Lloyd’s eyes captive platform idea

Lloyd’s eyes captive platform idea

Lloyd’s eyes captive platform idea

Lloyd’s has confirmed that it is looking into the potential for hosting captive insurance companies in the market again. A Lloyd’s spokesperson said: “Lloyd’s has had the ability to host captive syndicates since 1998. Recent changes to the regulatory environment and the Future at Lloyd’s strategy have stimulated a review of this capability.” SmithKline Beecham established the first, and only,…

French government plans to make France a more attractive jurisdiction for captives

French government plans to make France a more attractive jurisdiction for captives

French government plans to make France a more attractive jurisdiction for captives

The French government plans to make the country a more attractive jurisdiction for captives, as risk managers turn to alternative risk transfer vehicles to mitigate the effects of the hardening insurance market. The announcement was made on the final day of the AMRAE conference. It comes at a time when a growing number of companies are expected to boost alternative…

New strategic planning service for captives from Strategic Risk Solutions

New strategic planning service for captives from Strategic Risk Solutions

New strategic planning service for captives from Strategic Risk Solutions

Captive management firm Strategic Risk Solutions (SRS) has launched a strategic planning and execution service available to any captive. According to SRS, the new offering, Captive 360°, is “a comprehensive, holistic review of all aspects of a captive’s operations, not just what additional coverages a captive can write or other risks faced by its insureds”. “We have launched this new…

Incorporated segregated accounts companies launched in Bermuda

Incorporated segregated accounts companies launched in Bermuda

Incorporated segregated accounts companies launched in Bermuda

Bermuda has introduced its latest company structure, the incorporated segregated accounts company, which the domicile said offers greater flexibilities and efficiencies. Bermuda’s Incorporated Segregated Accounts Companies Act 2019 (ISAC Act) – a standalone piece of legislation and a companion statute to the Segregated Accounts Companies Act 2000 – came into effect on 15 January 2020. According to the Bermuda Business…

Ferma and ECIROA flesh out proposals to boost proportionality for captives under SII

Ferma and ECIROA flesh out proposals to boost proportionality for captives under SII

Ferma and ECIROA flesh out proposals to boost proportionality for captives under SII

The European Insurance and Occupational Pensions Authority (EIOPA) must use this year’s Solvency II review to recognise that national supervisors have so far failed to apply the principle of proportionality (PoP) to captives and force the issue by issuing clear guidelines, according to risk management federation Ferma and ECIROA, the captive owners body. Ferma’s approach provides a framework for national…

Insurers join Europe’s risk managers in calling for stronger application of proportionality in SII

Insurers join Europe’s risk managers in calling for stronger application of proportionality in SII

Insurers join Europe’s risk managers in calling for stronger application of proportionality in SII

Insurance Europe, the body that represents the European listed insurance sector, and AMICE, the association of European mutual and cooperative insurers, have joined Ferma in calling for more robust and consistent application of the proportionality principle via the review of Solvency II being carried out by the European Insurance and Occupational Pensions Supervisory Authority (EIOPA). The deadline for consultation on…

AMRAE president criticises insurers for ‘arbitrarily’ reducing capacity as shortfalls emerge

AMRAE president criticises insurers for ‘arbitrarily’ reducing capacity as shortfalls emerge

AMRAE president criticises insurers for ‘arbitrarily’ reducing capacity as shortfalls emerge

The president of French risk management association AMRAE, Brigitte Bouquot, has criticised insurers for “arbitrarily” reducing capacity for clients at recent renewals and warned that buyers now face situations where certain risks cannot be covered. Ms Bouquot is concerned by moves from insurers to reduce capacity without taking into account factors like the quality of risk management, or factoring in…

Peter Child appointed as head of Artex European Operations

Peter Child appointed as head of Artex European Operations

Peter Child appointed as head of Artex European Operations

Artex Risk Solutions has appointed Peter Child as head of Artex European Operations. In this role he will oversee its Guernsey, Malta, Gibraltar and London offices. Mr Child will continue with his role of managing director of the Guernsey office and continue reporting to Nick Heys, CEO of Artex International. “Peter has been an integral part of our management team…

Guernsey Finance CEO to leave post in 2020

Guernsey Finance CEO to leave post in 2020

Guernsey Finance CEO to leave post in 2020

The head of Guernsey Finance is to leave the role in June 2020 after more than five years of service, with the promotional agency looking to begin the recruitment of a successor in January 2020. Guernsey Finance chief executive Dominic Wheatley is to leave the agency on 30 June 2020, having been in the role since December 2014. “For the…

Captives: providing certainty in an uncertain world

Captives: providing certainty in an uncertain world

Captives: providing certainty in an uncertain world

Captives are set to play an expanding and central role in the global insurance programmes of multinationals and increasingly for middle-market companies, as companies seek certainty in an uncertain world. This is according to Commercial Risk Europe’s newly released Captive Survey 2019 – Captives: Providing certainty in an uncertain world. The uncertainty stems from rising nationalism and protectionism, looming trade…

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