Growing demand for multinational insurance despite headwinds

Growing demand for multinational insurance despite headwinds

Growing demand for multinational insurance despite headwinds

Demand for multinational insurance programmes continues to rise despite mounting anti-globalisation sentiment and protectionism, with captives, mid-sized companies and firms from emerging markets driving growth. Some companies in mature markets have scaled back programmes as they reduce their global footprint, but are generally looking at covering a wider range of risks in international programmes. According to brokers and insurers, demand…

Anne Marie Towle to head up Hylant’s captive business

Anne Marie Towle to head up Hylant’s captive business

Anne Marie Towle to head up Hylant’s captive business

Anne Marie Towle has joined US broker Hylant to head up its global captive solutions business. She was previously executive vice-president at JLT insurance management, where she led the captive practice. She joins Hylant as senior vice-president. Hylant said that in her new role, Ms Towle will continue the growth of Hylant’s global captive solutions business, adding that “her leadership…

CICA taskforce to help women advance in captive industry

CICA taskforce to help women advance in captive industry

CICA taskforce to help women advance in captive industry

The Captive Insurance Companies Association (CICA) has launched a new initiative to support women in the captive industry and close the gender gap at senior levels. The new initiative, Amplify Women, comprises a new taskforce focused on connecting women with opportunities for education, networking and influence in the captive insurance industry. “Creating a group to help women advance their captive…

New US construction group captive programme from Artex

New US construction group captive programme from Artex

New US construction group captive programme from Artex

Alternative risk management solutions firm Artex has launched a new group captive programme, which has been designed specifically for construction companies within the US. According to Artex, Construction Risk Containment Insurance Company (CRCIC) provides an alternative risk transfer solution for construction companies that are typically viewed as higher hazard in the industry. CRCIC is domiciled in Grand Cayman and offers…

HSBC Bank (UK) Pension Scheme in £7bn longevity swap

HSBC Bank (UK) Pension Scheme in £7bn longevity swap

HSBC Bank (UK) Pension Scheme in £7bn longevity swap

A longevity swap has been announced involving the HSBC Bank (UK) Pension Scheme and Prudential Insurance Company of America (PICA). According to Aon, which advised HSBC in Bermuda on the deal, the £7bn longevity swap is the second-largest-ever deal of its type. The deal uses a captive solution with a HSBC-owned insurer in Bermuda, with PICA then reinsuring the transaction,…

Awareness and demand for compliance driving captive growth in Labuan

Awareness and demand for compliance driving captive growth in Labuan

Awareness and demand for compliance driving captive growth in Labuan

Growing awareness of the benefits of captives among Asian companies, combined with greater scrutiny of how corporations manage their taxation policies, are helping drive strong growth in the captive sector in Labuan, according to Danial Mah, director general, Labuan Financial Services Association (Labuan FSA). Mr Mah revealed first-half 2019 captive numbers that showed a healthy upwards momentum during the recent…

Parima teams up with MAXIS GBN in Beijing for focus on employee benefits

Parima teams up with MAXIS GBN in Beijing for focus on employee benefits

Parima teams up with MAXIS GBN in Beijing for focus on employee benefits

The Pan-Asia Risk & Insurance Management Association (Parima) is this week supporting an event focused on employee benefits for risk managers in Beijing, organised by MAXIS Global Benefits Network (Maxis GBN) and its local partner ICBC AXA. Risk and insurance managers in Europe and North America are becoming increasingly involved in the management and transfer of employee benefits, as multinationals…

Capturing the abstract: How captives can be used to manage intangible risks

Capturing the abstract: How captives can be used to manage intangible risks

Capturing the abstract: How captives can be used to manage intangible risks

The most valuable assets a company owns often are no longer physical. Indeed, several studies indicate that the intangible assets of the world’s 500 largest companies make up roughly 85% of their value. Intangible assets can include a company’s brand, intellectual property and datasets. Risks to those assets can be hard to quantify, manage and transfer. Marine Charbonnier, global programmes…

Rated US captives build on strengths, says AM Best

Rated US captives build on strengths, says AM Best

Rated US captives build on strengths, says AM Best

US captive insurance companies rated by AM Best continued their positive underwriting results in 2018, with a net underwriting profit of $160m and a post-dividend combined ratio of 96.0% in 2018. The Best-rated captive composite reported a pre-tax profit of approximately $1.1bn (down 16% from the $1.3bn reported in 2017). Net premiums written increased in 2018 by 4.4%, reversing the…

New head of Marsh’s captive operation in Guernsey

New head of Marsh’s captive operation in Guernsey

New head of Marsh’s captive operation in Guernsey

Marsh has appointed a new head of its captive operation in Guernsey. Ian Drillot has joined Marsh as head of office, Marsh Captive Solutions, Guernsey. He was previously head of JLT’s Guernsey captive office, a position he held since 2014. He succeeds Stephen Hawkes, who is returning to the UK to take up a new role developing Marsh’s international captive…

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