Frustrating Brexit deadlock highlights importance of risk management, says Ferma

Frustrating Brexit deadlock highlights importance of risk management, says Ferma

Frustrating Brexit deadlock highlights importance of risk management, says Ferma

The ongoing uncertainty surrounding Brexit highlights the importance of professional risk management to prepare organisations and ensure business continuity, Ferma said this week after voicing “frustration” at the current deadlock in UK parliament. Following discussions with corporate risk managers, the federation said most risk management plans are working on the assumption of a no-deal Brexit and detailed a range of…

Aon’s White Rock protected cell facility launches in District of Columbia

Aon’s White Rock protected cell facility launches in District of Columbia

Aon’s White Rock protected cell facility launches in District of Columbia

Aon has launched its protected cell facility in the District of Columbia in the US. The latest expansion of Aon’s White Rock Group means the facility is now established in seven domiciles around the world. According to Aon: “White Rock is a unique and leading group of insurance and reinsurance vehicles with operations in a number of key domiciles including…

Aon report shows captives are key for energy companies’ risk management strategies

Aon report shows captives are key for energy companies’ risk management strategies

Aon report shows captives are key for energy companies’ risk management strategies

Captives continue to be a key part of energy companies’ risk management strategies, according to Aon, with an increasing number of smaller energy companies turning to a captive. In a new report, Supporting The Energy Industry Through Captive Insurance Programs, Aon says it manages about 65 energy captives with gross written premium reaching more than $1.7bn. Aon notes in its…

Cayman Islands reports captive growth for 2018

Cayman Islands reports captive growth for 2018

Cayman Islands reports captive growth for 2018

The Cayman Islands licensed 33 new captives in 2018, to bring the total number of captives in the domicile to 703 at 31 December 2018, according to the latest statistics from the Cayman Islands Monetary Authority (CIMA). The year also saw 26 captive licences cancelled. Pure captives and group captives represented the two main categories, with 312 and 120 companies…

New guidance on risk pools from Captive Insurance Companies Association

New guidance on risk pools from Captive Insurance Companies Association

New guidance on risk pools from Captive Insurance Companies Association

The Captive Insurance Companies Association (CICA) has produced a guide designed to address misperceptions about risk pools and highlight some commonly accepted practices. “CICA has always been a leader in championing the use of best practices for operating captive insurance companies, and we’re pleased to expand our best practice resources with this new guidance document,” said CICA president Dan Towle.…

Delaware licenses 46 new captives in 2018

Delaware licenses 46 new captives in 2018

Delaware licenses 46 new captives in 2018

Delaware has reported a good year as a captive domicile, with the formation of 46 captive insurers in the domicile in 2018, according to insurance commissioner Trinidad Navarro. Delaware is the fifth largest captive domicile in the world, and third largest in the US. Its captive insurers generate more than $12.5bn of annual captive insurance premium. “Captive insurance formations faced…

Captive appointment by Willis Towers Watson Management (Bermuda)

Captive appointment by Willis Towers Watson Management (Bermuda)

Captive appointment by Willis Towers Watson Management (Bermuda)

Willis Towers Watson Management (Bermuda) has appointed Steve Arrowsmith as executive vice-president and head of client services, according to Bermuda’s Royal Gazette. Paul Bailie, head of Willis Towers Watson’s Bermuda captive practice, said: “Steve brings a wealth of experience that will enable us to further enhance our client service offerings and drive innovative risk finance solutions to help clients meet…

Zurich North America appoints new head of group captives

Zurich North America appoints new head of group captives

Zurich North America appoints new head of group captives

Zurich has appointed Jason Meador as head of group captives in alternative markets for Zurich North America, effective 1 January 2019. He will be responsible for the operational management of Zurich’s group captives business, including member-owned, agency and fronted captives, and ensuring strong relationships with captive consultants and captives boards. He will continue to report directly to David Putz, head…

Vermont to explore blockchain technology for captive recordkeeping

Vermont to explore blockchain technology for captive recordkeeping

Vermont to explore blockchain technology for captive recordkeeping

Vermont is to explore emerging blockchain technology and its use in the digital recordkeeping practices of the captive insurance industry. Secretary of State Jim Condos and Department of Financial Regulation commissioner Michael Pieciak recently signed a memorandum of understanding outlining their collaborative efforts to explore blockchain technology. The Secretary of State’s Office and the Department of Financial Regulation jointly issued…

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