Isle of Man ramps up captive offering with digital marketing campaign

Isle of Man ramps up captive offering with digital marketing campaign

Isle of Man ramps up captive offering with digital marketing campaign

In a sure sign that the captive insurance sector is seeing considerable interest as the hard market bites, the Isle of Man has launched a digital marketing campaign to promote its captive insurance offering. The Isle of Man is home to well over 100 captive insurance companies, but the domicile has seen limited growth in captive formations in recent years.…

New Guernsey captive management facility from Davies

New Guernsey captive management facility from Davies

New Guernsey captive management facility from Davies

Davies has launched a new captive management facility in Guernsey, following regulatory approval from the Guernsey Financial Services Commission. According to Davies, the new captive facility, Davies Management Services (Guernsey), will deliver a full captive management capability including feasibility studies, incorporation services, programme structure advice and exit solutions. Davies said the Guernsey operation will broaden its established captive management operations…

Tennessee latest US domicile to report captive growth in 2020

Tennessee latest US domicile to report captive growth in 2020

Tennessee latest US domicile to report captive growth in 2020

Tennessee is the latest US captive domicile to report solid growth in 2020. It saw a 64% increase in captives compared to 2019, with 18 newly licensed captives and 41 new cells. Tennessee now has 720 risk-bearing entities, comprising 212 captives and 508 cells. According to the Tennessee Captive Insurance Association (TCIA), there was increased interest in captives for property…

Editor’s comment: French government leads the way on self-insurance strategy

Editor’s comment: French government leads the way on self-insurance strategy

Editor’s comment: French government leads the way on self-insurance strategy

Only the most naive of European risk managers would have expected an easy and calm renewal at year-end 2020, but many can be forgiven for being surprised by the brutality of it. As clearly shown by the excellent discussion organised by French risk management association AMRAE on a virtual basis last week, risk and insurance managers are facing a very…

French risk managers turn to self-insurance as market hardens

French risk managers turn to self-insurance as market hardens

French risk managers turn to self-insurance as market hardens

It is good news for French risk and insurance managers that their representative association AMRAE is in discussion with insurers, brokers and importantly the French government about how rules can be changed and fiscal incentives introduced to promote the wider use of self-insurance tools such as captives, to better manage catastrophic risks such as the current pandemic. But, as these…

Risk appetite and investment must adapt to the new normal: Bouquot

Risk appetite and investment must adapt to the new normal: Bouquot

Risk appetite and investment must adapt to the new normal: Bouquot

Risk financing models need to be reviewed in the wake of the pandemic-driven economic crisis, believes Brigitte Bouquot, a vice-president of France’s risk management association and former president. She also praised plans announced by the French government to provide incentives for companies to retain more risks by building up reserves via instruments such as captives. In a session during the…

Strategic Risk Solutions to establish Guernsey operation

Strategic Risk Solutions to establish Guernsey operation

Strategic Risk Solutions to establish Guernsey operation

Strategic Risk Solutions (SRS) is to launch an operation in Guernsey, headed by veteran captive manager Peter Child. The move comes just weeks after SRS announced the launch of an operation in Switzerland. Mr Child has been appointed to the position of managing director, SRS Guernsey Management, and will be responsible for the development and oversight of SRS’s business in…

French Treasury says captive plans will be tabled soon

French Treasury says captive plans will be tabled soon

French Treasury says captive plans will be tabled soon

A senior executive within the French Treasury department has confirmed that its plans to help make it more attractive for smaller companies to set aside reserves for business interruption (BI) losses and for bigger companies to use captives are on track. Lionel Corre, director of insurance at the French Treasury, told French risk managers during Amrae’s virtual conference that the…

Two thirds of Airmic members fear additional insurance costs from Brexit

Two thirds of Airmic members fear additional insurance costs from Brexit

Two thirds of Airmic members fear additional insurance costs from Brexit

Just under two thirds (63.5%) of Airmic members are concerned that there will be additional insurance costs following the EU-UK post-Brexit deal agreed in December. The association’s latest Pulse Survey, carried out among its members in January, finds that UK insurance buyers are worried they will have to fork out for issuing additional local polices and fronting costs. A number…

Moody’s affirms financial strength rating of China Railway Captive Insurance

Moody’s affirms financial strength rating of China Railway Captive Insurance

Moody’s affirms financial strength rating of China Railway Captive Insurance

Moody’s Investors Service has affirmed China Railway Captive Insurance Co’s A3 insurance financial strength rating, and the outlook remains stable. It is a wholly owned captive insurance subsidiary of the state-owned China State Railway Group (CSRG). According to Moody’s, the captive underwrites both internal group risks and third-party risks, mainly for railway-related companies. Its rating reflects the insurer’s strong capitalisation…