Legislation in South Carolina that will update protected cell law and allow captive insurance companies to become dormant has passed the House of Representatives 87-0, and is now in the hands of the Senate Banking and Insurance Committee...
A.M. Best has affirmed the financial strength rating of “A (Excellent)” and issuer credit rating of “a” of Spirit Insurance Company, based in Vermont...
AXIS Re has appointed Ben Rubin as executive vice president of capital markets, effective 8 July. Rubin will be based in Bermuda a report to Jay Nichols, CEO of AXIS Re...
A.M. Best has revised the outlook to stable from negative and affirmed the financial strength rating of “A- (Excellent)” and issuer credit rating of “a-” of KnighBrook Insurance Company...
A.M. Best has assigned the financial strength rating of “B++ (Good)” and an issuer credit rating of “bbb+” to Philmont Insurance Company. The outlook assigned to both ratings is stable...
Texas governor Rick Perry signed SB 734 into law on 3 June allowing the formation of pure captive insurance companies in the state...
Vanliner Insurance Company has formed Move-CAP, a new captive insurance programme for best-in-class moving and storage companies...
Guy Carpenter & Company’s June renewal briefing has reported that the reinsurance sector has seen “dynamic capital growth” in 2012 and 2013, spurred by an influx of capital from alternative sources...
According to Fitch Ratings, increased regulatory scrutiny and the need for collateral to support statutory reserve credit is driving US life insurers to make changes in their captive reinsurance arrangements...
A number of large UK cedants are reducing their spending on facultative reinsurance, according to Vanessa Macdonald-Smith, team leader at Faber Global...
Marsh and CS STARS, Marsh’s risk and claims management business unit, has added the NAT CAT Risk Map to the NAT CAT Pack to help clients manage their natural catastrophe risks and gain more control in their insurance renewal negotiations...
A.M. Best has awarded the financial strength rating of “A (Excellent)” and issuer credit rating of “a+” to Heddington Insurance Limited and Iron Horse Insurance Company. The outlook for all ratings is stable...