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…

Continued captive growth in Vermont in 2018

Continued captive growth in Vermont in 2018

Continued captive growth in Vermont in 2018

Vermont has continued to see captive growth, licensing 25 new captive insurance companies in 2018, according to its Department of Financial Regulation. The new licences were made up of 12 pure captives, four risk retention groups, three sponsored captives, two industrial insured captives, two special purpose financial insurers, one branch captive and one affiliated reinsurance company (ARC). The department said…

Bermuda Monetary Authority releases report on islands’ captive market

Bermuda Monetary Authority releases report on islands’ captive market

Bermuda Monetary Authority releases report on islands’ captive market

A report on Bermuda’s captive market by the Bermuda Monetary Authority (BMA) has revealed that two thirds of captives originate from North America, and two thirds are ‘pure’ captives. Financial institutions continue to be the most significant industry of parent companies (16%), followed by shipping, transport and storage (12%), automotive, manufacturing and retail (11%), and healthcare (10%). The second annual…

Risk managers taking centre stage with employee benefits

Risk managers taking centre stage with employee benefits

Risk managers taking centre stage with employee benefits

The world of employee benefits is becoming both increasingly important and complex in the global economy, and risk managers find themselves more and more involved. To investigate these potentially significant opportunities and challenges, Commercial Risk Europe teamed up with MAXIS GBN, the global employee benefits network backed by two of the world’s largest insurance providers – MetLife and AXA, to…

US class action accuses companies of ‘massive’ conspiracy over captives targeted at individuals

US class action accuses companies of ‘massive’ conspiracy over captives targeted at individuals

US class action accuses companies of ‘massive’ conspiracy over captives targeted at individuals

A federal class action lawsuit in the US is alleging a “massive captive insurance strategy conspiracy” for those mainly targeted at individuals, and is seeking damages from captive consultants that “conspired to design, promote, sell, implement and manage illegal tax-advantaged captive insurance strategies”. The defendants in the lawsuit, which is based in Arizona, include Artex Risk Solutions, Arthur J Gallagher,…

Expect the unexpected: what will 2019 hold for risk managers with international programmes?

Expect the unexpected: what will 2019 hold for risk managers with international programmes?

Expect the unexpected: what will 2019 hold for risk managers with international programmes?

As we look ahead to 2019, Owen Williams, head of the captive centre of excellence at XL Catlin, now part of AXA XL, a division of AXA Group, considers what risk managers can expect for their international insurance programmes and captive insurance vehicles. What are the trends in the insurance market that might affect risk managers with international programmes in…

Barbados announces tax changes affecting captive insurers

Barbados announces tax changes affecting captive insurers

Barbados announces tax changes affecting captive insurers

Barbados has revealed a number of legislative measures, partly in response to the Organisation for Economic Co-operation and Development’s (OECD) inclusive framework on base erosion and profit shifting (BEPS), including tax changes affecting captives. This will mean captives in the domicile are to be zero taxed, and pay a licence fee. The Government of Barbados announced the measures as part…

Marsh sets up captive management operation in Abu Dhabi

Marsh sets up captive management operation in Abu Dhabi

Marsh sets up captive management operation in Abu Dhabi

Marsh has been awarded the first licence to provide captive insurance management services in Abu Dhabi. Marsh Management Services (MENA) Limited has been authorised to provide captive insurance management services by Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA). Marsh Management Services Limited is the first company to be authorised as a captive insurance manager by the FSRA.…

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