International Re launches mid-sized captive solution

International Re launches mid-sized captive solution

International Re launches mid-sized captive solution

A new solution for mid-sized captives has been launched by International Re (I–RE), the specialist captive insurance and reinsurance MGA. The Lloyd’s coverholder has established I–RE SA, which the company describes as a “revolutionary mid-sized captive insurance and reinsurance solution”. I-RE began trading at the start of 2019, currently underwriting 18 lines of business for insureds and their captives. The…

Solvency II review set to improve proportionality for captives: EIOPA

Solvency II review set to improve proportionality for captives: EIOPA

Solvency II review set to improve proportionality for captives: EIOPA

EIOPA’s 2020 Solvency II review will look to improve proportionality for captives and could, for the first time, see some companies excluded entirely from certain aspects of the regime under the principle, Ana Teresa Moutinho, the regulator’s head of supervisory processes department, told a Ferma webinar. A consultation on the review that will check whether captives are being treated proportionally under…

Parima joins Labuan captive meeting as Asia-Pacific growth continues

Parima joins Labuan captive meeting as Asia-Pacific growth continues

Parima joins Labuan captive meeting as Asia-Pacific growth continues

Steve Tunstall, general secretary of Parima, will represent the association at a conference on captives, organised by Labuan International and Business Financial Centre and Swiss Re Corporate Solutions, as evidence mounts of the increased interest in the self-insurance tools among Asian risk and insurance managers. Mr Tunstall, a founding member of the Parima leadership team, is set to take part…

Labuan sees captive growth in 2018

Labuan sees captive growth in 2018

Labuan sees captive growth in 2018

Labuan saw six new captives licensed in 2018, bringing the total number of captives in the domicile to 48. According to the Labuan International Business And Financial Centre (IBFC) Market Report 2018, 22 insurance and insurance-related entities were approved in 2018, comprising six captives, 13 brokers, two (re)insurers and one underwriting manager, bringing the total number of approved Labuan insurance…

Airmic captive group to focus on reinsurance and cyber as BEPS proves less of a concern

Airmic captive group to focus on reinsurance and cyber as BEPS proves less of a concern

Airmic captive group to focus on reinsurance and cyber as BEPS proves less of a concern

Reinsurance, cyber and employee benefits are the top three priorities for captive owners in the post-BEPS world, according to a poll of Airmic’s captive group. Recent years have seen captives come under increased scrutiny by regulators and tax authorities. This started with the implementation of capital and risk management requirements under Solvency II and more recently with the OECD’s base…

Airmic launches captive guide for iNEDs

Airmic launches captive guide for iNEDs

Airmic launches captive guide for iNEDs

A guide to help independent non-executive directors (iNEDs) appointed to the boards of captive insurance companies is now available from Airmic. Produced in partnership with Aon, the guide to captive governance is aimed at individuals currently serving as directors on captive boards, or considering an appointment in the future. A Practical Guide for Independent Non-Executive Directors on Captive Boards also…

Index identifies tax avoidance centres

Index identifies tax avoidance centres

Index identifies tax avoidance centres

Ten jurisdictions, many of which are important captive insurance company domiciles, are responsible for over half (52%) of the world’s corporate tax avoidance risks, according to the Corporate Tax Haven Index. The research, published by the Tax Justice Network, has identified the UK and a handful of OECD countries as the jurisdictions it says are most responsible for the breakdown…

Captives grow third-party business, says Marsh report

Captives grow third-party business, says Marsh report

Captives grow third-party business, says Marsh report

The number of captive insurance companies writing third-party business is growing fast, as digitalisation expands the ways that organisations can deliver insurance solutions, according to a new report. Technology advances, including mobile applications, are making it easier for organisations to offer insurance to their customers and suppliers, according to a new report from Marsh that is based on trends evident…

Asia-Pac captive domiciles to see growth, says Best

Asia-Pac captive domiciles to see growth, says Best

Asia-Pac captive domiciles to see growth, says Best

Captive domiciles in Asia-Pacific are set to benefit from growth in Asia’s economies, according to AM Best. The ratings agency said it expects to see significant growth of captive formations in Asia-Pacific domiciles such as Singapore, Labuan and Hong Kong, as economies grow and businesses seek new and more sophisticated ways of risk management and control. Best noted that to…

Study reveals South Carolina captive industry’s $56.8m annual economic impact

Study reveals South Carolina captive industry’s $56.8m annual economic impact

Study reveals South Carolina captive industry’s $56.8m annual economic impact

A study has revealed that the South Carolina captive insurance industry has an annual economic impact of $56.8m. The study was carried out by the Moore School of Business at the University of South Carolina, on behalf of the South Carolina Captive Insurance Association (SCCIA). The study focused on the economic impact of the captive insurance industry on South Carolina,…

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