The legislation, known as the EU's main piece of legislation in the insurance area, cites captives under its definition of ‘small and non-complex undertakings’.
The report also notes that rates continued to be relatively consistent, with most regions experiencing small decreases in the same period.
The event aims to bring together over 300 risk and insurance professionals from the Philippines and across Asia Pacific.
The company intends to merge with the acquired captive in due course, and reinsure the longer-tail portion of the portfolio with its core risk carrier in Germany, Darag Deutschland AG.
Based in Melbourne, Solution is a specialist insurance underwriter that focuses on financial lines insurance products.
Convergence aims to target the insurance of credit risk portfolios, addressing the growing needs for portfolio solutions among banks and global financial institutions.
The state is known as the largest captive domicile in the US, followed by Utah and North Carolina, holding 439 and 311 respectively.
