reporter: Becky Butcher
Captive Alternatives (CapAlt) has entered into a sponsorship agreement with MediGroup Physician Services to provide captive start-up services to its members...
Timing of micro-captive notice is ‘perplexing’
16 November 2016 | Washington DC | Reporter: Becky Butcher
The timing of the US Internal Revenue Service (IRS) and Treasury's notice on micro-captive insurance arrangements is “perplexing”, according to captive audit defense expert Tim Tarter...
Stable outlook for JPMorgan Chase captive
16 November 2016 | Oldwick, New Jersey | Reporter: Becky Butcher
A.M. Best has affirmed the financial strength rating of “A (Excellent)” and the long-term issuer credit rating of “a” of Park Assurance Company, the single parent captive of JPMorgan Chase & Co...
Fox Rothschild wins approval for New Jersey captive
16 November 2016 | New Jersey | Reporter: Becky Butcher
The State of New Jersey’s department of banking and insurance has given Fox Rothschild the approval for an on-shore captive insurance company to insure underground storage tanks...
New group captive for Artex
16 November 2016 | Grand Cayman | Reporter: Becky Butcher
Artex has launched a new heterogeneous group captive, Command, domiciled in Grand Cayman...
Capita EB strengthens senior investment team
15 November 2016 | London | Reporter: Becky Butcher
Capita Employee Benefits has expanded its senior investment team, adding three new hires to its investment consultancy practice and promoting one existing team member...
The Chelsea Group acquires Security Exchange
15 November 2016 | London | Reporter: Becky Butcher
The Chelsea Group has purchased Security Exchange, a security risk management company...
Argo Group acquires Ariel Re
15 November 2016 | Hamilton, Bermuda | Reporter: Becky Butcher
Argo Group has acquired Ariel Re, an underwriter of insurance and reinsurance business, for around $235 million...
Anne Marie Towle leaves Willis for JLT
14 November 2016 | Burlington, Vermont | Reporter: Becky Butcher
JLT Insurance Management (JLTIM) has appointed Anne Marie Towle as executive vice president and captive consulting practice leader, effective 1 January...
Negative outlook for China Railway captive
14 November 2016 | Hong Kong | Reporter: Becky Butcher
The China Railway Captive Insurance Company has received an "A2" financial strength rating with a negative outlook from Moody’s Investors Service...
Evergreen Insurance ratings downgraded
14 November 2016 | Hong Kong | Reporter: Becky Butcher
A.M. Best has downgraded the financial strength rating of Evergreen Insurance Company (EICL), located in Bermuda from “A (Excellent)” to “A- (Excellent)”...
Alternative capital and ILS markets continue to expand
11 November 2016 | New York | Reporter: Becky Butcher
The input of alternative capital into the global reinsurance market is continuing to increase, bringing it closer to a convergence in which traditional providers will become conduits to the capital markets...
Beazley hires reinsurance underwriter
11 November 2016 | Miami | Reporter: Becky Butcher
Stephan Vieira has joined the Beazley specialty surety treaty unit as a reinsurance underwriter, in the firm’s Miami office...
ACA on its last legs, says Fitch
10 November 2016 | Washington DC | Reporter: Mark Dugdale
Republican control of the White House and Congress will likely result in the repeal and replacement of the Affordable Care Act, according to Fitch Ratings...
GC updates its capital modelling tool
10 November 2016 | New York | Reporter: Becky Butcher
Guy Carpenter & Company has launched two updates for its capital modelling tools, MetaRisk and MetaRisk Reserve...
Hurricane to cost US and Caribbean $15 billion
10 November 2016 | Chicago | Reporter: Becky Butcher
Last month’s Hurricane Matthew could cost the US and Caribbean combined economic losses of approximately $15 billion, according to Aon Benfield’s Impact Forecasting team...
Berkley and ProSential launch stop-loss group captive
10 November 2016 | Massachusetts | Reporter: Becky Butcher
Berkley Accident and Health has teamed up with ProSential Group to launch ProSential Cap, a stop-loss group captive...
ECF: Captives crucial to employee wellness initiatives
10 November 2016 | Luxembourg | Reporter: Stephanie Palmer
Employee benefit healthcare should be included with other loss prevention programmes in captives, according to speakers at the European Captive Forum in Luxembourg yesterday...
Captives at the forefront of Asia, says Guernsey
09 November 2016 | Hong Kong | Reporter: Barney Dixon
Captives are going to be at the “forefront of innovation in Asia’s insurance market”, according to Guernsey Finance representatives speaking at its insurance master class event in Hong Kong...
Trump stumps markets, world
09 November 2016 | New York | Reporter: Drew Nicol
Property magnate and reality TV star Donald Trump has defied all expectations to become the 45th US president, immediately throwing global markets into turmoil...
Aon offers protection against GDPR
09 November 2016 | London | Reporter: Mark Dugdale
Aon has released a new solution to help organisations prepare for implementation of the EU’s General Data Protection Regulation...
ECF: It’s up to captives to prove their worth
09 November 2016 | Luxembourg | Reporter: Stephanie Palmer
It is the responsibility of owners to prove that their captives are equipped to take on and manage their risk, and that they do not exist purely for tax reasons, according to speakers at the European Captive Forum in Luxembourg...
ECF: Challenges gather pace in captive business
09 November 2016 | Luxembourg | Reporter: Becky Butcher
Solvency II, infrastructure costs, BEPS and Brexit are just some of the challenges that European captives are currently facing, according to Ciaran Healy, director of consulting for the global captive practice at Willis...
ECF: Door still open for proportionality
08 November 2016 | Luxembourg | Reporter: Stephanie Palmer
Industry professionals called for proportionality and harmonisation in the implementation and enforcement of Solvency II in a panel discussion at the European Captive Conference in Luxembourg...
ECF: Associations assemble
08 November 2016 | Luxembourg | Reporter: Becky Butcher
Collaboration between captive associations can be a powerful tool to fight threats to the industry, according to panellists at the European Captive Forum...
FiscalReps reinforces in Europe
08 November 2016 | Paris | Reporter: Barney Dixon
FiscalReps senior client manager Christophe Bourdaire has moved from the UK to France...
Greenlight Re suffers rating drop
08 November 2016 | Grand Cayman | Reporter: Mark Dugdale
Greenlight Reinsurance has had its financial strength rating reduced due to a poor run of underwriting results...
ECF: Captives need a tailor-made regime
08 November 2016 | Luxembourg | Reporter: Becky Butcher
A one-size-fits-all application of Solvency II to captives should be replaced with a tailored regime, according to Annick Felten, member of Luxembourg’s insurance supervisor, the Commissariat aux Assurances...
R&Q agrees run-off arrangement
07 November 2016 | Dublin | Reporter: Becky Butcher
Randall & Quilter Investment Holdings has agreed an arrangement with the Law Society of Ireland in respect of the run-off obligations of the Solicitors Mutual Defence Fund (SMDF)...
Pizza captive delivery for Vermont
04 November 2016 | Burlington, Vermont | Reporter: Becky Butcher
Vermont has licensed five pure captives and one risk retention group since July this year, according to David Provost, deputy commissioner of the captive insurance division at Vermont’s Department of Financial Regulation...
Humboldt Re’s ratings affirmed
04 November 2016 | London | Reporter: Becky Butcher
A.M. Best has affirmed the financial strength rating of “A- (Excellent)” and the long-term issuer credit rating of “a-“ for Humboldt Re, located in Guernsey...
Captives catch the attention of Labuan IBFC
04 November 2016 | Labuan | Reporter: Becky Butcher
The Labuan International Business and Financial Centre (IBFC) has turned its focus to niche financial areas with high growth potential, such as captives, according to a report...
Ninth Circuit upholds LRRA preemption
03 November 2016 | California | Reporter: Becky Butcher
The US Court of Appeals for the Ninth Circuit has upheld the federal Liability Risk Retention Act (LRRA) preemption status, in Attorneys Liability Protection Society (ALPS) v Ingaldson Fitzgerald...
A.M. Best: Japanese captives remain underutilised
03 November 2016 | Hong Kong | Reporter: Becky Butcher
With Japan having one of the largest commercial insurance markets in the world, its captive insurance industry remains underutilised, according to a new A.M. Best briefing...
Unscrupulous 831(b) transactions still to be defined
02 November 2016 | Washington DC | Reporter: Becky Butcher
The US Treasury and the Internal Revenue Service are seeking feedback on which 831(b) arrangements should be identified specifically as a tax avoidance transaction...
‘Excellent’ ratings for Duke Energy captive
02 November 2016 | Oldwick, New Jersey | Reporter: Becky Butcher
A.M. Best has affirmed the “A (Excellent)” financial strength rating of Bison Insurance Company, the captive of Duke Energy Corporation, located in Charleston, South Carolina...
DCIA joins associations seeking regulatory guidance
02 November 2016 | Delaware | Reporter: Becky Butcher
The Delaware Captive Insurance Association (DCIA) has teamed up with 15 other captive associations, including the SIIA, to request guidance on recent changes regarding enterprise risk captives...
Marubeni captive ratings affirmed
01 November 2016 | Hong Kong | Reporter: Becky Butcher
A.M. Best has affirmed the financial strength rating of “A- (Excellent)” of Marble Reinsurance Corporation (Marble Re), the single parent captive of the Marubeni Corporation...
Marc Graveney joins London & Capital
01 November 2016 | London | Reporter: Becky Butcher
London & Capital has named Marc Graveney as its chief digital officer...
European captives continue to show their ART appeal
01 November 2016 | London | Reporter: Becky Butcher
Owners of European captives continue to see value in using them, despite prevailing weak premium rates and widening terms and conditions in large sections of the general insurance market, according to an A.M. Best report...
Former British Gas captive manager joins Alesco
31 October 2016 | London | Reporter: Becky Butcher
John Smith, former manager of the British Gas captive, has been appointed as partner of Alesco’s energy division...
Golden Insurance Company losing its shine
28 October 2016 | Oldwick, New Jersey | Reporter: Becky Butcher
A.M. Best has revised the outlook of Golden Insurance Company, a risk retention group, from stable to negative...
Verisk Analytics acquires Analyze Re
28 October 2016 | New Jersey | Reporter: Mark Dugdale
Verisk Analytics has acquired a software analytics provider for the reinsurance and insurance industries for an undisclosed sum...
Atlas Insurance shakes up executive team
27 October 2016 | Charlotte, North Carolina | Reporter: Becky Butcher
Atlas Insurance Management has restructured its executive management team to accommodate an increase in business demand within its Charlotte and Cayman Islands offices...
Steel City Re to protect Hamilton’s captive reps
27 October 2016 | Pittsburg | Reporter: Becky Butcher
Hamilton Captive Management has chosen Steel City Re to provide customised reputational risk underwriting services to a number of its captive clients...
Cayman ahead of 2015’s captive figures
26 October 2016 | George Town, Grand Cayman | Reporter: Becky Butcher
The Cayman Islands welcomed 10 new captives between 1 July and 30 September this year, according to the Insurance Managers Association of Cayman (IMAC)...
Ilka McHugh joins Fiscal Reps
26 October 2016 | London | Reporter: Becky Butcher
Fiscal Reps has appointed Ilka McHugh as client director of technology...
SIIA calls for guidance on which PATH to take
25 October 2016 | Washington DC | Reporter: Becky Butcher
The Self-Insurance Institute of America (SIIA), in collaboration with 15 state captive insurance associations, has requested guidance and clarification around the PATH Act revisions to Section 831(b)...
SIIA appoints Michael Madden as chair
25 October 2016 | Bermuda | Reporter: Becky Butcher
The Self-Insurance Institute of America (SIIA) has named Michael Madden of Artex as chair of its captive insurance committee...
US agency ‘incorrectly’ banned captive reinsurance arrangement
25 October 2016 | Washington DC | Reporter: Becky Butcher
The US Court of Appeals for the District of Columbia Circuit has overruled the Consumer Financial Protection Bureau’s (CFPB) decision to prohibit PHH Corporation’s captive reinsurance arrangement...
Beecher Carlson upgrades cyber risk tool
24 October 2016 | Atlanta | Reporter: Becky Butcher
Beecher Carlson Insurance Services has teamed up with SecurityScorecard to enhance its cyber risk evaluation and monitoring tool, CyberSelect...
CICA: 25 percent have not started planning for Brexit
21 October 2016 | Minneapolis | Reporter: Becky Butcher
A quarter of captive professionals have not yet even considered contingency planning for the UK’s exit from the European Union, according to a webinar hosted by CICA...
Graeme Harley joins JLT Re Indonesia
20 October 2016 | Jakarta | Reporter: Becky Butcher
JLT Re has welcomed Graeme Harley as managing director of JLT Re Indonesia, pending regulatory approval...
Inga Ivsan joins Black, Srebnick, Kornspan & Stumpf
19 October 2016 | Miami | Reporter: Becky Butcher
Inga Ivsan has departed Swiss Private Wealth, where she served as manager, to join Miami-based litigation law firm Black, Srebnick, Kornspan & Stumpf as an associate...
JLT Re Korea welcomes new CEO
19 October 2016 | Singapore | Reporter: Becky Butcher
JLT Re has appointed Jong Kuk Moon as CEO of its Korea operations...
Hyundai Capital launches captive bank
18 October 2016 | Seoul, South Korea | Reporter: Becky Butcher
Hyundai Capital Services, the financing arm of Hyundai Motor Group, has received approval from the European Central Bank to establish Hyundai Capital Bank Europe (HCBE)...
Aon launches new Icelandic cat model
18 October 2016 | London | Reporter: Becky Butcher
Aon Benfield’s Impact Forecasting team has produced a new catastrophe model for Iceland, to estimate the financial impact of earthquakes...
Delaware provides guidance on PATH Act
17 October 2016 | Delaware | Reporter: Becky Butcher
Delaware insurance commissioner Karen Weldin Stewart has provided guidance to make it easier for captive insurers to comply with new requirements within the federal PATH Act...
Guernsey insurance stalwart joins CWC team
17 October 2016 | Guernsey | Reporter: Stephanie Palmer
Cutts-Watson Consulting (CWC) has appointed Graham Powell, strengthening its captive insurance offering in Guernsey...
Captive expert joins Shumaker, Loop & Kendrick
17 October 2016 | Florida | Reporter: Becky Butcher
Shumaker, Loop & Kendrick has appointed American Bar Association’s captive insurance committee chair David Slenn as an estate planning, business planning and tax attorney...
Casiopea Re rated ‘Excellent’
17 October 2016 | London | Reporter: Becky Butcher
A.M. Best has affirmed the financial strength rating of “A- (Excellent)” and the long-term issuer credit rating of “a-“ of Casiopea Re, located in Luxembourg...
Fitch backs new captive rules for VAs
14 October 2016 | Chicago | Reporter: Barney Dixon
Proposed revisions to the statutory framework for variable annuities (VAs) would be a positive change, according to a new report from international ratings agency, Fitch Ratings...
Liberty boosts reinsurance division
13 October 2016 | Cologne | Reporter: Stephanie Palmer
Liberty Specialty Markets, part of the Liberty Mutual Insurance Group, has appointed Miguel Martinez Álvarez as head of business development for the reinsurance division...
Eurobase sees synergy in Middle East
12 October 2016 | Doha | Reporter: Stephanie Palmer
MENA Re Underwriters has selected the Eurobase International Group synergy2 insurance solution to provide an end-to-end reinsurance administration platform...
New tech business specialist at Beazley
12 October 2016 | London | Reporter: Stephanie Palmer
Beazley has appointed Aidan Flynn as a senior underwriter for technology, media and business services, focusing on the data breach and cyber security risks of large US companies...
Marsh bags new chief client officer
12 October 2016 | London | Reporter: Barney Dixon
Marsh has hired Aisla King as chief client officer for the UK and Ireland...
Aon Risk Solutions acquires Stroz Friedberg
11 October 2016 | New York | Reporter: Barney Dixon
Aon Risk Solutions has acquired Stroz Friedberg, a global risk management firm, to create a Cyber Risk Management Advisory Group and improve its position in cyber risk brokerage...
Dentons recruits John Sarchio for insurance reg
11 October 2016 | New York | Reporter: Mark Dugdale
Law firm Dentons has appointed John Sarchio as partner in its insurance regulatory practice...
JLT IM speakers to appear at captive symposium
11 October 2016 | Stamford, Connecticut | Reporter: Barney Dixon
Representatives of JLT Insurance Management (JLTIM) will speak at this year’s Symposium on Captive Insurance in Connecticut, the firm has announced...
September US cyclones cost economy $4 billion
10 October 2016 | Chicago | Reporter: Becky Butcher
September tropical cyclones cost the global economy more than $4 billion, according to the latest Aon Benfield Impact Forecasting report...
Ioquois becomes ICG Captive Services
07 October 2016 | Nashville, Tennessee | Reporter: Becky Butcher
Ioquois has rebranded as ICG Captive Services, effective as 30 September...
National Storage acquires iStorage captive
07 October 2016 | Colorado | Reporter: Becky Butcher
National Storage Affiliates (NSA) Trust has completed the acquisition of the iStorage portfolio, including its captive insurance company, in a joint venture with a state pension fund...
Roundstone launches university captive programme
07 October 2016 | Lakewood, Ohio | Reporter: Becky Butcher
Roundstone is planning the launch of a university programme focusing on captive insurance...
Guernsey to host Hong Kong masterclass
06 October 2016 | Guernsey | Reporter: Becky Butcher
Guernsey Finance is to host its first insurance masterclass in Hong Kong on 4 November 2016, following the signing of an agreement to further develop China’s captive insurance market..
Record numbers for South Carolina
05 October 2015 | Charleston, South Carolina | Reporter: Becky Butcher
South Carolina hosted at record number of attendees at this year’s captive insurance conference, according to JLT Towner...
FERMA: Drop in number of companies using captives
04 October 2016 | St Julians, Malta | Reporter: Becky Butcher
The number of companies using captives has fallen from 39 percent in 2014 to 34 percent in 2016, according to the eighth edition of the European Risk and Insurance Report 2016...
FERMA: Malta an innovator in captive insurance
04 October 2016 | St Julians, Malta | Reporter: Becky Butcher
Malta has gained a “significant brand” in captive insurance in Europe, according to Prime Minister Joseph Muscat...
Bermuda power captive boasts surplus
04 October 2016 | Hamilton | Reporter: Mark Dugdale
The Bermuda-domiciled captive of the largest power generation and multi-utility company in Colombia has achieved high financial strength and long-term issuer credit ratings...
Risk managers rising in corporate ranks, finds FERMA
04 October 2016 | Brussels | Reporter: Mark Dugdale
European risk managers are taking a more strategic role in their companies with increasing access to top management levels and the board, a FERMA survey has found...
Promotions abound at JLT IM
03 October 2016 | Burlington, Vermont | Reporter: Stephanie Palmer
JLT Insurance Management has promoted Dustin Partlow and Thao Nguyen to the positions of director and vice president, respectively...
Advantage cements position in Puerto Rico
03 October 2016 | San Juan | Reporter: Mark Dugdale
Advantage Insurance has launched a new subsidiary in Puerto Rico...
PORCs to go the distance
03 October 2016 | London | Reporter: Mark Dugdale
Producer-owned reinsurance companies have the potential to drive growth in the captive market as intermediaries and brokers establish vehicles to aggregate the risks of their customers...
Lightowler to retire from KPMG Bermuda
03 October 2016 | Hamilton | Reporter: Mark Dugdale
Richard Lightowler, managing director and head of insurance at KPMG in Bermuda, is retiring at the end of the year...
Aon launches new cyber solution
30 September 2016 | London | Reporter: Becky Butcher
Aon Risk Solutions has introduced a new cyber product, the Aon Cyber Enterprise Solution, offering enterprise-wide coverage against cyber risk...
Revised ratings for Toyota captive
30 September 2016 | London | Reporter: Becky Butcher
A.M. Best has revised the long-term issuer credit rating outlook to positive from stable and affirmed the financial strength rating of “A (Excellent)” of Toyota Motor Insurance Company (TMIC), located in Iowa...
R&Q continues shopping spree
30 September 2016 | Malta | Reporter: Becky Butcher
Randall & Quilter Investment Malta (RQIM) has agreed a portfolio transfer agreement of a run-off business from Aviabel...
Zurich: Cyber risk concerns are on the rise
29 September 2016 | Zurich | Reporter: Becky Butcher
Cyber risks and reputational damage are an increasing concern for small and medium-sized enterprises (SMEs), according to Zurich Insurance Group’s third annual SME survey...
Crowe Horwath Cayman hires audit partner
29 September 2016 | Grand Cayman | Reporter: Becky Butcher
Neil Maynard has joined Crowe Horwath Cayman as an audit partner...
AXA hires ILS duo
29 September 2016 | Paris | Reporter: Becky Butcher
AXA Investment Managers has appointment Marc Belbenoit-Avich and Robin Chiche to its insurance-linked securities (ILS) team...
Cayman seeking Latin American business
28 September 2016 | George Town | Reporter: Becky Butcher
Latin America is an “important market” for Cayman captives, according to JS de Jager, board member of the Insurance Managers Association of Cayman (IMAC)...
R&Q agrees loss portfolio transfer with SIMIA
28 September 2016 | Malta | Reporter: Becky Butcher
Randall & Quilter (R&Q) Insurance Malta has reached an agreement with SIMIA, a mutual insurance company, to provide loss portfolio reinsurance coverage for all insurance contracts previously underwritten by the company...
Sooner, the better
27 September 2016 | Oldwick, New Jersey | Reporter: Becky Butcher
A.M. Best has affirmed the financial strength rating of “A (Excellent)” and the long-term issuer credit rating “a” of Sooner Insurance Company, located in Vermont...
Early start for Butler University captive
27 September 2016 | Indianapolis | Reporter: Becky Butcher
The Butler University College of Business has moved the launch date of its student-run insurance company forward to 1 May 2017...
Rewire Securities hires Markus Schmutz
26 September 2016 | Pennsylvania | Reporter: Becky Butcher
Markus Schmutz has joined Rewire Securities as partner...
Guernsey Insurance Forum: IAIS ICPs need updating
23 September 2016 | London | Reporter: Becky Butcher
The International Association of Insurance Supervisors (IAIS) insurance core principles (ICPs) need updating, according to Caroline Bradley, deputy director of the Guernsey Insurance Division...
R&Q acquires USA Swimming captive
23 September 2016 | Washington DC | Reporter: Becky Butcher
Randall & Quilter Investment Holdings (R&Q) has acquired the United States Sports Insurance Company (USSIC), a wholly owned captive of USA Swimming...
Guernsey drafts new SPI rules
22 September 2016 | London | Reporter: Becky Butcher
Guernsey has drafted a set of rules to provide “extensive guidance” for special purpose insurers (SPIs), it was revealed at the Guernsey Insurance Forum in London...
Dorinco retains “Excellent” rating from A.M. Best
21 September 2016 | Oldwick, New Jersey | Reporter: Stephanie Palmer
A.M. Best has affirmed the financial strength rating of “A (Excellent)” and the long-term issuer credit rating of “a” of the Dorinco Reinsurance Company, with the outlook remaining stable...
Verve cell launches with captive focus
20 September 2016 | London | Reporter: Becky Butcher
Verve Risk Partners has launched as a cell on the Castel Underwriting Agencies platform that will target US professional and management liability risks...
New insurance commissioner for Delaware
19 September 2016 | Delaware | Reporter: Becky Butcher
Karen Weldin Stewart will stand down as insurance commissioner for Delaware, after losing her vote in the primary contest...
Florida is open for captive business
16 September 2016 | Tallahasse, Florida | Reporter: Becky Butcher
Florida is back in the business of licensing captive insurance companies, according to Holland & Knight partner Nathan Adams and senior policy officer Beth Vecchioli...
UK treasury committee launch Solvency II inquiry
16 September 2016 | London | Reporter: Becky Butcher
The UK’s treasury committee has raised concerns about the EU’s Solvency II directive...
“Excellent” ratings for Vitol Holdings captive
15 September 2016 | London | Reporter: Becky Butcher
A.M. Best has affirmed the financial strength ratings of “A (Excellent)” and the long-term issuer credit rating of “a” of Rembrandt Insurance Company, located in Bermuda...
Kattan Associates gets Greenlight
example 28 September 2009 | Dublin | Reporter: Becky Butcher
Greenlight Reinsurance Ireland, a subsidiary of Greenlight Capital Re, has appointed Kattan Associates Limited to develop business opportunities in the European and Asian markets on its behalf...
Crosswinds Re domiciles in the Cayman Islands
14 September 2016 | George Town, Grand Cayman | Reporter: Becky Butcher
Crosswinds Re, a new specialty reinsurance business vehicle established by Crosswinds Holdings, has received approval from the Cayman Islands Monetary Authority as a class B reinsurer...
UK government hints at 2017 ILS implementation
13 September 2016 | London | Reporter: Becky Butcher
The London Market Group (LMG) has confirmed the UK government’s plans to implement an insurance linked-securities (ILS) strategy for early 2017...
Reinsurance demand continues to rise, says Aon
13 September 2016 | Monte Carlo | Reporter: Becky Butcher
Reinsurance demand has increased over the past 18 months and the trend is expected to continue for the rest of 2016, according to a new Aon report...
PwC: insurance industry facing “perfect storm”
12 September 2016 | Monte Carlo | Reporter: Becky Butcher
The industry is facing a “perfect storm” of soft rates, low investment yields and new regulation, as well as feeling the impact of new technology, shifting customer expectations and the threat of losing margins to "nimble" insurtech entrants, acc
PwC: increase in business run-off activity
12 September 2016 | Monte Carlo | Reporter: Becky Butcher
Exit or restructuring activity in on the up, according to a PwC survey, with 77 percent of respondents saying they expect to engage in it by 2019...
Willis Re upgrades cyber management tool
12 September 2016 | Monte Carlo | Reporter: Becky Butcher
Willis Re has launched an update of its cyber risk portfolio-modelling tool, PRISM-Re at the annual Monte Carlo Rendez-Vous...
Aon sees decrease in cat bond transactions
09 September 2016 | Chicago | Reporter: Becky Butcher
A total of 24 catastrophe bond transactions closed during a 12-month period, ending 30 June this year, with a limit of $5.2 billion, a decrease of $7 billion on the previous period, according to Aon Securities...
EID receives ‘excellent’ ratings
09 September 2016 | London | Reporter: Becky Butcher
A.M. Best has affirmed the financial strength rating of “A (Excellent)” and the long-term issuer credit rating of “a” of Eni Insurance Designated Activity Company (EID)...
Aon: Global reinsurance capital up by 4 percent
09 September 2016 | London | Reporter: Becky Butcher
Aon Benfield estimates that total global reinsurance capital increased by 4 percent to a record $585 billion over H1 2016...
HSP welcomes three executive appointments
09 September 2016 | New York | Reporter: Becky Butcher
Hanover Stone Partners (HSP) has named Katherine Dedrick, William Goddard and David Seibert as senior risk advisors, expanding the company’s risk management services...
BMS Re expands presence in North America
09 September 2016 | London | Reporter: Becky Butcher
BMS Re has acquired Advocate Reinsurance Partners in a bid to expand its presence in the North American market. Terms of the transaction were not disclosed...
R&Q buys UK-based insurance company in run-off
09 September 2016 | London | Reporter: Becky Butcher
Randall & Quilter Investment Holdings has acquired the Royal London General Insurance Company (RLGI), a UK non-life insurance company in run-off...
Munich Re invests in new data platform
09 September 2016 | California | Reporter: Becky Butcher
Munich Re, together with its partners, has installed the SAS Analytics and Hortonworks data platform for its big data initiative...
Atlas Insurance secures SC captive licence
08 September 2016 | Charlotte, North Carolina | Reporter: Becky Butcher
Atlas Insurance Management has secured approval from the South Carolina Department of Insurance to act as an insurance manager for the captive business in the state...
Captives need a FERMA footing
08 September 2016 | Brussels | Reporter: Becky Butcher
The FERMA has launched a campaign to change tax authorities and other public bodies’ misperceptions about captive insurance...
Canada is key for Cayman captives
08 September 2016 | George Town, Grand Cayman | Reporter: Becky Butcher
Canada is a key market for Cayman Islands captives, according to Kieran O’Mahony, chairperson of the Insurance Managers Association of Cayman (IMAC)...
Greek businesses to tackle cyber crime problems
08 September 2016 | London | Reporter: Becky Butcher
Greek businesses are increasingly looking to insure themselves against cyber attacks such as data breaches and ransom attacks, a new report has found...
Peter Borchers named new Allianz X CEO
07 September 2016 | Munich | Reporter: Becky Butcher
Allianz X, the insurance technology specialist company of Allianz Group, has appointed Peter Borchers as CEO, effective 1 October...
JLT Re appoints Matthew Carter
07 September 2016 | London | Reporter: Becky Butcher
Matthew Carter has joined JLT Re as a partner of the London market and international division...
R&Q looking ahead to new deals
06 September 2016 | Hamilton, Bermuda | Reporter: Becky Butcher
Randall & Quilter (R&Q) Investment Holdings has revealed that various insurance company transactions will be complete in the next few months, according to the group’s H1 2016 results...
Insurance Europe “concerned” over BEPS proposal
05 September 2016 | Brussels | Reporter: Becky Butcher
Insurance Europe has expressed concern over certain proposals relating to base erosion and profit sharing (BEPS) and their potential impact on the insurance sector...
USA Risk becomes WBN member
02 September 2016 | San Francisco | Reporter: Becky Butcher
USA Risk Group has been approved as a member of the Worldwide Brokers Network (WBN)...
China Re keeps "A+" rating despite drop in profits
02 September 2016 | Hong Kong | Reporter: Becky Butcher
The net profit of China Reinsurance Corporation (China Re Group) declined by 59 percent during the first half of 2016 due to a significant drop in net realised investment gains...
AUSTRAC expands efforts to protect against cyber
01 September 2016 | Canberra | Reporter: Becky Butcher
AUSTRAC, Australia's primary financial intelligence agency, has established a new cyber team to identify and combat cyber crime, including online terrorism financing, money laundering and financial fraud....
Marsh acquires employee benefits group
01 September 2016 | New York | Reporter: Becky Butcher
Marsh & McLennan Agency (MMA) has acquired Benefits Advisory Group, an Atlanta-based employee benefits consulting firm...
Istmo Re ratings downgraded
31 August 2016 | Mexico City | Reporter: Becky Butcher
A.M. Best has downgraded the financial strength rating to “B++ (Good)” and the issuer credit ratings to “bbb” of Istmo Re, ADISAP and Liffey Re...
New Jersey’s Peter Hartt joins FSOC
30 August 2016 | San Diego | Reporter: Becky Butcher
The NAIC has appointed Peter Hartt, director of the New Jersey insurance division, as the new state insurance commissioner representative on the FSOC...
New addition to the NCCIA board
26 August 2016 | Charlotte, North Carolina | Reporter: Becky Butcher
Donald Payseur has been elected to the North Carolina Captive Insurance Association (NCCIA) board of directors...
Micro and cell captives centre of attention
25 August 2016 | Burlington, Vermont | Reporter: Becky Butcher
There is an increasing interest in 831(b) captives and cell captives, according to JLT Towner Insurance Management...
Lufthansa captive receives “excellent” ratings
25 August 2016 | London | Reporter: Becky Butcher
A.M. Best has affirmed the financial strength ratings of “A (Excellent)” and the issuer credit ratings of “a” for Delvag and its subsidiary Delvag Rueck, both domiciled in Germany...
US Virgin Islands set for captive growth
25 August 2016 | Charlotte Amalie, St Thomas | Reporter: Becky Butcher
The US Virgin Islands are set to make a “gigantic leap” into the captive sector, according to Ashton Bertrand, superintendent of alternative markets at the US Virgin Islands division of banking and insurance...
North Carolina celebrates its 100th pure captive
24 August 2016 | Charlotte, North Carolina | Reporter: Becky Butcher
North Carolina has licensed its 100th pure captive, state insurance commissioner Wayne Goodwin confirmed at this year’s annual conference in Charlotte...
Four new captives for Arizona this year
24 August 2016 | Phoenix, Arizona | Reporter: Becky Butcher
The Arizona Captive Insurance Department has licensed four new captives as of 30 June this year, a 3 percent increase from year-end 2015...
Record numbers for North Carolina
23 August 2016 | Charlotte, North Carolina | Reporter: Becky Butcher
The North Carolina Captive Insurance Association (NCCIA) Conference kicked off on 22 August with a record number of 180 attendees and the unveiling of its first exhibiting hall...
Chubb launches cyber ERM solution in APAC
22 August 2016 | Singapore | Reporter: Becky Butcher
Chubb has launched its new cyber enterprise risk management solution in the Asia Pacific region, starting with Australia, Hong Kong and Singapore...
Crowe Horwath to audit Cayman captives
22 August 2016 | George Town, Cayman Islands | Reporter: Becky Butcher
Crowe Horwath has received authorisation from the Cayman Islands Monetary Authority to act as an “approved auditor” for class B insurance licensees in the Cayman Islands, according to Crowe Horwath’s managing director Bill Knibloe...
Cutts-Watson Consulting welcomes Paul Wakefield
18 August 2016 | Guernsey | Reporter: Becky Butcher
Paul Wakefield has joined Cutts-Watson Consulting (CWC) as a consultant, in order to strengthen its captive insurance team...
A.M. Best affirms TARIC's ratings
18 August 2016 | Oldwick, New Jersey | Reporter: Becky Butcher
A.M. Best has affirmed the financial strength rating “A (Excellent)” and the issuer credit rating “a” of The American Road Insurance Company (TARIC), located in Dearborn, Michigan...
Captives on the agenda for NAIC meeting
18 August 2016 | San Diego, California | Reporter: Becky Butcher
Captives and risk retention groups are on the agenda for this year’s summer National Association of Insurance Commissioners (NAIC) meeting...
Ratings revised for NITIC
18 August 2016 | Oldwick, New Jersey | Reporter: Becky Butcher
A.M. Best has revised the outlook of National Independent Truckers Insurance Company (NITIC) to positive from stable...
Enel Insurance receives 'excellent' ratings
17 August 2016 | London | Reporter: Becky Butcher
A.M. Best has affirmed the financial strength rating of “A- (Excellent)” and the issuer credit rating of “a-“ to Enel Insurance, a captive of Enel Group, a multinational electric utility company in Italy...
Marsh confirms Shelby Weldon hire
16 August 2016 | Hamilton | Reporter: Becky Butcher
Marsh Captive Solutions has confirmed that Shelby Weldon has joined as its new team leader and member of the senior management team...
Catastrophes could hit reinsurers’ profits
16 August 2016 | London | Reporter: Becky Butcher
Reinsurers could face a profit squeeze if the catastrophes return to normal, according to S&P Global...
Caitlin Morgan launches captive services business
15 August 2016 | Cleveland, Ohio | Reporter: Becky Butcher
Caitlin Morgan Insurance Services has launched a new captive insurance business to provide a resource for alternative risk solutions and access to captive services...
Guernsey Insurance Forum confirm keynote speaker
15 August 2016 | St Peter Port | Reporter: Becky Butcher
Guernsey Finance has revealed that A.M. Best’s Carlos Wong-Fupuy will be a keynote speaker for next month’s Guernsey Insurance Forum...
Zurich launches new cyber solution for captives
15 August 2016 | Schaumburg, Illinois | Reporter: Becky Butcher
Zurich Insurance has developed a new insurance solution for companies and their captives to protect against risks associated with data security breaches...
Isle of Man to introduce code of conduct
12 August 2016 | Douglas, Isle of Man | Reporter: Becky Butcher
The Isle of Man has issued a consultation to introduce a code of conduct for insurance providers on the island...
Exchange Re given the go-ahead
12 August 2016 | St Julians, Malta | Reporter: Becky Butcher
Exchange Re, the EU's first securitisation cell company platform for cell-based ILS and collateralised reinsurance transactions, has received approval to begin business by the Malta Financial Services Authority...
Beecher Carlson promotes captive practice trio
12 August 2016 | Atlanta | Reporter: Becky Butcher
Beecher Carlson has promoted Pete Kranz to captive leader of sales, Chantal Oosthuizen to captive leader of offshore, and Matt Takamine to captive chief operating officer...
Cutts-Watson to assist BVI to “reinvigorate” business
12 August 2016 | Road Town, British Virgin Islands | Reporter: Becky Butcher
Cutts-Watson Consulting has teamed up with the BVI captive insurance industry to review and “take advantage of newly presented opportunities to reinvigorate business”...
Captives give $360m boost to Delaware GDP
11 August 2016 | Dover, Delaware | Reporter: Stephanie Palmer
Delaware’s captive insurance programme has contributed just shy of $360 million to the state’s GDP since it launched in 2009, according to an economic study by the University of Delaware...
VCIA: Board members need to support business
11 August 2016 | Burlington, Vermont | Reporter: Becky Butcher
Captive board members are in place to support the business, and if they don't like the strategic direction of management they should look at changing management rather than strategy...
VCIA: Cyber attacks on the rise
11 August 2016 | Burlington, Vermont | Reporter: Becky Butcher
More than half, 51 percent, of captive professional have experienced a cyber attack within the last five years, it was revealed during a cyber panel at the VCIA conference...
VCIA: Industry stalwarts recognised in awards
11 August 2016 | Burlington, Vermont | Reporter: Becky Butcher
Stephanie Mapes, Michael Bemi and Dennis Silvia were presented VCIA industry awards during the VCIA Conference keynote session...
Tennessee celebrates five successful years
10 August 2016 | Nashville, Tennessee | Reporter: Becky Butcher
Since Tennessee Governor Bill Haslam signed a law to rewrite captive legislation, the state's captive insurance market has seen a boost in growth and an increase in state revenue...
VCIA: Companies must re-evaluate captives
10 August 2016 | Burlington | Reporter: Becky Butcher
Captives should re-evaluate risk appetite and exposure at least every five years, according to a panel at the Vermont Captive Insurance Conference...
Strategic Risk Solutions expands captive team
10 August 2016 | Massachusetts | Reporter: Becky Butcher
Strategic Risk Solutions has hired Rex Jorgensen and Jonathan Stark to help manage growth in its western region captive management and consultancy teams...
VCIA: Group captives moving onshore
09 August 2016 | Burlington | Reporter: Becky Butcher
US onshore domiciles are the most popular choice for setting up a group captive, according to poll at this year’s Vermont Captive Insurance Association conference...
Utah appoints new captive insurance director
09 August 2016 | Salt Lake City | Reporter: Stephanie Palmer
Travis Wegkamp has been appointed the new director for the Utah captive insurance division, replacing David Snowball, who is retiring after two years in the position...
USA Risk Group names Sargeant’s replacements
08 August 2016 | Vermont | Reporter: Mark Dugdale
USA Risk Group’s COO, Andrew Sargeant, will retire at the end of the year, with Cindy Lyford and Shawn Burger set to take over his responsibilities...
VCIA preview: what to watch
08 August 2016 | Burlington | Reporter: Becky Butcher
With the Vermont Captive Association Conference kicking off today, VCIA president Richard Smith recaps what sessions to look out for over the course of the week...
ILS market sees smallest issuance since 2011
05 August 2016 | Zurich | Reporter: Becky Butcher
The insurance linked-securities market in Q2 2016 only saw $800 million in new issuances, the smallest since 2011, according to Swiss Re...
‘Excellent’ ratings for Physicians Insurance Mutual Group
04 August 2016 | Oldwick, New Jersey | Reporter: Becky Butcher
A.M. Best has assigned a financial strength rating of “A- (Excellent)” and an issuer credit rating of “a-” to MedChoice Risk Retention Group and Physicians Insurance A Mutual Company...
Cost and control are top drivers for captives
04 August 2016 | London | Reporter: Becky Butcher
Control and cost savings are the primary drivers for companies with employee benefits in their captive, according to a Willis Towers Watson report...
BIBA: consider captives in Brexit talks
03 August 2016 | London | Reporter: Becky Butcher
The impact on captive insurance companies writing for European operations from the UK, or vice-versa, needs to be considered during Brexit negotiations, according to a letter sent to senior government figures from the BIBA...
Outlook revised for NTC
02 August 2016 | Oldwick, New Jersey | Reporter: Becky Butcher
A.M. Best has revised the outlook of the National Telecom Corporation (NTC), a telecommunications company based in Burlington, Vermont, from positive to stable...
US captive market has stable outlook
02 August 2016 | Oldwick, New Jersey | Reporter: Becky Butcher
The US captive market is to remain stable for the rest of 2016, according to A.M. Best...
CapAlt opts for Websure’s admin platform
01 August 2016 | London | Reporter: Becky Butcher
Websure has entered into an agreement to supply its administration platform to Captive Alternatives (CapAlt), as of November 2016...
Ratings upgrade for JRG Re
01 August 2016 | Oldwick, New Jersey | Reporter: Becky Butcher
A.M. Best has upgraded the ratings of JRG Reinsurance Company to “A (Excellent)” from “A- (Excellent)” and issuer credit rating to “a” from “a-“...
DHG appoints new managing partner
29 July 2016 | Tampa Bay, Florida | Reporter: Becky Butcher
Dixon Hughes Goodman (DHG) has named Brian Kilbane as managing partner of its Tampa Bay, Florida office...
Chubb names new chief reinsurance officer
29 July 2016 | Zurich | Reporter: Becky Butcher
Chubb Group has appointed Michael Kessler as vice president and chief reinsurance officer, effective 1 August...
Kenneth Anderson joins Capstone
29 July 2016 | Houston, Texas | Reporter: Becky Butcher
The affiliated law firm of Capstone Associated, Feldman Law Firm, has appointed Kenneth Anderson...
Montana insurance commissioner nears end of term
28 July 2016 | Helena | Reporter: Becky Butcher
Montana insurance commissioner Monica Lindeen will step down from her role at the end of this year after coming to the end of her eight-year term...
AIR launches new resilience practice
26 July 2016 | Boston | Reporter: Becky Butcher
AIR Worldwide, a catastrophe modelling firm, has formed a global resilience practice to support risk reduction and resilience initiatives...
Russian Re’s ratings downgraded
25 July 2016 | London | Reporter: Becky Butcher
The financial strength rating of Russian Reinsurance Company JSC (Russian Re) has been downgraded by A.M. Best from “B+ (Good)” to “B (Fair)”...
A.M. Best downgrades Royal Dutch Shell captives
22 July 2016 | London | Reporter: Becky Butcher
A.M. Best has downgraded the ratings of Solen Versicherungen AG (SVAG) and Noble Assurance Company, captives of Royal Dutch Shell (RDS)...
Bermuda ILS industry creates over 400 jobs in 2015
22 July 2016 | Hamilton, Bermuda | Reporter: Becky Butcher
Bermuda’s ILS and convergence industry generated just shy of 400 jobs by the end of 2015, representing a 30 percent increase over the previous year, according to a new study by the Bermuda BDA...
Cat bond issuance slows during Q2 2016
22 July 2016 | Chicago | Reporter: Becky Butcher
Catastrophe bond issuance in Q2 2016 stood at $800 million across five transactions, a relatively low figure for an active quarter for issuance, according to a new report by Aon Securities...
Marsh welcomes new US and Canada president
22 July 2016 | New York | Reporter: Becky Butcher
Marsh has named Martin South as the new president of its US and Canada division, based in the firm's New York office, effective 1 September...
Lowest Q2 ILS issuance since 2011
21 July 2016 | London | Reporter: Becky Butcher
Insurance-linked securities (ILS) issuance for Q2 2016 was at its lowest level for Q2 for the last five years, according to Timetric...
Sarah Goddard to depart DIMA
21 July 2016 | Dublin | Reporter: Becky Butcher
Sarah Goddard has revealed she will be stepping down from her position as CEO of the Dublin International Insurance and Management Association (DIMA), as of 1 August...
IMAC welcomes new insurance supervisor
21 July 2016 | George Town, Grand Cayman | Reporter: Becky Butcher
The Insurance Managers Association of Cayman (IMAC) has welcomed Ruwan Jayasekera to his new role of head of insurance supervision for the Cayman Islands...
Global economic losses highest since 2011
21 July 2016 | Chicago | Reporter: Becky Butcher
During the H1 2016, preliminary global economic losses were at their highest levels since 2011, but slightly below the 10-year average, according to a global catastrophe recap by Aon Benfield’s Impact Forecasting...
New head of cyber liability for Pen Underwriting
21 July 2016 | London | Reporter: Becky Butcher
Pen Underwriting has appointed Adrian Scott as head of cyber liability...
EXCLUSIVE: Marsh expands China captive operations
20 July 2016 | Beijing | Reporter: Becky Butcher
Marsh has named Ariel Kou as the new senior account manager of Marsh Captive Solutions in Beijing, with immediate effect...
Labuan gained three new captives in 2015
20 July 2016 | Labuan, Malaysia | Reporter: Becky Butcher
The Labuan Financial Services Authority licensed three new captive insurers and five protected cell in 2015, taking the domicile’s total number of entities to 40...
Smaller institutions targeted by cyber, says Beazley
20 July 2016 | New York | Reporter: Becky Butcher
There was a sharp increase in hacking and malware attacks on financial institutions in H1 2016, with the majority aimed at small banks and credit unions, according to a new Beazley report...
CIMA appoints head of insurance supervision
19 July 2016 | Grand Cayman | Reporter: Becky Butcher
The Cayman Insurance Monetary Authority (CIMA) has appointed Ruwan Jayasekera as head of its insurance supervision division...
Jay Kallas joins Drinker Biddle
19 July 2016 | Chicago | Reporter: Becky Butcher
Drinker Biddle & Reath has appointed Jay Kallas to its insurance regulatory and transactional team, located in the firm’s Chicago office...
American Integrity appoints Gloria Hendrickson
19 July 2016 | Tampa, Florida | Reporter: Becky Butcher
American Integrity Insurance has hired Gloria Hendrickson as senior vice president of risk management...
XL Catlin launches African reinsurance unit
19 July 2016 | London | Reporter: Becky Butcher
XL Catlin has established a new reinsurance unit focusing on facultative and treaty reinsurance across Africa...
Ocean Re receives ‘excellent’ ratings
18 July 2016 | Barbados | Reporter: Becky Butcher
A.M. Best has affirmed the financial strength rating of “A- (Excellent)” and the issuer credit rating of “a-" of Ocean International Reinsurance Company, located in Barbados...
R&Q acquires segregated accounts captive company
18 July 2016 | Hamilton, Bermuda | Reporter: Becky Butcher
Randall & Quilter Investment Holdings (R&Q) has purchased Agency Program Insurance Company (APIC), a Bermuda-based segregated accounts captive company...
A.M. Best affirms IGI ratings
18 July 2016 | London | Reporter: Becky Butcher
A.M. Best has affirmed the financial strength rating of “A- (Excellent)” and the issuer credit rating “A-“ of International General Insurance Company (IGI) for its Bermuda and UK operations...
Risk managers will have to state value of captive
15 July 2016 | Brussels | Reporter: Becky Butcher
The Base Erosion and Profit Shifting (BEPS) programme could force captive owners to have to justify their insurers to poorly informed third parties, according to the FERMA...
Assurant completes reinsurance programme
14 July 2016 | New York | Reporter: Becky Butcher
Assurant has finalised its $1.4 billion 2016 property catastrophe reinsurance programme...
SCOR praises Paris court decision
13 July 2016 | Paris | Reporter: Becky Butcher
SCOR Group has welcomed the decision of the Paris administrative court in favour of opening a natural catastrophe reinsurance market in France...
Vermont celebrates 35 years of captive insurance
13 July 2016 | Montpelier, Vermont | Reporter: Becky Butcher
Vermont has marked the 35th anniversary of its captive insurance legislation being signed into law...
LMG launches talks on foreign aid cat bond
13 July 2016 | London | Reporter: Becky Butcher
The London Market Group (LMG) has launched a white paper to discuss the creation of a foreign aid catastrophe bond...
NC governor signs captive bill into law
12 July 2016 | Raleigh, North Carolina | Reporter: Becky Butcher
North Carolina governor Pat McCrory has signed captive bill H. 287 into law...
Aon Benfield launches new cat modelling platform
12 July 2016 | Chicago | Reporter: Becky Butcher
Aon Benfield Impact Forecasting has launched Elements 10, a catastrophe modelling platform designed to enhance strategic business decisions...
Non-life catastrophe bond issuance hits $2.8 billion
12 July 2016 | London | Reporter: Becky Butcher
During Q2 2016, $1 billion of non-life catastrophe bond capacity was issued across six transactions, taking the total market issuance for H1 2016 to $2.8 billion...
William White joins Hanover Stone Partners
12 July 2016 | New York | Reporter: Becky Butcher
Hanover Stone Partners has appointed William White as a senior risk advisor...
Artex launches new brand platform
11 July 2016 | Bermuda | Reporter: Becky Butcher
Artex has launched a new logo and brand platform to position the company for growth in the alternative risk market...
Megalodon introduces claims management software
08 July 2016 | San Antonio, Texas | Reporter: Becky Butcher
Megalodon Insurance Systems has launched its new client-centred policy and claims management software...
Mauritius attracts African captive business
08 July 2016 | Port Louis | Reporter: Becky Butcher
Mauritius has been positioned as the domicile of choice for African business since the enactment of its Captive Insurance Act in December last year, according to Cim Global Business...
Guy Hurley to offer mid-size business captive product
08 July 2016 | Troy, Michigan | Reporter: Becky Butcher
Guy Hurley is now offering a captive insurance product that will allow mid-size businesses the chance to earn back up to 55 percent of their insurance premiums...
Mixed implications for US life insurers on PBR
08 July 2016 | New York | Reporter: Becky Butcher
New Principles-based statutory reserving (PBR) standards will have mixed implications for US life insurers, according to Fitch Ratings...
JLT partners with Stanford uni on cyber modelling
08 July 2016 | Chicago | Reporter: Becky Butcher
JLT Speciality has partnered with academics at Stanford University to build a comprehensive cyber breach data set that will enhance JLT’s cyber modelling capabilities...
Michael Pieciak named new Vermont commissioner
08 July 2016 | Burlington, Vermont | Reporter: Becky Butcher
Governor of Vermont Peter Shumlin has appointed Michael Pieciak as commissioner of the Department of Financial Regulation...
Flooding in china reaches $4 billion in damages
07 July 2016 | Chicago | Reporter: Becky Butcher
Floods in China during June are expected to have caused a minimum of $4 billion in damages, according to Aon Benfield’s Impact Forecasting Global Catastrophe Report...
Cassatt Insured Group celebrates 25 years
07 July 2016 | Pennsylvania | Reporter: Becky Butcher
Cassatt Insured Group is marking its 25-year anniversary in business...
A.M. Best revises NEIL’s ratings
07 July 2016 | Oldwick, New Jersey | Reporter: Becky Butcher
A.M. Best has revised the issuer credit rating outlook to stable from negative and affirmed the financial strength rating of “A (Excellent) and the issuer credit rating of “a+” of NEIL...
Harrington Re receives ‘excellent’ ratings
06 July 2016 | Oldwick, New Jersey | Reporter: Becky Butcher
A.M. Best has assigned a financial strength rating of “A- (Excellent)” and an issuer credit rating of “a-” to Harrington Re...
Delaware captive bills pass house
06 July 2016 | Dover, Delaware | Reporter: Becky Butcher
The Delaware House of Representative has passed captive bill amendments, HB 411 and HB 412, proposed by the Delaware Department of Insurance...
Captive insurance boosts Tennessee’s economy
05 July 2016 | Nashville, Tennessee | Reporter: Becky Butcher
Tennessee-domiciled captive insurance companies have created an estimated $436 million economic impact through direct and indirect spending, according to a survey...
S&P reaffirms IGI ratings
05 July 2016 | Hamilton, Bermuda | Reporter: Becky Butcher
Standard & Poor’s Ratings Services (S&P) has reaffirmed the “A-“ insurer financial strength on International General Insurance Company’s (IGI) Bermuda and UK operations...
Aon helps Freddie Mac hit risk transfer milestone
04 July 2016 | Chicago | Reporter: Becky Butcher
Aon Risk Solutions and Aon Benfield have assisted Freddie Mac to reach a $5 billion issuance milestone in credit risk transfer...
Bermuda to introduce LLC legislation
04 July 2016 | Hamilton, Bermuda | Reporter: Becky Butcher
The Bermuda Government has proposed to introduce limited liability company (LLC) legislation based on Delaware’s statute...
Cell captives and TRIA to fund vital coverage, says JLT
01 July 2016 | New York | Reporter: Becky Butcher
Cell captives and the Terrorism Risk Insurance Act (TRIA) could be an economical way to fund vital coverage, according to JLT Towner Insurance Management...
Increase in captives accessing TRIA
30 June 2016 | New York | Reporter: Becky Butcher
The number of Marsh-managed captives accessing the Terrorism Risk Insurance Act (TRIA) following its reauthorisation has increased by 17 percent from 93 in 2014 to 109 in 2015...
Brexit could bring opportunities for Gibraltar
29 June 2016 | Gibraltar | Reporter: Becky Butcher
Brexit could bring opportunities for Gibraltar’s captive insurance market, according to Nigel Feetham, a partner at Hassans International Law Firm...
AGCS appoints Paul O’Neill
29 June 2016 | London | Reporter: Becky Butcher
Allianz Global Corporate & Specialty (AGCS) has named Paul O’Neill as chief underwriting specialty, effective 1 October...
Mark Shumway joins JLT Re
28 June 2016 | Philadelphia | Reporter: Becky Butcher
JLT Re has appointed Mark Shumway as global head of strategic advisory and will be based in the firms Philadelphia office...
Guernsey to work with Chinese captive sector
28 June 2016 | Saint Peter Port, Guernsey | Reporter: Becky Butcher
The Guernsey International Insurance Association (GIIA) has signed an agreement with both the China Captive Alliance and the Kashgar Government to further develop China’s captive insurance market...
A.M. Best reviews Ironshore ratings
28 June 2016 | Hamilton, Bermuda | Reporter: Becky Butcher
A.M. Best has removed Ironshore’s status of “under review with negative implications” and affirmed its financial strength rating as A (Excellent) with a negative outlook...
AGCS appoints Jack Jenner
28 June 2016 | Dubai | Reporter: Becky Butcher
Allianz Global Corporate & Speciality (AGCS) has named Jack Jenner as country manager for its Dubai-based offices, effective 1 September...
Hawaii celebrates 30 years of captive insurance
28 June 2016 | Honolulu | Reporter: Becky Butcher
Hawaii has celebrated its 30th anniversary of establishment in the captive insurance industry...
Bermuda unaffected by Brexit
27 June 2016 | Hamilton, Bermuda | Reporter: Becky Butcher
Bradley Kading, president and executive director of Association of Bermuda Insurers and Reinsurers (ABIR) insists that Bermuda will remain unaffected by the UK vote to leave the EU...
Guernsey in good position for Brexit impact
24 June 2016 | Saint Peter Port, Guernsey | Reporter: Becky Butcher
Guernsey is well placed to ensure any impact the Brexit might have on its trading relationships is minimised, and will put in place any required alternative trading agreement, according to island officials...
UK’s financial strength ratings remain unchanged
24 June 2016 | London | Reporter: Becky Butcher
A.M. Best and S&P Global Ratings have not taken action to downgrade the UK’s financial strength ratings, following the UK’s decision to leave the EU...
Brexit: Only time will tell
24 June 2016 | London | Reporter: Becky Butcher
After the UK voted to leave the EU, with 52 percent of voters deciding to exit the union, Aon released a statement suggesting that it will likely be some time before there is a clear picture of the implications on the insurance industry...
Solvency II will almost certainly remain, says PwC
24 June 2016 | London | Reporter: Becky Butcher
After the UK's decision to leave the EU, PwC’s UK Insurance leader Jonathan Howe says, Solvency II will almost certainly remain...
CICA president Dennis Harwick to retire
23 June 2016 | Minneapolis | Reporter: Becky Butcher
Dennis Harwick, president of the Captive Insurance Companies Association (CICA) will retire from his current position at the end of June 2017...
HSP and USA Risk to partner on captive services
23 June 2016 | New York | Reporter: Becky Butcher
Hanover Stone Partners (HSP) and USA Risk Group have agreed to collaborate on captive management, governance and related services...
Julie McPeak elected to IAIS board
23 June 2016 | Nashville, Tennessee | Reporter: Becky Butcher
The Tennessee Department of Commerce and Insurance commissioner Julie McPeak has been elected to serve as vice chair of the IAIS executive committee...
Tennessee captive bill update strengthens market
23 June 2016 | Nashville, Tennessee | Reporter: Becky Butcher
Recent updates to Tennessee's captive legislation has strengthened its captive market, according to the Tennessee Captive Insurance Association (TCIA)...
‘Excellent’ ratings for NextEra Energy captive
22 June 2016 | Oldwick, New Jersey | Reporter: Becky Butcher
A.M. Best has affirmed the financial strength rating of “A (Excellent)” and the issuer credit ratings of “a” of NextEra Energy’s captive Palms Insurance Company, based in the Cayman Islands...
Exclusive: NC senate passes new captive bill
22 June 2016 | Raleigh | Reporter: Becky Butcher
Proposed amendments to the North Carolina Captive Insurance Act is currently under consideration by North Carolina’s lawmakers, according to the North Carolina Department of Insurance...
AXA Investment Managers boosts insurance team
22 June 2016 | London | Reporter: Becky Butcher
Chris Price has joined AXA Investment Managers as head of insurance solutions UK...
Crawford appoints new president and CEO
22 June 2016 | Atlanta | Reporter: Becky Butcher
Crawford & Company has named Harsha Agadi as its new president and CEO...
UK to face increase cyber regulation, says Beazley
21 June 2016 | London | Reporter: Becky Butcher
New EU regulations on data breaches will impact UK companies no matter the outcome of the EU referendum on 23 June, according to a speaker at a Beazley conference held in London...
Aon boosts London cyber team
21 June 2016 | London | Reporter: Becky Butcher
Aon has appointed Luke Foord-Kelcey as the new co-head of Aon Benfield’s global cyber practice group...
Airmic report: Industry lacking innovation
21 June 2016 | Harrogate, England | Reporter: Becky Butcher
Airmic members feel insurance is lacking innovation, but the Airmic CEO insists the industry is trying harder to innovate, conference attendees heard...
Compre agrees its fourth acquisition for 2016
20 June 2016 | London | Reporter: Becky Butcher
Compre has acquired Allianz IARD’s Rigwell Fox & Partners (RFP) pool legacy reinsurance business for an undisclosed sum...
VCIA expects to surpass 1,000 at annual conference
20 June 2016 | Burlington, Vermont | Reporter: Becky Butcher
The Vermont Captive Insurance Association (VCIA) is expecting to attract more than 1,000 attendees to its 31st annual conference...
GC Securities completes cat bond for Munich Re
17 June 2016 | New York | Reporter: Becky Butcher
GC Securities has completed a placement of a single class of principal at-risk variable rate notes totalling $190 million through its newly formed designated account company Queen Street XII Re...
JLT Re names new head of P&C Nordics reinsurance
16 June 2016 | Stockholm | Reporter: Becky Butcher
JLT Re has named Anna-Karin Toresson as head of JLT Re’s property and casualty reinsurance business for the Nordics...
New CEO for Guy Carpenter in Sweden
16 June 2016 | Stockholm | Reporter: Tammy Facey
Tobias Andersson has become CEO of Guy Carpenter in Stockholm...
Insurers still fear business loss from financial tech
15 June 2016 | London | Reporter: Becky Butcher
Almost half of insurers fear that up to 20 percent of their business could be lost to standalone financial technology companies within the next five years, according to a new PwC report...
Rhode Island receives first run-off application under new reg
15 June 2016 | Providence | Reporter: Becky Butcher
Pro Global Insurance Solutions has become first company to file an application for a new domestic insurance company in Rhode Island to facilitate insurance business transfer under the recent amendment to the state’s Regulation 68...
EXCLUSIVE: Shelby Weldon to depart the BMA
14 June 2016 | Hamilton, Bermuda | Reporter: Becky Butcher
The Bermuda Monetary Authority’s current director of licensing and authorisation, Shelby Weldon, is stepping down from his role, according to multiple sources...
BCC: 16 captives added to Bermuda’s hall of fame
14 June 2016 | Bermuda | Reporter: Becky Butcher
Bermuda Captive Conference chair David Gibbons has revealed there will be 16 new captives added to Bermuda’s Captive Hall of Fame...
BCC: Bermuda needs to protect its rep
14 June 2016 | Southampton, Bermuda | Reporter: Becky Butcher
The Panama Papers leak gave Bermuda the chance to show the world that is has nothing to hide but the domicile could do a better job of protecting its reputation, attendees of the BCC heard...
BCC: Canada and Latin America are emerging
14 June 2016 | Southampton, Bermuda | Reporter: Becky Butcher
Latin America and Canada are expanding in the captive space, according to a panel at the Bermuda Captive Conference...
Captives dependent on TRIA programme, says VCIA
14 June 2016 | Burlington, Vermont | Reporter: Becky Butcher
The market for terrorism insurance coverage, be it conventional or captive, is strongly dependent on the Terrorism Risk Insurance Act programme, according to the VCIA...
BCC: Insurance manager changes set to take effect
13 June 2016 | Southampton, Bermuda | Reporter: Becky Butcher
Insurance managers in Bermuda will have until 31 December to move on to the new risk-based supervisory regime, according to Graham Lamb of the BMA...
SUMIT Insurance rated ‘excellent’
13 June 2016 | Hamilton, Bermuda | Reporter: Becky Butcher
A.M. Best has assigned a financial strength rating of “A (Excellent)” and an issuer credit rating of “a” to SUMIT, the Bermuda-domiciled captive of SUMIT Insurance Company...
Cedar Management becomes Citadel Management Bermuda
10 June 2016 | Hamilton, Bermuda | Reporter: Becky Butcher
Cedar Management has been renamed Citadel Management Bermuda following its acquisition...
Soft market conditions remain tough for reinsurers
10 June 2016 | London | Reporter: Becky Butcher
Reinsurance is still finding the soft market a big challenge, according to Xchanging’s Xuber Global Reinsurance Survey...
Connecticut licenses new healthcare captive
09 June 2016 | Connecticut | Reporter: Becky Butcher
The Connecticut Insurance Department has licensed a non-profit captive insurance cooperative focusing on employee health insurance...
May global disasters to hit $7 billion in claims
09 June 2016 | Chicago | Reporter: Becky Butcher
Global disasters in May could lead to at least $7 billion in claims as insurers aid the recovery process, according to a report from Aon Benfield’s Impact Forecasting...
Ironshore adds new chief underwriting officer
09 June 2016 | Boston | Reporter: Becky Butcher
Ironshore has named Shawn Homand as chief underwriting officer of global property. He will be based in the firm’s Boston office...
Airmic: Little innovation in the insurance industry
08 June 2016 | Harrogate, England | Reporter: Becky Butcher
The insurance industry is doing more to innovate but there is still a long way to go before it meets the growing demand of its clients for new products and solutions, according to Airmic...
XL Catlin launches structured risk solutions group
08 June 2016 | London | Reporter: Mark Dugdale
XL Catlin has set up a new team to focus on alternative risk transfer and non-traditional insurance globally...
Aon appoints reinsurance executives in Chile
07 June 2016 | Santiago | Reporter: Becky Butcher
Aon Benfield has named Martin Soto Quintus as CEO of Aon Benfield Chile, effective immediately...
Eversheds bags Hugo Laing
07 June 2016 | London | Reporter: Becky Butcher
Hugo Laing has joined Eversheds as partner in the financial services group and will be based in the London office...
Airmic: Strong risk culture can reduce potential losses
06 June 2016 | Harrogate, England | Reporter: Becky Butcher
A strong risk culture can build business resilience, minimise potential losses and help organisations gain a competitive advantage, according to Willis Towers Watson...
Pool Re to develop terrorism risk model
06 June 2016 | London | Reporter: Becky Butcher
Pool Re, Cranfield University and Guy Carpenter are developing the UK’s first terrorism risk model to include the potential impact of a chemical, biological, radiological or nuclear attack...
Pinnacle welcomes consulting actuaries
06 June 2016 | Illinois | Reporter: Becky Butcher
Pinnacle Actuarial Resources has appointed Legaré Gresham, Jing Liu and Radost Wenman as consulting actuaries...
A.M. Best affirms Transmonde ratings
03 June 2016 | Oldwick, New Jersey | Reporter: Becky Butcher
A.M. Best has affirmed the financial strength rating of “A (Excellent)” and issuer credit rating of “a” for Transmonde Services Insurance Company, located in Bermuda...
Jill Husbands to receive lifetime achievement award
03 June 2016 | Southampton, Bermuda | Reporter: Becky Butcher
Jill Husbands, chairman and managing director of Marsh IAS management services, has received the first Fred Reiss Lifetime Achievement Award...
CICA to host analytics webinar
03 June 2016 | Minneapolis | Reporter: Becky Butcher
The Captive Insurance Companies Association (CICA) will host a new webinar on how captives can harness analytics to make better risk management decisions...
Captives deserve TRIA benefits too, says SIIA
02 June 2016 | Washington DC | Reporter: Becky Butcher
Captives should not be treated differently than other insurers when participating in the Terrorism Risk Insurance Program (TRIP), according to the SIIA...
PivotPoint partners with Marsh on cyber risk services
02 June 2016 | New York | Reporter: Becky Butcher
Marsh will integrate PivotPoint’s cyber value-at-risk analytics solution, CyVaR, into risk advisory services for its clients in the US, the companies have revealed...
Willis Towers Watson expands captive platform
02 June 2016 | Virginia | Reporter: Becky Butcher
Willis Towers Watson is set to offer its captive management services in Switzerland...
R&Q completes novation from Cayman captive
01 June 2016 | London | Reporter: Becky Butcher
Randall & Quilter Investment Holdings has completed the novation of liabilities for policy years 2003 to 2011 from Westland Insurance Company, a captive domiciled in the Cayman Islands...
Capstone approved as captive manager in Texas
01 June 2016 | Houston, Texas | Reporter: Becky Butcher
Capstone Associated Services has been approved as a captive manager by the Texas Department of Insurance...
Kenneth Kotch joins Puerto Rico captive association
31 May 2016 | Dallas | Reporter: Becky Butcher
Kenneth Kotch, principal and captive insurance practice leader at Ryan, has accepted a nomination to become a chartered member of the Puerto Rico Captive Insurance Association...
A.M. Best revises BP captive ratings
31 May 2016 | London | Reporter: Becky Butcher