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IRS offers settlement for micro captive insurance schemes

IRS will be mailing a time-limited settlement offer for certain taxpayers under audit who participated in ‘abusive’ micro-captive insurance transactions

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Crumbling foundations to receive next instalment of funding

Connecticut’s state Bond Commission will consider adding $20 million in bond allotment to the Crumbling Foundation Solution Indemnity Company

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Karl Huish, Jeremy Huish and Berri Walker leave Artex

Artex has revealed that Karl Huish, Jeremy Huish and Berri Walker have left the firm, effective 28 August

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SIIA reveals captive advocacy campaign plans

The working group is currently setting the groundwork and will begin in 2020 through congressional meetings, political involvement and meetings with regulators

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Restoration RRG sees rating increase

A.M. Best has upgraded the financial strength rating and the long-term issuer credit rating of Restoration Risk Retention Group

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Davies Group acquires claims adjusting provider

Frontier will form the independent adjusting branch of Davies' new US claims solutions business

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Georgia nonprofit hospitals face new transparency rules, includes captives

The new rules will mean nonprofit hospitals in Georgia that have ownership or interest in any joint venture, partnership, subsidiary, holding company or captive insurance company, and related financial information will be required to report data

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Walkers lawyers relocate to Hong Kong

Walkers are moving two of its Bermudian associates, Shannon Dyer and Ben Green to the firm's Hong Kong office in October

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Hanover Stone Partners hires duo

Hanover Stone Partners has appointed Laureen Coyne and Pam Davis as co-leaders of its new national public entity practice

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SOBC DARAG continues acquisition streak

SOBC DARAG has acquired New Mexico’s P&C insurance company

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Guernsey considers introduction of LLCs

Guernsey is proposing to adopt limited liability companies (LLC) to enhance the island’s competitive position in the US

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Non-life global legacy insurance market sees run-off reserves increase

Legacy portfolios sitting within life insurance companies will be the main source of legacy transactions in the next year, while others said Lloyd’s of London, captives and non-insurance corporates will also feature in legacy deals

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