Bermuda Monetary Authority report highlights captive sector’s strength

Bermuda Monetary Authority report highlights captive sector’s strength

Bermuda Monetary Authority report highlights captive sector’s strength

A new report from the Bermuda Monetary Authority (BMA) notes that the island’s captive sector appears to be resilient and continued growth is expected, with both longstanding exposures and emerging risks being underwritten. The BMA Captive Report 2019 states that the authority’s review of 2018 data demonstrates the continued strength of the Bermuda captive market through its ability to pay…

Interest in captives and loss prevention jumps among European risk managers as market hardens

Interest in captives and loss prevention jumps among European risk managers as market hardens

Interest in captives and loss prevention jumps among European risk managers as market hardens

European risk managers are turning to captives and loss prevention as the insurance market hardens, finds Ferma’s 2020 survey. The federation’s 2020 Risk Management Survey reveals that 90% of insurance risk managers polled are concerned about limitations and exclusions of specific emerging risks as the insurance market hardens, and 88% are concerned about tougher conditions generally. Meanwhile, 68% are worried…

Willis Towers Watson explores options for D&O and captives

Willis Towers Watson explores options for D&O and captives

Willis Towers Watson explores options for D&O and captives

Captives can provide viable solutions to the challenging directors and officers (D&O) liability insurance market but only for well-funded stable captives given the potential for significant loss volatility. This is according to Willis Towers Watson (WTW), which also suggests that the captive solution is only really suitable for Side B and Side C covers. In an article on captives and…

Artex launches rent-a-captive solution for transportation industry

Artex launches rent-a-captive solution for transportation industry

Artex launches rent-a-captive solution for transportation industry

A new alternative risk programme has been launched by Artex, designed specifically for the transportation industry. The programme is a rent-a-captive solution called TOPIC (Transportation Owners Protection Insurance Cell). According to Artex, TOPIC is a rent-a-captive solution offering many of the advantages of captive ownership with the simplicity of renting. It said advantages include potential return of underwriting profit, as…

SRS looks for Latin American expansion with new appointment

SRS looks for Latin American expansion with new appointment

SRS looks for Latin American expansion with new appointment

Captive manager Strategic Risk Solutions (SRS) is to boost its presence in Latin America with the appointment of Luis Delgado as vice-president – Latin America. He will have responsibility for developing and managing business for Latin American-owned captives across the firm. Mr Delgado is a native Colombian and will be based in SRS’s Bermuda office. He joins SRS from JLT…

New Vermont-based group captive for upper mid-market firms launched by WTW

New Vermont-based group captive for upper mid-market firms launched by WTW

New Vermont-based group captive for upper mid-market firms launched by WTW

Willis Towers Watson (WTW) has launched a group captive solution designed for upper middle-market companies. Homestead Insurance Company Incorporated Cell will reinsure The Hartford, which will issue admitted insurance policies to members selected for the group programme. Homestead will be domiciled in Vermont. According to WTW: “The programme will provide companies with a better and more cost-efficient way to purchase…

Prime conditions for captives as market hardens, Guernsey webinar hears

Prime conditions for captives as market hardens, Guernsey webinar hears

Prime conditions for captives as market hardens, Guernsey webinar hears

Captives are becoming a necessity and returning to their core benefits as a result of the pandemic, and captive owners will be in a stronger position post-Covid-19, according to captive managers speaking during a Guernsey Finance captive briefing webinar. Ciaran Healy, director of client services – EMEA – at Aon Global Risk Consulting, said captives were becoming a necessity rather…

Labuan IBFC reports 2019 captive growth in premiums and licences

Labuan IBFC reports 2019 captive growth in premiums and licences

Labuan IBFC reports 2019 captive growth in premiums and licences

Labuan has reported that ten new entities were approved in 2019, comprising one general insurer, five captives, three brokers and one underwriting manager, while seven entities surrendered their licences. This is according to the Labuan International Business and Financial Centre’s (IBFC) Market Report 2019, which notes that 2020 marks the 30th anniversary of the establishment of the Labuan IBFC in…

Paul Owens to join Strategic Risk Solutions as independent director

Paul Owens to join Strategic Risk Solutions as independent director

Paul Owens to join Strategic Risk Solutions as independent director

Paul Owens is to join the board of directors of Strategic Risk Solutions (SRS). Mr Owens will serve as an independent director as well as a strategic adviser to SRS. According to SRS, he is a well-known figure in the global captive industry and was most recently CEO of Willis Towers Watson’s (WTW) global captive practice. Mr Owens has more…

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