Captive report from Chubb and Clyde & Co highlights emerging global challenges

Captive report from Chubb and Clyde & Co highlights emerging global challenges

Captive report from Chubb and Clyde & Co highlights emerging global challenges

Captives continue to be a highly effective and versatile alternative and/or complement to traditional risk transfer options, covering a much wider range of exposures than ever before, including environmental risk, cyber exposures, reputation and employee benefits. This is according to a new report, Emerging Global Challenges for Captives, produced by Chubb Europe and Clyde & Co. The report also notes…

Strong balance sheets for AM Best-rated European captives

Strong balance sheets for AM Best-rated European captives

Strong balance sheets for AM Best-rated European captives

European captives rated by AM Best have the highest levels of balance sheet strength assessment and their ratings have been stable through the past year, with most of the ratings affirmed and their stable outlooks maintained. According to a new report by Best, European Captives – Building Block Rating Considerations: “All of the European captives rated by Best have balance…

New chairman of Labuan Financial Services Authority

New chairman of Labuan Financial Services Authority

New chairman of Labuan Financial Services Authority

The Labuan Financial Services Authority has a new chairman, with the appointment of Datuk Oh Chong Peng. The appointment, which began on 16 October 2018 and runs until 15 February 2020, has been approved by the minister of finance. The Labuan Financial Services Authority said that Mr Datuk Oh has wide experience in financial and other business sectors. He is…

AGCS restructures alternative risk transfer business

AGCS restructures alternative risk transfer business

AGCS restructures alternative risk transfer business

Allianz Global Corporate & Specialty (AGCS) is to separate its insurance-linked markets team from the rest of its alternative risk transfer (ART) business. It said there is increasing demand from both investors and insurers for products that bring together the insurance and capital markets, and the move is in line with the growing importance of non-traditional insurance solutions for global businesses.…

Julie Boucher to take on new islands role at Marsh captive solutions

Julie Boucher to take on new islands role at Marsh captive solutions

Julie Boucher to take on new islands role at Marsh captive solutions

Marsh has announced two senior leadership appointments within Marsh captive solutions with effect from 1 January 2019. Julie Boucher will assume direct leadership of Marsh’s Bermuda, Cayman and Barbados captive offices, in the newly created role of islands practice leader. Ms Boucher is currently the Americas practice leader and will relocate to Bermuda from Vermont. She has 30 years’ captive…

Guernsey continues to grow captive and ILS business in China

Guernsey continues to grow captive and ILS business in China

Guernsey continues to grow captive and ILS business in China

Guernsey Finance has been stepping up its activities in China, with events in Shanghai and Hong Kong focusing on its captive expertise as well as insurance-linked securities (ILS). Guernsey Finance said it is making steady progress in securing captive business and raising awareness of the domicile’s insurance solutions. At the Shanghai event, industry professionals were told that the breadth of…

Call for greater clarity on captives in OECD’s BEPS paper

Call for greater clarity on captives in OECD’s BEPS paper

Call for greater clarity on captives in OECD’s BEPS paper

Insurance Europe has called for greater clarity in the Organisation for Economic Co-operation and Development’s (OECD) paper on its Base Erosion and Profit Shifting (BEPS) initiative, to ensure that the guidance is correctly applied. In particular, Insurance Europe says the paper should differentiate more clearly between captive insurance transactions and other forms of (re)insurance, and between non-insurance multinational groups and…

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