Features archive
Captive Insurance Times
Martin Membery and Andrew Holland of Sidley Austin discuss the signing of the EU-US bilateral covered agreement and who will potentially benefit from it
Michael Zuckerman of Temple University Fox School of Business makes the case for a captive insurance company independent board director
This year’s Bermuda Captive Conference highlighted the importance of the captive industry to the island, and the need to stay ahead of the curve in terms of regulation and innovation in order to maintain its global status
Brady Young, Stuart King and Andrew Berry tell Becky Butcher about the decision to expand into Europe with a new operation in Dublin
Unscrupulous micro captive managers and their motley crews might have walked their last plank following the ruling in the good ship Avrahami
More than 200 delegates gathered in Charlotte, North Carolina, to attend the state’s three-day annual captive insurance conference. Becky Butcher reports
John Dies and Steve Miller of alliantgroup analyse the Avrahami tax court case decision, and warn captives to take a look at their own programmes
US captive insurance association leaders discuss the present challenges and future of the business, as federal policy confuses and SME growth continues
Becky Butcher finds out why captive insurance is such a natural fit for financial institutions and how they will continue to dominate the market
With London’s ILS hub set for an autumn launch, Guernsey Finance’s Dominic Wheatley shares his thoughts on what to expect
Guernsey’s hard work is paying off as China looks to stretch the boundaries of its captive strategies. Becky Butcher reports
Guernsey’s ILS numbers reveal a booming market made better by regulatory innovation. Becky Butcher reports
A bigger market means an improving financial performance, perhaps even higher returns. Marsh’s annual analysis of the captive insurance market, now in its tenth year, discovers that it also means change
Attendees of the European Insurance Forum in Dublin heard how insurance and reinsurance professionals are readying for turbulent times ahead
Interest in forming new captives and protected cell companies is on the rise, according to the latest Aon Global Risk Management Survey
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
Rule-focused decisions have kept captives from delivering full value, say Carrie Lam and Steve Prince of Collins Barrow
Attendees of this year’s European Insurance Forum can expect a full and comprehensive agenda. Eddy Van Cutsem explains
Richard Paris-Smith of Willis Towers Watson explains how the UK’s recent changes to the Ogden discount rate will affect captive insurers
Reputation insurance is an important part of any company’s risk management strategy, according to Dr Nir Kossovsky of Steel City Re
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
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
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
As small US businesses are faced with increasing healthcare costs, Holmes Murphy has created a captive to give them something back. Beau Reid explains
With a solid enterprise risk management strategy, a captive can increase in value and reputation, says Michael Zuckerman of Temple University
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
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
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
They may be little understood, but medical stop-loss lasers are most likely here to stay. Phillip Giles of QBE NA demystifies the method
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
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
When deciding whether to form a captive, risk coverage should come first, financial benefits second, according to Steven Lonergan of Capstone Associated Services
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
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
In captive insurance, tax is no longer the cake itself, but the cherry on top. Birte Fehse and Praveen Sharma of Marsh explain
A captive insurance entity is capable of more than many would expect, according to John Thomson of HAI Group
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
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
Attendees of the 2016 GEB Forum are invited to share insights on major trends and challenges in employee benefits, says Simona Frisoli of GEB
As the Cayman Islands continues to expand its footprint, Kieran O’Mahony explains why Canada is an unrivalled opportunity for captive business
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
Dominic Wheatley of Guernsey Finance discusses how the island remains a dominant player in captive insurance
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
Hiring a new head of insurance supervision will improve communication and collaborative relations between CIMA and its licensees, the authority says
Jacqui Kipfer of Bespoke Software suggests that masters of the data-verse are able to enjoy a competitive edge
After recent developments and growth in the Bermuda reinsurance market, Jason Flaxbeard of Beecher Carlson explains how captives might take advantage in the future
Alan Fine of Brown Smith Wallace explains three key options to maintain compliance with changes to Section 831(b)
Attendees at this year’s Guernsey Insurance Forum heard how Guernsey is positioning itself as a ‘significant player’ in the international insurance community
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
FERMA conference attendees heard how the implementation of protected cell company legislation has helped with innovation in Malta
Captives and risk managers need to be in control of their claims processes and information flows, according to Gwenny Nales of Van Ameyde
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
The Pacific Catastrophe Risk Insurance Facility Act provides insurance coverage benefits and enhances opportunities in the region, says Tamatoa Jonassen
It is disappointing when measures that result from misperceptions add to the administrative costs of operating a captive, says FERMA’s Jo Willaert
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
China is looking to stretch the boundaries of captive insurance strategies, according to Dominic Wheatley of Guernsey Finance
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
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
The Asia Pacific is opening up to insurance, but it’s China that’s grabbing the headlines
Karl Huish and TJ Scherer discuss how Artex’s pooling mechanism allows middle-market businesses to share their workers’ compensation risks
Captive insurance models in healthcare can help to drive quality and safety improvements, says Eric Dethlefs of Cassatt Insured Group
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
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
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
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
Martin Ellis of Comerica Bank explains how letters of credit function, and what each party requires from the process
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
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
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
Captive professionals can expect much from Airmic 2016
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
Captives are expanding their horizons like never before, heard attendees of the CICA International Conference in Scottsdale, Arizona
The prolonged soft market aside, captives aren’t doing too badly right now
The new IAIS paper recognises and describes the unique nature and risks of various types of captives, says Alice Kane of Duane Morris
CICA’s Dennis Harwick and Michael Bemi reveal what attendees can expect from the upcoming conference in Scottsdale, Arizona
Competition keeps domiciles on their toes, says Melisa Johnson of AMS Insurance
Using captives for employee benefits delivers major advantages to companies and workers, says John Miskel of Zurich Global Life, North America
A new international framework is targeting tax avoidance—and it has implications for captive insurers. Jenny Coletta of Ernst & Young explains
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
Matthew Fountain of AIG discusses the UK’s diverted profits tax
There are many advantages to domiciling in the Bahamas. Aliya Allen of the Bahamas Financial Services Board explains
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...
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)
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
Vanuatu is a friendly jurisdiction willing and ready to do business, according to Kevin Lindsay, chairman of the Vanuatu captive insurance association
Angling to find the right domicile? Try Missouri, says Maria Sheffield, who is the captive programme manager at the state’s insurance department
Belen Navarro and Ross Connell of AIG discuss why insureds might consider utilising a captive insurance programme to address cyber risk
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
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)
Understanding the pitfalls is the first step in avoiding them, according to Matt Hayner and Paul Lefurgey of Madison Scottsdale
Risk mitigation and alternative risk management strategies equate to smart decision-making, say Megan Brooks and Lance McNeel of Capstone Associated Services
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
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
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
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
Captive conferences educate and inform in equal amounts. The Captives & Corporate Strategies Summit in Toronto did its bit to teach the industry...
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
Gus Frangi of AMS Insurance gives an in-depth introduction to the complex and oft misunderstood world of Tax Information Exchange Agreements...
Gibraltar is the domicile of choice for many start-ups. Steven Lawler of Aon Insurance Managers explains why this is the case
Significant developments within the sector in Gibraltar and Europe may have a lasting impact, says Steve Quinn of Quest Insurance Management...
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
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
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
Jason Loffredo of Comerica Bank outlines what captives should consider when choosing a financial consultant
Tom Stokes of JLT Insurance Management Limited offers predictions for the captive insurance industry in 2015
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 Bahamas sets itself apart from other captive domiciles, as Peter Strauss of The Strauss Law Firm explains
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...
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
Captives and their managers are ready for Solvency II in Malta, while the PCC structure remains a key reason for calling the island home...
SMEs are adopting a group mentality when they consider captive solutions, says Clayton Price of Marsh Management Services Cayman...
Nuno Antunes of AIG Global Risk Solutions explains why the captive fronting market is as dynamic as ever...
How is the economic climate affecting captives’ bond portfolios? Colleen McHugh of Barclays takes a look
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
Karen Amos and Donna Smith of AIG Global Risk Solutions in Bermuda look behind the curtains of multinational captive fronting programmes
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
Self-funding has long proven to be the most efficient form of financing healthcare insurance, says Phillip Giles of QBE North America
Nigel Feetham of Gibraltar law firm Hassans plots the history of information, and what it could do for insurance in the future
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
Not-for-profit captives have been making the most of their distinct advantages
A picture paints a thousand words, but what about an insurance policy? Milliman’s Michael Meehan takes a look
Three non-traditional insurance arrangements are, in principle, the same, yet they operate very differently, says Stuart King of FR Global Advisors
Tom Stokes of JLT Insurance Management Limited revisits the Rent-A-Center case and asks what it means for captive insurance companies
An effective relationship with your custodian is critical to the operations of your captive, says Xina Stewart of Comerica Bank
Captives of all shapes and sizes should take notice of pooling arrangements
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
The annual Airmic conference in Birmingham gave attendees the low-down on procurement issues, cyber products and more
The European Insurance Forum explored issues facing the industry and celebrated 25 years of international insurance and reinsurance in Ireland
Link insurance purchase strategy to risk management and financing efforts to realise a captive’s maximum potential, says Stuart King of FR Global Advisors
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
Philip Box of Cunningham Lindsey Group Limited looks at the demands that captives and risk managers place on their adjusters
Audited financial statements are worthwhile, but invasive procedures that are expensive, redundant and self-serving are not, says Linda Nethery of Venture Captive Management
Colleen McHugh of Barclays Wealth & Investment Management looks at the impact of rising interest rates on captives domiciled in Guernsey
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
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
Major organ transplants aren’t cheap, as premiums are revealing
AIG’s new Bermuda-based segregated accounts company is the latest in a line of inventive captive offerings from managers
Paul Owens of of Willis Global Captive Management looks at the key challenges for the insurance industry in the next 15 years
The Captive Insurance Companies Association International Conference in Scottsdale, Arizona, revealed that state and federal regulatory issues will continue to grow
Rent-A-Center v Commissioner answered some questions, but posed others. Alan Fine of Brown Smith Wallace explains
Carey Olsen’s Christopher Anderson takes an in-depth look at ILS
Industry players are watching the insurance-linked securities story with interest
What’s on the cards for protected cell companies in Gibraltar? Alain Dufraisse of Aon Insurance Managers and White Rock Insurance takes a look
For standalone captives or cell captives, the British Overseas Territory provides the best of both worlds, says Robus Gibraltar’s Tom Stephenson
The turn of the year marked the beginning of the two-year transitional period between individual national insurance legislation regimes and Solvency II
David Herratt of the Labuan International Business and Financial Centre explains what goes in to the decision to establish a captive
US life insurers are fretting over the NAIC’s review of their captives
The captive formed to settle claims resulting from 9/11 is being converted into a commercial insurance entity. CIT takes a look
Experts offer an insight into Malta as a captive insurance jurisdiction
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
Gibraltar deserves to become the captive insurance industry’s European domicile of choice, says Derren Vincent of Willis Management
Despite significant delays, Luxembourg is going ahead with its implementation of Solvency II. Ernst & Young’s Brice Bultot takes a look
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
CIT tuned in to the latest Strategic Risk Solutions webinar to find out why a not-for-profit organisation should consider a captive
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
Alan Pakula and Todd Dashoff of Huggins Actuarial Services outline what captives need to know about economic capital modelling
A detailed operational plan should make choosing a domicile less daunting, says Mike Stalley of FiscalReps
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
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
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
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
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
Celebrating 50 years in risk management, attendees of the Airmic conference were treated to all things insurance. CIT reports from the ground
The threat of litigation may worry some, but surely their insurance provider has their back? CIT takes a look
Why are some US states still wary of the RRG structure? CIT investigates
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
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
Author and lawyer Peter Strauss details the hardships faced by US medical professionals and exposes insurance’s dirty little secret
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
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
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
Michael Luderer of Severn Consultancy UK looks at why the number of regulators is increasing, and how captives should deal with the consequences
Accurate information makes captives tick, says Mark Davies of Avox
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
The 831(b) election offers a host of benefits that captives are watching closely. CIT takes a look
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
CIT delves into reputational risk to see how insurers are helping companies to keep their reps in check
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
Q3 2012 results for risk retention groups are indicative of exceptional business, says ratings firm Demotech’s Douglas Powell
Andrew Barile discusses underwriting reputational risk insurance in a captive instead of using more traditional methods
Lawrence Walters of Aon Risk Solutions looks at the challenges of reserves, LOCs and reinsurance relationships
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
Captive Insurance Times
Jeremy Colombik of MSI and NCCIA chair explains to Becky Butcher that Notice 2016-66 could be detrimental to not just North Carolina, but other domiciles that are home to smaller captives
Malcolm Newman of SCOR, who leads the ILS taskforce at the London Market Group, talks to Becky Butcher about the last stages of implementation of London’s legislation, and who stands to benefit the most
Given the level of interest and consistency—even in very soft medical stop-loss market conditions—Phillip Giles of QBE North America expects sustained growth for both single-parents and groups, as he tells Becky Butcher
Ahead of the VCIA Annual Conference, new director of financial services, Ian Davis, tells Becky Butcher how the state is working to be more appealing as a domicile without compromising its standards
Becky Butcher speaks to Owen Taylor to find out why the group captive is an attractive alternative to the traditional insurance market for middle-market companies concerned about cost
Protected cells continue to be the vehicle of choice for securitisations. Stewart McLaughlin of Aon reveals how flexibility has been a key factor in their success
Guernsey has seen significant growth in the use of incorporated cells for pension longevity, as Christopher Anderson of Carey Olsen explains
With the insurance market opening up in Guernsey, Nigel Winkett and Dave Bartram of Barclays expect the demand for bank accounts to continue to increase over the coming months
The IRS has increased its scrutiny of captives, but those that follow the rules have nothing to worry about, as John Dies of alliantgroup tells Becky Butcher
As Solvency II continues to become embedded across Europe, Nick Steer of Compre predicts an increase in legacy business as owners seek to optimise the use of their own capital
The soft commercial market has slowed growth in risk retention groups, but they remain poised to operate more efficiently and take advantage of a hardening—if and when it happens. Michael Meehan of Milliman explains
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 of the Utah Captive Insurance Association discusses what attendees can expect from this year’s Western Region Captive Insurance Conference
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
The MJ Student-Run Insurance Company could become the model for risk and insurance education programmes, says Butler University’s Zach Finn
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
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
Although ICC legislation was implemented in Barbados last year, SCCs are still leading the way, according to Lisl Lewis of London & Capital
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
Appleby and Bermuda are optimistic about the future of Latin American captives. Eduardo Fox explains
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
Although it’s typically viewed as a defensive move, BEPS could mean positive things for captives, says Ciaran Healy of Willis Towers Watson
Generali’s Vittorio Zaniboni suggests employee benefits captives have evolved from risk financing tools to proper risk management vehicles
As the sun sets on his tenure as CICA president, Dennis Harwick explains why this adolescent industry is wiser than its years
Norman Chandler is excited to see what Arsenal Insurance Management is capable of in 2017 after last year’s acquisition spree
Since Mauritius introduced captive legislation at the beginning of 2016, interest in the jurisdiction has increased, as Harvesh Seegolam explains to Becky Butcher
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
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
Haste will undoubtedly be a key component of London’s ILS proposition, says William Hogarth of Clyde & Co
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
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...
Exchange Re’s John Tortell explains how Malta can become an ILS hub
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 of Zurich suggests it will be interesting to see how regulators react and begin to craft legislation, controls and requirements around cyber
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
Tennessee continues to surpass expectations in terms of year-on-year captive growth, according to Kevin Doherty of Nelson Mullins Riley & Scarborough
Although the Panama Papers brought focus to the appropriate use of a captive, Mike Stalley of FiscalReps suggests the leak could benefit the industry
Economic changes in Canada have companies considering captives in warmer climes for their insurance coverage. Kim Willey of ASW Law explains
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
Although captives are adapting to the ongoing soft market, regulation continues to be a problem. Jason Flaxbeard of Beecher Carlson explains more
Groups and cells are among the best options for gaining access to the Terrorism Risk Insurance Act, according to Thomas Stokes of JLT Towner
Attendees can expect a diverse range of topics at this year’s North Carolina Captive Conference, according to Jesse Coyle
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
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 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 of Marsh Captive Solutions breaks down the 9th Captive Benchmarking Report to reveal how the captive market has changed
Andrew Rothseid of RunOff Re.Solve says a perfect storm is brewing in a global run-off market that continues to expand and evolve
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
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
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
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 discusses his new role as adviser at Cim Global Business, as well as the state of the captive insurance market
David Gibbons reveals what delegates can expect from this year’s Bermuda Captive Conference, and how Bermuda is primed for the future
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
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
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
Having completed two high-profile acquisitions, David McManus of Artex Risk Solutions explains what its new capabilities mean for clients and the captive industry
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
Captives offer financial flexibility while serving as a nexus to springboard discussions and actions, according to John Thomson of HAI Group
Insurance-linked securities could be an alternative to traditional reinsurance, and Bermuda is the place to explore the possibilities, says Brad Adderley of Appleby
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, 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
Oklahoma’s regulatory modernisation embraced innovative ideals to meet the needs of Oklahomans, says insurance commissioner John Doak
The Cook Islands has the ingredients to a be success, says Tamatoa Jonassen of the Financial Services Development Authority
Established early last year, interest in PICs is growing. Derek Stenson and Ramesh Maharaj of Walkers Global take a look at the specifics
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
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
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
Cassatt Insurance Company’s Eric Dethlefs reveals how the healthcare group captive’s members work together to share best practices and risk
Crawford & Company’s Benedict Burke believes that captives should consider the customer journey when settling claims made against them
The future for captives looks fantastic—not only in Utah but around the world, according to the insurance department’s David Snowball
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
JLT Insurance Management has expanded its Isosceles facility in the US. Thomas Stokes explains the benefits of the sponsored cell structure
The insurance-linked securities market is pivoting to focus on bringing new types of risk and new sponsors. Aaron Koch of Milliman explains
Any uncertainty in the US arises from external forces, says Vermont’s Dan Towle
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
Captive insurance can help oil and gas companies to mitigate financial risk. Lance McNeel of Capstone Associated Services explains
The restrictions written into RRG reform are important to future expansions of the LRRA, says Dustin Partlow of JLT Towner Insurance Management
Education is the key to continued growth in the South Pacific, says Dean Spense of Captive Insurance Solutions New Zealand
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
MAC’s Kieran O’Mahony looks ahead to this year’s Cayman Captive Forum
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
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
Captives are increasingly including employee benefit schemes in their businesses, notes Ludovic Bayard of Generali Employee Benefits Network
AMS Insurance director Derek Lloyd discusses the reasons behind captive formations, re-domiciliations and liquidations
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’s captive expert, explains where captive insurance is at the moment, and where it is heading in the future
Domicile discussions have become much more sophisticated, says John Rehagen of the Missouri Department of Insurance
Innovative Captive Strategies’s purchase of Aceterrus Insurance Resources is a sign of yet more growth in the captive management sector
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
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
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
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
Return on investment remains secondary to protecting capital, according to Gordon Anderson and Neil Jamieson
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
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 of Zurich explains why Asia is looking to take the captive concept beyond the usual risk transfer, and how far the region has come...
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...
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
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..
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
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 of Allied Professionals Insurance Company shares his insider’s perspective on the case of the risk retention group in Nebraska
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
Despite a rise in the number of insurers writing cyber risk, an air of trepidation remains, says Jamie Bouloux of AIG
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...
London & Capital’s new indices could provide an invaluable edge for owners and managers alike, as William Dalziel explains...
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...
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
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...
Puerto Rico is the latest domicile to enter the ILS and catastrophe bond market. Angela Weyne, commissioner of insurance, reveals why
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
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
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
Nevada is watching captive changes at the NAIC closely, says Michael Lynch
With a thriving captive industry already established, Delaware’s next challenge is to oppose the newest NAIC proposal, says Steve Kinion
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
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
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
CCIA’s Thomas Hodson explains the state’s captive insurance vision...
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
Captive Insurance Companies Association vice chairman Scott Beckman’s summary of what to expect at this year’s CICA conference
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
President David Ramer and programme manager Lance Abbott of BevCap Management discuss why their new cell captive had to domicile in Hawaii
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...
CIT talks to Peter Mackay of Global Captive Management about the conflict of interest that can arise without an independent manager focused on service
Price increases in commercial insurance have encouraged long-term care facilities to consider captives, as CSI International Underwriting’s JS de Jager tells CIT
CIT talks to Jim Arnold of the Texas Captive Insurance Association, ahead of the association’s first annual conference in Austin next year
CIT catches up with ASHRM executives ahead of the association’s annual conference to find out what’s in store for attendees this year
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
Zurich’s Veronique Méautte-Evans puts forward the case for reinsurance captives to CIT
CIT talks to Pierre Sonigo of FERMA ahead of the federation’s upcoming forum to talk risk management, agendas and helping new recruits
CIT catches up with Siew Wai Wan of Fitch Ratings to dig a little deeper into the firm’s recent reinsurance discoveries
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 of Marsh put forward a case to CIT for choosing a protected cell company over a single parent captive
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
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 of the Bahamas Financial Services Board tells CIT how the country has managed to put itself back on the captive map
Derek Martisus of Performa tells CIT why investment funds are a viable solution for small- to mid-sized captive companies
Consultant David Herratt tells CIT about the attraction associated with the little known Malaysian federal territory of Labuan
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
CSI International Underwriting’s David Roberts and JS de Jager tell CIT why being an independent company is integral to managing captive clients
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
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
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
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
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
Education continues long into a career. CIT finds out about the International Center for Captive Insurance Education from executive director Mitch Cantor
Günter Dröse of ECIROA tells CIT about Solvency II and captive owners
CIT talks to Marty Scherzer of AIG about risk profiles and why alternative risk transfer vehicles are sometimes the answer to traditional insurance needs
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CIT talks to Paul Dassenko of Risk Transfer Underwriting about potential exit strategies, collateral stacking and forgetting the past
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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
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CIT talks rent-a-captives with Simon Kilpatrick of Advantage Insurance Management to see what the facility offers the industry
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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
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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
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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
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CIT goes behind the scenes of A.M. Best with Steven Chirico to discover how the ratings process really works
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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
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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
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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
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CIT talks to Richard Clark of Xuber about why servicing the captive sector is a little different
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CIT talks to Pedro Reis of the Cayman Islands Monetary Authority about how healthcare captives are faring on the island
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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
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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
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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
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Hanover Stone Partners has launched CaptiveGuard for captive insurance companies and their parent organisations, as CIT finds out
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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
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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
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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
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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
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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
Captive Insurance Times
UK’s ILS legislation to be in place for January renewals
17 October 2017 | London | Reporter: Jenna Lomax
Malcolm Newman, CEO of Scor’s London hub and sponsor of the London Market Group’s (LMG) ILS Taskforce is “cognisant of the time pressures if ILS applications are to be made in time for 1 January renewals”
Centaur Fund Services adds ILS head
16 October 2017 | Bermuda | Reporter: Becky Butcher
Centaur Fund Services has appointed IC Condat as its head of insurance linked-securities (ILS), based in the firm’s Bermuda office
Roundstone and HUB team up on captive programme
16 October 2017 | Ohio | Reporter: Becky Butcher
Roundstone Management and HUB International have partnered up to create self-funded medical captive programmes
Sun Life and Pareto launch stop-loss group captive
13 October 2017 | Massachusetts | Reporter: Becky Butcher
Sun Life and Pareto Captive Services have teamed up to establish a new stop-loss group captive solution, Legend Re
DARAG names new CEO of its Italian operation
13 October 2017 | Milan | Reporter: Becky Butcher
European run-off insurance company DARAG has appointed Tullio Ferrucci as CEO of DARAG Italia, following the acquisition of ERGO Assicurazioni
Cybercrime losses set to increase, says cyber risk expert
12 October 2017 | London | Reporter: Becky Butcher
Losses from cybercrime are only likely to increase because of far-reaching global connectivity, warned James Trainor, Aon’s senior vice president of cyber solutions
Axial Benefits Group complete captive deal
12 October 2017 | Massachusetts | Reporter: Becky Butcher
Axial Benefits Group has completed a medical stop-loss transaction with QBE North America to enhance its healthcare purchasing coalition operations
Cayman captive growth continues
11 October 2017 | Grand Cayman | Reporter: Becky Butcher
The Cayman Island’s captive insurance industry has set a ‘brisk pace’ to new formations so far this year with 23 new licenses issued
First Vermont captive invests in affordable housing tax credits
10 October 2017 | Burlington | Reporter: Becky Butcher
CPA Mutual Insurance Company of America Risk Retention Group is the first captive insurance company to take advantage of Vermont’s Affordable Housing Tax Credit programme
Green Mountain recruits Chris Kramer
10 October 2017 | Burlington | Reporter: Becky Butcher
Green Mountain Sponsored Captive Insurance Company has appointed Chris Kramer as its managing director
KBRA hires new rating director
09 October 2017 | New York | Reporter: Barney Dixon
Kroll Bond Rating Agency has appointed Donna Halverstadt as managing director of its insurance ratings group
Robus Guernsey hires David Riley
09 October 2017 | New York | Reporter: Becky Butcher
Riley will be working on the set up of what is believed to be the first fully independent longevity swap incorporated cell company (ICC) for the group
Capstone hires David Osbourn
06 October 2017 | Houston | Reporter: Barney Dixon
Capstone Associated Services has hired David Osbourn as director of business development, for the Northeast and mid-Atlantic regions of the US
New president takes the reins at Marsh Captive Solutions
05 October 2017 | New York | Reporter: Stephanie Palmer
Ellen Charnley has been names as president of Marsh Captive Solutions, effective immediately
Sovos acquires FiscalReps
05 October 2017 | London | Reporter: Becky Butcher
Tax compliance and reporting software firm Sovos has acquired FiscalReps
Connecticut welcomes Charter Communications captive
04 October 2017 | Hatford | Reporter: Becky Butcher
Connecticut’s governor Dannel Malloy has revealed that Charter Communications, a cable company, has established its entire captive insurance operations in the state
APS selects Artex to provide insurance management services
04 October 2017 | St Peter Port | Reporter: Becky Butcher
Artex Risk Solutions has been selected by the British Airways (BA) pension scheme to provide insurance management services for the administration of scheme’s new Guernsey-based insurance company
Ventiv buys Webrisk from Effisoft
04 October 2017 | London | Reporter: Becky Butcher
Ventiv Technology has acquired Webrisk from Effisoft SAS, the risk and insurance and reinsurance solutions firm
Michael Scott joins Allison & Mosby-Scott
04 October 2017 | Illinois | Reporter: Becky Butcher
Allison & Mosby-Scott has hired Michael Scott as a partner of the firm
Dow Chemical captive rated ‘excellent’
04 October 2017 | Oldwick | Reporter: Barney Dixon
A.M. Best has affirmed the financial strength rating and long-term issuer credit rating of Dorinco Reinsurance Company at “A (Excellent)” and “a”, respectively, and their outlook remains stable
Tennessee updates captive legislation
03 October 2017 | Nashville | Reporter: Becky Butcher
New captive legislation is to set Tennessee apart from other US captive insurance domiciles, according to the state’s Department of Commerce and Insurance (TDCI).
Clark & Gentry set to close captive operations
03 October 2017 | New York | Reporter: Becky Butcher
Clark & Gentry PLLC will close its captive operations as of 31 December this year
A.M. Best gives the Greenlight
02 October 2017 | Oldwick, New Jersey | Reporter: Jenna Lomax
Greenlight Reinsurance is a broker market reinsurer writing a combination of property, casualty and specialty reinsurance business
Stellar Insurance rated ‘excellent’
29 September 2017 | London | Reporter: Barney Dixon
Stellar Insurance Limited has received a financial strength rating and long-term issuer credit rating of “A (Excellent)” and “a”, respectively, from rating agency A.M. Best
MetLife appoints Mark Baldwin
29 September 2017 | London | Reporter: Becky Butcher
MetLife has appointed Mark Baldwin as business development director for its UK employee benefits business, in a bid to strengthen its market presence
CICA launches mentorship programme
28 September 2017 | Minneapolis | Reporter: Jenna Lomax
The Captive Insurance Companies Association (CICA) has launched a mentorship programme to prepare students for a career in the captive insurance industry
RRGs continue to exhibit financial stability, says Powell
28 September 2017 | Ohio | Reporter: Jenna Lomax
Risk retention groups (RRGs) collectively reported $1.9 billion of direct written premium through Q2, a decrease of nearly 1 percent over the same period previous year, according to Demotech’s senior financial analyst Douglas Powell
New Coverys syndicate to focus on healthcare captives and RRGs
27 September 2017 | Boston | Reporter: Becky Butcher
Coverys is set to establish a new syndicate that will write medical liability insurance and healthcare reinsurance, with a focus on healthcare captives and risk retention groups (RRGs)
Peter Hewitt retires from FiscalReps
26 September 2017 | London | Reporter: Becky Butcher
Peter Hewitt has retired from his role as client director at FiscalReps, after serving at the company since 2012
A.M. Best affirms ratings of Schlumberger’s captives
26 September 2017 | Oldwick | Reporter: Becky Butcher
The financial strength rating and long-term issuer credit rating of Schlumberger Limited's captive insurance companies have been affirmed at “A (Excellent)” and “a”, respectively, by rating agency A.M. Best
KBRA opens Dublin office
26 September 2017 | Dublin | Reporter: Becky Butcher
Kroll Bond Rating Agency (KBRA) has expanded its presence in Europe with the opening of a Dublin office
New director-general for Labuan FSA
26 September 2017 | Kuala Lumpur | Reporter: Becky Butcher
The Labuan Financial Services Authority (FSA) has appointed Encik Danial Mah bin Abdullah as the new director-general for a three-year term, effective 3 October
Lottoland PCC receives licensing approval in Gibraltar
25 September 2017 | Gibraltar | Reporter: Becky Butcher
Lottoland has been granted an insurance license by the Financial Services Commission in Gibraltar for its newly established protected cell company (PCC)
Marubeni captive affirmed ‘excellent’
25 September 2017 | Hong Kong | Reporter: Becky Butcher
A.M. Best affirmed the rating of Marubeni Corporation’s Micronesia-domiciled captive, Marble Reinsurance Corporation, as “A- (Excellent)”
US and EU sign covered agreement
22 September 2017 | Brussels | Reporter: Becky Butcher
The US and EU have signed the bilateral covered agreement on insurance and reinsurance
Phillips 66 captives affirmed 'excellent'
22 September 2017 | Oldwick | Reporter: Becky Butcher
A.M. Best has affirmed the financial strength rating of “A (Excellent)” and the long-term issuer credit ratings of “a” of Spirit Insurance Company and Radius Insurance Company, the captive insurers for Phillips 66
R&Q completes assignment of deductible liabilities
21 September 2017 | London | Reporter: Jenna Lomax
The liabilities relate to workers’ compensation policies issued between 1988 and 2012 to a US corporate from a large US carrier
A.M. Best affirms Eni’s captive ratings
21 September 2017 | London | Reporter: Becky Butcher
A.M. Best has affirmed the financial strength rating of “A (Excellent)” and the long-term issuer credit of “a” of Eni Insurance Designated Activity Company (EID), a captive of Eni, a multinational oil and gas company based in Italy
ConocoPhillips captive ratings affirmed ‘excellent’
21 September 2017 | Oldwick | Reporter: Becky Butcher
A.M. Best has affirmed the financial strength rating of “A (Excellent)” and long-term issued credit rating of “a” of Sooner Insurance Company (Sooner), the captive insurer of ConocoPhillips
GFSC addresses Solvency II and IAIS capital standards project
20 September 2017 | St Peter Port | Reporter: Becky Butcher
The Guernsey Financial Services Commission (GFSC) has launched a discussion paper seeking the industry’s feedback on the evolution of the island’s global and European insurance capital standards
NCCIA clarifies 831(b) memo
20 September 2017 | Charlotte | Reporter: Becky Butcher
The North Carolina Captive Insurance Association has issued a statement to clarify a memo discussing the 831(b) tax election and the impact on the state’s captive insurance industry should Congress repeal the election
XL Group selects Dublin as post-Brexit location
20 September 2017 | London | Reporter: Becky Butcher
XL Group has revealed its plans to move its principal EU insurance company, XL Insurance Company, from the UK to Ireland in 2018, in response to Brexit
R&Q completes novation from Cayman captive
20 September 2017 | Cayman Islands | Reporter: Becky Butcher
Randall & Quilter (R&Q) Holdings has completed the novation of reinsurance policies issued between 2006 and 2011 from a Cayman domiciled group captive
Thomas Wafer and Jeffery Livingston join Willis Re
20 September 2017 | London | Reporter: Becky Butcher
Willis Re has appointed Thomas Wafer as chairman of the company’s North America business, effective October, while Jeffery Livingston has been named vice chair
Crawford and Company bolsters Asia team
19 September 2017 | Sydney | Reporter: Jenna Lomax
Crawford and Company makes leadership changes in its Asia offices
Cayman captives gain strength from teamwork, says IMAC panels
18 September 2017 | Grand Cayman | Reporter: Jenna Lomax
The Cayman Islands’ strength in captive insurance comes from “its team approach to captives”, according to a panel of experts
Maxis GBN hires new director of underwriting
18 September 2017 | London | Reporter: Jenna Lomax
Fordham will be based in the London office of the joint venture between MetLife and AXA. She joins from MetLife UK, where she was chief pricing underwriter for six years
David Linhardt joins Regions Insurance
18 September 2017 | Birmingham, Alabama | Reporter: Becky Butcher
Regions Insurance, an affiliate of Regions Bank, has appointed David Linhardt as state executive for Arkansas and Texas
Recent disasters put spotlight on the role of captive insurance
15 September 2017 | Vermont | Reporter: Jenna Lomax
The recent spate of natural disasters has focused a spotlight on catastrophic losses and how captive insurance can play an "important role" in helping organisations “defray” some of the related financial losses
BA pension scheme uses captive
15 September 2017 | London | Reporter: Becky Butcher
The British Airways (BA) Airways Pensions Scheme (APS) has used a captive to insure £1.6 billion of pension liabilities against longevity risk
Hurricane Irma to potentially change use of alternative capital instruments
15 September 2017 | Oldwick | Reporter: Jenna Lomax
In the ‘Best’s Briefing’, it explained that the current catastrophe bond market exists primarily to provide reinsurance for catastrophic events like Hurricane Irma
Canada Life Reinsurance enters £1.7 billion longevity agreement
15 September 2017 | Barbados | Reporter: Jenna Lomax
Canada Life Reinsurance has entered into a long-term reinsurance agreement to cover the longevity risk on £1.7 billion of liabilities for pension members of the Marsh & McLennan Companies (MMC) UK Pension Fund
North Carolina addresses possible repeal of 831(b) election
14 September 2017 | Charlotte | Reporter: Becky Butcher
The possible repeal of the 831(b) tax election could be “detrimental” to NC’s captive industry, according to a new memo from the state’s captive association and department of insurance, who have pre-emptively addressed the issue
Vermont captive total hits the 1,100 mark
14 September 2017 | Montpelier | Reporter: Becky Butcher
Vermont’s Governor Phil Scott has revealed that the state’s Department of Financial Regulation has welcomed its 1,100 captive with the licensing of AssureCap Indemnity, a sponsored captive insurance company
BCC: Solvency II bifurcation was a success for Bermuda
14 September 2017 | Hamilton | Reporter: Becky Butcher
Bermuda’s Solvency II bifurcation was “definitely a success”, according to Jeremy Cox, CEO of the Bermuda Monetary Authority (BMA)
Run-off specialists gearing up for increased flows
14 September 2017 | London | Reporter: Becky Butcher
Transaction volumes in the run-off market will continue to grow because of an influx of capital and increased amounts of buyers and sellers of legacy reserves, according to Andrew Beecroft, head of M&A advisory of GC Securities
BCC: Work together and innovate together
13 September 2017 | Hamilton | Reporter: Becky Butcher
Bermuda classes itself as the number one global captive domicile because it has the professionals in the industry that are able to work together and innovate together, attendees heard at the 13th annual Bermuda Captive Conference
BCC: LatAm captives continue to show ‘steady growth’
13 September 2017 | Hamilton | Reporter: Becky Butcher
The Latin American captive market continues to show steady growth in captive creation, according to a panel at the 13th annual Bermuda Captive Conference
BCC: BMA to produce Bermuda Market Review
12 September 2017 | Hamilton | Reporter: Becky Butcher
A Bermuda Market Review, providing an overview of the captive insurance industry, is set to be released in the next few weeks, revealed Graham Lamb, assistant director of the BMA
BCC: Industry must address talent crisis
12 September 2017 | Hamilton | Reporter: Becky Butcher
The insurance industry is experiencing a talent crisis, but the Butler University student-run captive is an important step forward, according to a panel at this year’s annual Bermuda Captive Conference
London’s ILS success depends on UK regulator
12 September 2017 | London | Reporter: Becky Butcher
London’s new ILS framework can make the city the global hub for innovative ILS solutions, but only if the UK regulator adopts a proportionate and responsive approach appropriate to the nature, scale and complexity of the risks assumed
SRS forms Bermuda SAC
11 September 2017 | Bermuda | Reporter: Becky Butcher
Strategic Risk Solutions (SRS) has launched Superior Risk Solutions SAC, a class 3 segregated accounts company in Bermuda
BCC: Bermuda captive insurers boosts island’s economy
11 September 2017 | Hamilton | Reporter: Becky Butcher
The Bermuda captive insurance industry contributes an estimated $174 million every year to the island’s economy, according to a new research study conducted by PwC
Insurers are increasingly concerned about “silent cyber” exposure, a recent Willis Re poll revealed.
Bermuda and Cayman captives sustain strong operating results
11 September 2017 | Oldwick | Reporter: Jenna Lomax
The results suggested that the levels of growth were profitable and in line with historical averages, marking it the fifth year of above-par operating results
ABA captive committee welcomes John Dies
11 September 2017 | Houston | Reporter: Becky Butcher
John Dies, alliantgroup’s managing director of tax controversy, has been appointed to the American Bar Association’s (ABA) Captive Insurance Committee
SGS captive ratings affirmed ‘excellent’
11 September 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 Transmonde Services Insurance Company, the single-parent captive of SGS
GC Securities and Marsh team up to launch SAC
11 September 2017 | New York | Reporter: Becky Butcher
The joint venture provides a cost-effective placement process for collateralised reinsurance and private catastrophe bond deals
DARAG completes Ikano captive transaction
08 September 2017 | Jerusalem | Reporter: Katherine Brown
DARAG has completed an Israeli reinsurance transaction and received regulatory approval for the acquisition of Ikano Försäkring, the Stockholm-based Swedish captive owned by Ikano Group
Rembrandt Insurance captive rated 'excellent'
08 September 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” of Rembrandt insurance company
Guy Carpenter welcomes senior exec duo
08 September 2017 | London | Reporter: Becky Butcher
Guy Carpenter & Company has appointed Andre Eisele as CEO of the Pacific region, while Heinrich Eder will join the company’s advisory board in the same region
ILS figures continue to reach new record highs
08 September 2017 | Chicago | Reporter: Becky Butcher
A record $11.3 billion of catastrophe bonds were issued across 32 transactions over 12 months from June last year, surpassing the previous record issuance by 20 percent, Aon Securities has revealed
South Carolina captive conference rescheduled
08 September 2017 | Charleston | Reporter: Becky Butcher
The South Carolina Captive Insurance Association (SCCIA) has rescheduled its annual conference after “careful consideration” in light of Hurricane Irma’s threat to the South Carolina coast
Jesse Olsen joins SRS
08 September 2017 | Houston | Reporter: Becky Butcher
Strategic Risk Solutions has appointed Jesse Olsen as senior consultant for SRS Advisers, the company’s consulting division, based in Houston, Texas
Charles Taylor extends workers’ comp capabilities
07 September 2017 | California | Reporter: Becky Butcher
Charles Taylor has agreed to acquire Metro Risk Management LLC (MRM), a Southern California third-party claims administrator, from Nautilus International Holding Corporation
Atlas approved as captive manager in Georgia
07 September 2017 | Charlotte | Reporter: Becky Butcher
Atlas Insurance Management has received approval from the Georgia Insurance Department to act as a captive manager for captive insurance companies domiciled in the state
Coverys to merge with Global Insurance Management
07 September 2017 | Boston | Reporter: Becky Butcher
Coverys and Global Insurance Management Company (GIMC), both in the medical professional liability sector, have entered into a merger agreement whereby Coverys’s ProMutual Group will acquire GIMC
Avrahami captive was ‘destined to fail’, says Capstone
06 September 2017 | Houston | Reporter: Becky Butcher
Captives that are “poorly designed and half-heartedly managed” such as the entity at dispute in the Avrahami litigation are “destined to fail”, Capstone’s Lance McNeel has said
Negative outlook on reinsurance industry continues
06 September 2017 | Oldwick | Reporter: Jenna Lomax
A.M. Best continues to hold its outlook for the reinsurance sector at "negative", suggesting the ongoing market challenges “hinder” the potential for positive ratings action
XL Catlin creates captive centre of excellence
06 September 2017 | London | Reporter: Becky Butcher
XL Catlin has established a captive centre of excellence after appointing Owen Williams to its captive team
Bermuda’s premier to kick off island’s captive conference
05 September 2017 | Hamilton, Bermuda | Reporter: Becky Butcher
Bermuda Premier David Burt is to open the Bermuda Captive Conference in Hamilton next week, which is set to host over 1,000 delegates
Compre completes sixth acquisition this year
04 September 2017 | Switzerland | Reporter: Becky Butcher
Compre, the insurance and reinsurance legacy specialist, has provided a legacy solution to a portfolio of AXA Insurance
Hurricane Harvey economic losses could reach $90 billion
04 September 2017 | Houston | Reporter: Becky Butcher
Catastrophe risk modelling agency RMS has predicted that economic losses caused by wind, storm surge and inland flooding from Hurricane Harvey could reach $70 to £90 billion
R&Q sees positive growth in first half of year
04 September 2017 | London | Reporter: Jenna Lomax
According to the insurance investor, the favourable results were aided by commutation activity in the US and favourable development in certain captive accounts
PARIMA to address emerging risks at Singapore conference
01 September 2017 | Singapore | Reporter: Katherine Brown
The upcoming Pan-Asia Risk and Insurance Management Association conference is to discuss relevant topics around emerging risks and how to better prepare for the future, according to Franck Baron, chair of PARIMA
EPM captive rated excellent
01 September 2017 | Oldwick | Reporter: Becky Butcher
A.M. Best has affirmed the financial strength rating of “A- (Excellent)” and long-term issuer credit rating of “a-“ of Maxserguros EPM, the single-parent captive insurer of Empresas Publicas de Medellin E.S.P. (EPM)
Zurich’s Cecilia Reyes to retire
01 September 2017 | London | Reporter: Becky Butcher
Cecilia Reyes is set to retire from her role as group chief risk officer at Zurich Insurance Group in Q1 next year
The time is right for European expansion, says SRS
01 September 2017 | Dublin | Reporter: Becky Butcher
The timing of SRS European expansion is right with Solvency II beginning to bed down, according to Stuart King, president and CEO of SRS Europe
Marsh bolsters UK industry practice team
31 August 2017 | London | Reporter: Jenna Lomax
Nayler will report to Charles Beresford-Davies, risk management practice leader for the UK and Ireland
Tenant Property Protection appoints captive expert Richard Marshall
31 August 2017 | Arizona | Reporter: Becky Butcher
Captive insurance expert Richard Marshall has joined Tenant Property Protection’s board of directors
CapAlt selected as captive management services provider
31 August 2017 | Atlanta | Reporter: Becky Butcher
The Financial Engineering Institute’s (FEI) network has selected Captive Alternatives (CapAlt) to provide captive insurance company management services
Hawaii approves licence for new Atlas Insurance Agency captive
30 August 2017 | Honolulu | Reporter: Becky Butcher
Atlas Insurance Agency’s new wholly-owned captive has received licensing approval from the insurance division of the Hawaii Department of Commerce and Commerce Affairs
Russell Group launches new modelling service
30 August 2017 | London | Reporter: Becky Butcher
Russell Group has launched ALPS Casualty to support the analytical modelling of liability exposures stemming from the corporate industry
Coastal Medical withdraws from A.M. Best ratings
30 August 2017 | Oldwick | Reporter: Becky Butcher
Coastal Medical Insurance has requested to withdraw from the A.M. Best interactive ratings process
Avrahami might not have all the answers, says Feldman
29 August 2017 | Houston | Reporter: Becky Butcher
The US Tax Court’s ruling in Avrahami might not be the victory for the IRS that everyone thinks it is, according to Stewart Feldman, CEO and general counsel of Capstone Associated Services
New York Tax Tribunal disallows payments to captive insurer
25 August 2017 | New York | Reporter: Becky Butcher
Payments that Stewart’s Shops made to its captive insurance subsidiary Black Ridge Insurance Corporation (BRIC) “were not deductible premiums for determining federal taxable income”, according to the New York Tax Appeals Tribunal
A.M. Best affirms UnipolRe ratings
25 August 2017 | 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 UnipolRe Designated Activity Company (UnipolRe), based in Ireland
Avrahami provides clarity for 831(b)s
25 August 2017 | Burlington | Reporter: Becky Butcher
The ruling of the Avrahami vs Commissioner of Internal Revenue court case finally provides additional clarity for captives organised under Section 831(b), according to Anne Marie Towle of JLT
RMC opens London offices
24 August 2017 | London | Reporter: Stephanie Palmer
The RMC Group has opened two new offices in the UK, in a move that it has called a “strong statement” of intent to build on its international presence
Customer service is key to captive redomestications
23 August 2017 | Charlotte | Reporter: Becky Butcher
Customer service is key to attracting potential captive insurers to a particular jurisdiction, according to Leanne Refalko, senior captive insurance specialist at the North Carolina Department of Insurance
Hawaii appoints new insurance administrator for commerce
23 August 2017 | Honolulu | Reporter: Jenna Lomax
The state of Hawaii has promoted Andrew Kurata to acting insurance administrator for the department of commerce and consumer affairs insurance division
Experts react to Avrahami
23 August 2017 | Washington DC | Reporter: Becky Butcher
The US Tax Court’s decision to back the Internal Revenue Service in its dispute with Benyamin and Orna Avrahami over their micro captive should encourage those involved in similar arrangements to revisit them
NCCIA: North Carolina’s captive figures almost doubled in 2016
22 August 2017 | Charlotte | Reporter: Becky Butcher
The number of North Carolina’s licensed captive companies grew by 91 percent last year, while approved protected cells and series saw an increase of over 50 percent
NCCIA praises captive industry for work
22 August 2017 | Charlotte | Reporter: Becky Butcher
The North Carolina Captive Insurance Association Annual Conference kicked off this week with Thomas Adams, president and CEO, thanking those in the industry who have helped make the state’s captive market the success it is today
Willis Towers Watson reinforces employee benefit captive consulting
22 August 2017 | London | Reporter: Mark Dugdale
Willis Towers Watson has hired Paul Devitt as director in its global services and solutions consultancy practice, where he will focus on employee benefit captive consulting
Disappointing outcome for micro captives in Avrahami
22 August 2017 | Washington DC | Reporter: Becky Butcher
The US Tax Court has backed the Internal Revenue Service’s decision to deny Benyamin and Orna Avrahami access to the Internal Revenue Code Section 831(b) election for certain financial years
Central Bank of Malaysia calls for more captive data
21 August 2017 | Kuala Lumpur | Reporter: Mark Dugdale
The paucity of data on captives needs to be addressed as a matter of priority, according to Muhammad bin Ibrahim
Crawford & Company appoints Latin America lead
18 August 2017 | London | Reporter: Becky Butcher
Crawford & Company has named Roberto McQuattie as regional head of Latin America to oversee operations across the company’s network of 15 offices in the region
London to bring innovation to ILS market
18 June 2017 | London | Reporter: Becky Butcher
London will be able to bring the kind of innovation to the insurance linked-securities (ILS) seen in Guernsey’s first ever blockchain-backed deal, according to Malcolm Newman of SCOR
Excellent ratings for Scotia Reinsurance
17 August 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 Scotia Reinsurance, located in Barbados
Captive industry prepares to gather in North Carolina
17 August 2017 | Charlotte | Reporter: Becky Butcher
The North Carolina Captive Insurance Association is ready to kick off its third annual event on 21 August, with more than 200 delegates expected to attend
Greenlight for Michael Belfatti
16 August 2017 | Grand Cayman | Reporter: Becky Butcher
Greenlight Capital Re has appointed Michael Belfatti to the newly created position of COO
Orion Risk Management enhances client network
16 August 2017 | California | Reporter: Becky Butcher
Orion Risk Management has partnered with Friedmann & Friedmann Insurance Services, a South California-based insurance broker, to enhance its client and employee network
JLT Re welcomes new VP for western region
15 August 2017 | San Francisco | Reporter: Jenna Lomax
Ferrier will be based in the San Francisco office from September, focusing on global, regional and managing general agent business
The Bahamas offers Associate in Captive Insurance scholarships
15 August 2017 | Nassau | Reporter: Mark Dugdale
The Bahamas Financial Services Board and the jurisdiction’s insurance commission are partnering up to provide two full scholarships for the Associate in Captive Insurance designation
Fidelis adds Charles Mathias to board
14 August 2017 | Hamilton | Reporter: Mark Dugdale
Bermuda-based insurance and reinsurance company Fidelis Insurance has strengthened its board with the addition of group chief risk officer Charles Mathias
Michael Scott steps down from role at ADM
11 August 2017 | Illinois | Reporter: Becky Butcher
Michael Scott, vice president of insurance and risk management at Archer Daniels Midland (ADM), has stepped down from his role
Delaware named ICCIE trained organisation
11 August 2017 | Dover | Reporter: Becky Butcher
The Delaware Insurance Department Bureau of Captive and Financial Insurance Products has been selected to become an International Center for Captive Insurance Education (ICCIE) trained organisation
The Doctors Company and captives given clean bill of health
11 August 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 The Doctors Company and captives
Gibraltar PCCs to write third-party insurance
10 August 2017 | Gibraltar | Reporter: Becky Butcher
Gibraltar’s protected cell companies (PCCs) will soon be permitted to write third-party insurance business, Gibraltar’s minister for commerce, Albert Isola has revealed
Lufthansa captive flies through rating process
10 August 2017 | 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 Delvag Versicherungs, the captive insurer of Deutsche Lufthansa
Connecticut welcomes first healthcare captive
09 August 2017 | Hartford | Reporter: Becky Butcher
Keystone Indemnity Company, the captive of Masonicare, has re-domesticated from Vermont to Connecticut, marking the state’s first healthcare liability captive insurance company
Anne Marie Towle to serve on VCIA and ICCIE boards
09 August 2017 | Burlington | Reporter: Becky Butcher
JLT USA’s Anne Marie Towle has been elected to serve as a director on the boards of the Vermont Captive Insurance Association board and the International Center for Captive Insurance Education (ICCIE)
Aon launches captive feasibility app
09 August 2017 | Illinois | Reporter: Becky Butcher
Aon has developed an app, Aon Captivate, for clients to assess whether a captive is the right solution for them through a full feasibility study
INPEX captive receives ‘excellent’ ratings
09 August 2017 | Hong Kong | 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 INPEX Insurance (IIL) in Bermuda
SRS expands to Europe
08 August 2017 | Dublin | Reporter: Becky Butcher
Strategic Risk Solutions (SRS) has launched an operation in Dublin to serve multinational captive insurance owners operating in Europe
‘First’ blockchain ILS deal done
08 August 2017 | St Peter Port | Reporter: Becky Butcher
Dom Re IC, the ILS reinsurance transformer and incorporated cell of Solidum Re ICC, has issued what it believes to be the first notes to be digitised on a private blockchain
Willis Towers Watson bolsters captive team
07 August 2017 | Hamilton | Reporter: Becky Butcher
Willis Towers Watson has hired Susan Lane as director of consulting and development for North America, as well as senior consultant for the company’s captive practice
What to look out for at VCIA
07 August 2017 | Burlington | Reporter: Becky Butcher
Attendees of this year’s Vermont Captive Insurance Association ‘mission possible’-themed Annual Conference can expect to hear from the industry’s experts on a range of current hot topics
GC Securities completes World Bank’s first listed cat bond
07 August 2017 | New York | Reporter: Becky Butcher
GC Securities has completed the placement of a $360 million three-class catastrophe bond issued by the International Bank for Reconstruction and Development (World Bank)
Financial institution dominance of captive market paves way for smaller banks
04 August 2017 | Washington DC | Reporter: Becky Butcher
Financial institutions’ continued of dominance of the captive insurance market could pave the way for smaller banks to enter the market, according to industry experts
Peter Johnson to lead Spring’s P&C actuarial practice
04 August 2017 | Boston | Reporter: Becky Butcher
Spring Consulting Group has hired Peter Johnson, an insurance and actuarial industry veteran, to lead the company’s property and casualty actuarial team
MMA Trion launches new voluntary benefits captive solution
03 August 2017 | Pennsylvania | Reporter: Becky Butcher
MMA Trion Group, a Marsh & McLennan Agency company, has launched a new captive solution, BeneCap, for employee paid voluntary benefits through an existing captive insurance company
Captives continue to play ‘vital role’ globally
03 August 2017 | Oldwick | Reporter: Becky Butcher
US captives ended 2016 on “strong form” as pre-tax profits rocketed and underwriting results reflected a relatively benign year for catastrophes
Coverage for pre-existing conditions tops healthcare reform concerns
02 August 2017 | Ohio | Reporter: Becky Butcher
Retaining insurance coverage for pre-existing conditions is the most vital feature of successful long-term healthcare reform, according to a survey by KeyBank
Guy Carpenter promotes senior staff in Asia Pacific
02 August 2017 | London | Reporter: Becky Butcher
Guy Carpenter & Company has appointed Tony Gallagher as CEO of the Asia Pacific region, while promoting Richard Jones to chairman of the region
Lottoland hits the jackpot with third ILS deal
01 August 2017 | Gibraltar | Reporter: Becky Butcher
Lottoland has agreed its third two-year long-term deal for its insurance-linked securities (ILS) jackpot insurance Fortuna 3.
Butler University student-run captive officially open for business
01 August 2017 | Indianapolis | Reporter: Becky Butcher
The Butler University College of Business student-run captive will officially launch today (1 August) after two years in the making
KBRA proposes new methodology for rating captives
31 July 2017 | New York | Reporter: Becky Butcher
Kroll Bond Rating Agency (KBRA) has proposed to set out new methodology for rating captive insurance companies
PIC agrees longevity reinsurance deal with SCOR
31 July 2017 | London | Reporter: Becky Butcher
Pension Insurance Corporation (PIC) has agreed a £1 billion longevity reinsurance deal with SCOR, a multi-line company
Record breaking figures for non-life ILS issuance
31 July 2017 | London | Reporter: Becky Butcher
Non-life insurance-linked securities (ILS) issuance reached record highs of $6.3 billion in Q2 2017, continuing the trend from Q1 this year, according to a Willis Towers Watson report
Sirius Group adds Erik Soria to casualty team
28 July 2017 | Hamilton | Reporter: Becky Butcher
Sirius Group has hired Erik Soria to serve as underwriter in the casualty reinsurance team
XL Catlin continues to expand captive team
28 July 2017 | New York | Reporter: Becky Butcher
XL Catlin is set to welcome another addition to its captive team with the hire of Owen Williams from Zurich
Bartlett Actuarial Group rebrands
27 July 2017 | Charleston | Reporter: Becky Butcher
Bartlett Actuarial Group is set to change its name to Risk International Actuarial Consulting, effective 1 August
Risk Strategies acquires Anderson Corporate Solutions
27 July 2017 | Boston | Reporter: Becky Butcher
Risk Strategies has expanded its employee benefits consulting services with the acquisition of specialist life and health benefits firm Anderson Corporate Solutions
Zurich North America names new captive head
26 July 2017 | Illinois | Reporter: Becky Butcher
Todd Cunningham has been appointed head of single-parent and sponsored cell captives for Zurich in North America
Robus hires captive expert
26 July 2017 | St Peter Port | Reporter: Becky Butcher
Robus Risk Services Guernsey has appointed Ben Dunning as director
Clyde & Co continues to expand office space in the US
25 July 2017 | Los Angeles | Reporter: Becky Butcher
Clyde & Co has opened a new office in Los Angeles, marking the company’s ninth US office
Michael Burns to receive Fred Reiss award
24 July 2017 | Hamilton | Reporter: Becky Butcher
Michael Burns, a Bermudian corporate lawyer, has been chosen to receive the second Fred Reiss Lifetime Achievement Award
Excellent ratings for Nuclear Electric Insurance
24 July 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 Nuclear Electric Insurance Limited
Modelling needed for cyber ILS market development
24 July 2017 | Zurich | Reporter: Katherine Brown
Better modelling and pricing metrics are needed before the insurance-linked securities (ILS) marketplace is introduced to cyber risk transfer, Florian Heimann of AIR Worldwide has said
OECD releases additional guidance on CbC reporting
21 July 2017 | Brussels | Reporter: Becky Butcher
The Organisation for Economic Co-operation and Development (OECD) has provided further guidance on the implementation of country-by-country (CbC) reporting under its framework on base erosion and profit shifting (BEPS) initiative
UK government sets out new ILS framework
21 July 2017 | London | Reporter: Becky Butcher
The UK Treasury has published new rules for insurance-linked securities (ILS) as the country aims to grab a share of the rapidly growing market
Arkansas captive tweaks a 'positive step forward', say lawyers
21 July 2017 | Little Rock | Reporter: Becky Butcher
Recent modifications to the captive insurance law in Arkansas are “a positive move forward to support and grow” the industry in the state
Superior ratings for MedGroup Pro
20 July 2017 | Oldwick | Reporter: Becky Butcher
A.M. Best has affirmed financial strength rating of “A++ (Superior)” and long-term issuer credit rating of “aa+” of the members of MedPro Group
Notice 2016-66 missing from Treasury list
20 July 2017 | Washington DC | Reporter: Becky Butcher
Notice 2016-66 is a notable absence from the US Treasury’s Donald Trump-ordered review of tax regulations, despite the Self-Insurance Institute of America (SIIA) asking for its inclusion
North Carolina captive industry sees ‘rapid growth’
19 July 2017 | Raleigh | Reporter: Becky Butcher
The North Carolina captive insurance industry experienced rapid growth in 2016, according to the state’s Department of Insurance
US agrees to sign US-EU covered agreement
18 July 2017 | Washington DC | Reporter: Becky Butcher
The US Department of the Treasury and the Office of the US Trade Representative have revealed their intent to sign the bilateral agreement between the US and EU regarding insurance and reinsurance
Captive Alternatives hires new marketing director
18 July 2017 | Atlanta | Reporter: Becky Butcher
Captive Alternatives, the risk management consultancy, has appointed Emilie Gastley as director of marketing
NSU to launch new surety captive
17 July 2017 | Philadelphia | Reporter: Stephanie Palmer
National Surety Underwriters has raised $11.5 million in funding for the capitalisation of a new special-purpose surety reinsurance captive, the National Fidelity Reinsurance Company
New chief underwriting officer at Tokio Millennium Re
17 July 2017 | London | Reporter: Stephanie Palmer
Tokio Millennium Re has appointed Brian Secrett as chief underwriting officer and a member of the executive committee, effective 1 October
Civil swaps Crawford for Cunningham Lindsey
13 July 2017 | London | Reporter: Becky Butcher
Cunningham Lindsey, a loss adjusting and claims management firm, has appointed Sarah Civil as corporate risks and specialist practice groups director, effective 1 September
Risk Strategies snaps up employee benefits duo
13 July 2017 | Boston | Reporter: Becky Butcher
Risk Strategies Company has welcomed Kate Genovese and Pauline Sobelman to its employee benefits practice group
Severe US weather outbreaks cause £3bn in losses
13 July 2017 | Chicago | Reporter: Becky Butcher
Worldwide economic and insured losses during June were largely driven by several major severe weather outbreaks in the US, according to Aon Benfield’s Impact Forecasting
ComplianceDNA expands team
12 July 2017 | New York | Reporter: Becky Butcher
ComplianceDNA, the US sister company of FiscalReps, has appointed Olivia Larson as client specialist, effective 1 September
XL Catlin hires Ochsenkuehn as head of global programmes
11 July 2017 | New York | Reporter: Mark Dugdale
Ochsenkuehn joins XL Catlin from AIG with more than 15 years of experience in the insurance industry. Most recently, she was head of knowledge strategy and network guidance
ILS continues to drive innovation
11 July 2017 | Zurich | Reporter: Becky Butcher
The insurance-linked securities (ILS) market will continue to drive innovation and efficiency in risk financing for the benefit of protecting buyers and investors, according to Christoph Buerer of Twelve Capital
CIMA names new deputy insurance supervisor
11 July 2017 | Grand Cayman | Reporter: Becky Butcher
The Cayman Islands Monetary Authority (CIMA) has appointed Suzanne Sadlier as deputy head of the insurance supervision division
Malcolm Cutts-Watson to advise Labuan IBFC
10 July 2017 | Kuala Lumpur | Reporter: Becky Butcher
Captive expert Malcolm Cutts-Watson has become a member of the international advisory panel for the Labuan International Business and Finance Centre, having been invited by the Labuan Financial Services Authority
CBL acquires stake in Allied Risk Holdings
10 July 2017 | Dublin | Reporter: Becky Butcher
CBL Corporation has acquired a 40 percent stake in Allied Risk Holdings, a captive insurance management firm in Dublin, for €1.38 million
Ratings affirmed for Shell captives
10 July 2017 | London | Reporter: Becky Butcher
A.M. Best has affirmed the ratings of Solen Versicherungen and Noble Assurance Company, the captives of Royal Dutch Shell
Barclays bolsters IoM captive team
10 July 2017 | Isle of Man | Reporter: Becky Butcher
Barclays has appointed Aaron Hawley as a business banking relationship manager, and promoted James Clegg to captive insurance relationship manager in the Isle of Man
Crowell & Moring appoints insurance duo
07 July 2017 | New York | Reporter: Becky Butcher
Crowell & Moring has appointed John Sarchio as partner and Richard Liskov as senior counsel to the company’s insurance, reinsurance and corporate groups, based in the New York office
Owen-Dunn expands captive footprint
06 July 2017 | California | Reporter: Becky Butcher
Sacramento-based Owen-Dunn Insurance Services has expanded its captive insurance offering, after seeing growing demand from mid-size business owners
Michael Bemi to retire from National Catholic RRG
06 July 2017 | Illinois | Reporter: Becky Butcher
Michael Bemi is set to retire from The National Catholic Risk Retention Group after 18 years in his role as president and CEO, effective 31 August
New chair to join Zurich board
06 July 2017 | Zurich | Reporter: Becky Butcher
Michel Liès is to join Zurich Insurance Group as chairman at the company’s Annual General Meeting, to be held on 4 April 2018
FERMA president to serve additional two-year term
06 July 2017 | Brussles | Reporter: Becky Butcher
The Federation of European Risk Management Association (FERMA) has confirmed that Jo Willaert will remain as president for an additional two-year term
James Kent to head up Willis Re
06 July 2017 | London | Reporter: Becky Butcher
James Kent has been appointed as global CEO of Willis Re, succeeding John Cavanagh, who is stepping down from the role to retire
LSM plans post-Brexit Luxembourg move
05 July 2017 | London | Reporter: Becky Butcher
Liberty Specialty Markets (LSM) intends to move its EU business headquarters to Luxembourg, as part of its post-Brexit strategy
R&Q completes acquisition of AstraZeneca captive
05 July 2017 | Bermuda | Reporter: Becky Butcher
Randall & Quilter Investment Holdings (R&Q) has completed the purchase of AstraZeneca Insurance Company, the captive of The AstraZeneca Group
Moore Stephens merges with James, Brennan & Associates
04 July 2017 | London | Reporter: Becky Butcher
Moore Stephens, an accountancy and advisory firm, has merged with actuarial firm James, Brennan & Associates (JBA)
CWC to provide ‘strategic and technical support’ to GIIA
03 July 2017 | St Peter Port | Reporter: Becky Butcher
The Guernsey International Insurance Association has appointed Cutts-Watson Consulting to provide strategic and technical support to its executive committee and functional sub committees
Compre launches PCC in Malta
03 July 2017 | Malta | Reporter: Becky Butcher
Compre, an insurance and reinsurance legacy specialist, has established a protected cell company (PCC) in Malta, after receiving approval from the Malta Financial Services Authority (MFSA)
July renewals see continued downward pricing, says Willis Re
03 July 2017 | London | Reporter: Becky Butcher
The reinsurance market has maintained the downward pricing trends seen at the January and April renewals, despite Q1 deterioration for many reinsurers’ results, according to the latest Willis Re report
Former NAIC president Huff joins Dentons
30 June 2017 | Kansas City | Reporter: Katherine Brown
Dentons has appointed John Huff as a partner of its insurance regulatory practice in Kansas City
A.M. Best affirms ratings of BP captive
30 June 2017 | London | Reporter: Becky Butcher
A.M. Best has affirmed financial strength rating of “A- (Excellent)” and long-term issuer credit ratings “a-“ of BP’s captive Saturn Insurance, domiciled in Vermont
RRGs remain profitable, says Demotech report
30 May 2017 | Ohio | Reporter: Becky Butcher
Risk retention groups’ (RRGs) underwriting gains and losses were collectively profitable through Q1 2017, reporting an aggregate underwriting gain of nearly $3.1 million, according to a report from Demotech’s Douglas Powell
Former cyber FBI head confirmed as keynote at Guernsey event
30 June 2017 | St Peter Port | Reporter: Becky Butcher
Attendees of this year’s Guernsey Insurance Forum are set to gain an insight into the cyber-risk world as James Trainor, ex-FBI cyber head, has been named as keynote speaker
China Shipping Energy Transportation enters into insurance agreement
29 June 2017 | Shanghai | Reporter: Becky Butcher
Cosco Shipping Energy Transportation, the energy-shipping unit of China Cosco Shipping Corporation, has entered into an insurance services framework agreement with Cosco Shipping Insurance
DARAG names Stuart Davies as new board chair
29 June 2017 | Malta | Reporter: Becky Butcher
DARAG, a European run-off insurance company, has appointed Stuart Davies as chair of the group, with immediate effect
AF Group snaps up Eric Halter
28 June 2017 | Lansing, Michigan | Reporter: Becky Butcher
Accident Fund Group has appointed Eric Halter as director of AF Specialty, a new brand focused on providing front capacity to insurance carriers, managing reinsurance intermediaries and captive managers
UK to implement ILS regime this autumn
27 June 2017 | London | Reporter: Becky Butcher
London’s insurance-linked securities regulation is now being finalised by the UK Government ready for implementation this autumn, according to a letter sent from HM Treasury to the London Market Group’s Nicolas Aubert
Arch Reinsurance Company recruits François Dagneau to lead in Canada
26 June 2017 | Toronto | Reporter: Mark Dugdale
Arch Reinsurance Company has hired Aon Benfield's François Dagneau as its new Canadian operations CEO
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...