Captives increasingly writing cyber liability, employee benefits and terrorism, says Marsh Report

Captives increasingly writing cyber liability, employee benefits and terrorism, says Marsh Report

Captives increasingly writing cyber liability, employee benefits and terrorism, says Marsh Report

Captive insurance vehicles are rapidly growing in popularity as risk managers seek alternative ways to finance emerging risks their organisations now face, according to Marsh. The broker’s 2018 Captive Landscape Report: 50 Years of Risk Financing Innovation, highlights considerable growth in the last five years in captives writing cyber liability, employee benefits and terrorism coverage. It also points out that…

Tax concession heralds new push for Hong Kong captives

Tax concession heralds new push for Hong Kong captives

Tax concession heralds new push for Hong Kong captives

Hong Kong is bringing in tax concessions to further develop the territory as a captive domicile. Speaking at the annual reception of the Hong Kong Federation of Insurers, the secretary for financial services and the treasury, James Lau, said that with the Belt and Road Initiative, Hong Kong has the potential to emerge as a major risk management centre for…

Parima adds new board members

Parima adds new board members

Parima adds new board members

The Pan-Asia Risk and Insurance Management Association (Parima) has added three new members to its board committee, in a sign of its growing presence in the region. Rehanna Box, Satoshi Hoshi and Takehisa Banno joined the board on 8 March, bringing the total number of members to 26. Ms Box, insurance advisory partner at the Sydney office of international law…

Captives coming of age in Asia

Captives coming of age in Asia

Captives coming of age in Asia

The use of captives as a strategic risk management tool is under development in Asia. The penetration of captives on the continent is still relatively low compared with regions such as the US and Europe, where captives have been a fixture of clients’ risk management strategies for many years. But Asia-based clients, and companies with exposures in Asia, increasingly are…

Artex launches subsidiary in Singapore

Artex launches subsidiary in Singapore

Artex launches subsidiary in Singapore

Alternative risk management solutions provider Artex has launched a subsidiary in Singapore, Artex Risk Solutions (Singapore). This is Artex’s first office in the region and it will oversee the growth and development of Artex’s Asia-Pacific captive and risk solutions strategy. The new Singapore office will be headed up by Vic Pannuzzo, who has been hired as chief executive for Artex…

New CEO for Labuan’s promotion and marketing agency

New CEO for Labuan’s promotion and marketing agency

New CEO for Labuan’s promotion and marketing agency

Farah Jaafar-Crossby has been appointed as the new chief executive officer of Labuan International Business and Financial Centre Incorporated Sdn Bhd (Labuan IBFC Inc). This is the official promotion and marketing agency for Labuan International Business and Financial Centre in Malaysia. Ms Jaafar-Crossby previously headed the marketing intelligence and strategic communications unit at Labuan IBFC Inc. She took up her…

Captives harder to justify but future remains bright, finds CRE survey

Captives harder to justify but future remains bright, finds CRE survey

Captives harder to justify but future remains bright, finds CRE survey

Half of respondents to a new survey by Commercial Risk Europe said it is getting harder to justify the use of captives, but this has not stopped owners using the vehicles to help manage a growing range of risks and those polled remain optimist about the future of the market. More than half a century after the term ‘captive insurance…

ARM in joint venture with Chinese captive consulting group

ARM in joint venture with Chinese captive consulting group

ARM in joint venture with Chinese captive consulting group

Alternative Risk Management (ARM) has established a joint venture with Beijing Airport Captive Management Consulting (BACM) to work together in the creation of captive structures and the provision of captive management services for Chinese businesses. This is the latest in a number of recent agreements between Guernsey and the Chinese insurance industry, and in particular the burgeoning captive sector. BACM…

China’s captive market gathers steam with Yudean approval

China’s captive market gathers steam with Yudean approval

China’s captive market gathers steam with Yudean approval

The long-awaited emergence of a healthy captive insurance market in China and the wider Asian region could finally be picking up a head of steam. There are options for Chinese companies to base their captives ‘onshore’ following recent rule changes in China. But Hong Kong is keen to make sure that it is the domicile of first choice for major…

Bank governor says Labuan must upgrade tax regime and spread wealth to ensure survival

Bank governor says Labuan must upgrade tax regime and spread wealth to ensure survival

Bank governor says Labuan must upgrade tax regime and spread wealth to ensure survival

Labuan International Business and Finance Centre (IBFC) needs to ensure that the local community benefits from its economic activity, become a more diversified and sustainable economy, and enhance tax incentives so that they are on a par with international best practices. These are the three major challenges facing the IBFC, according to Muhammad bin Ibrahim, governor of Bank Negara Malaysia,…

1 2 3 5