Cayman Islands’ captive market continues to grow in second quarter

Cayman Islands’ captive market continues to grow in second quarter

Cayman Islands’ captive market continues to grow in second quarter

The Cayman Islands issued 14 licences in the second quarter of 2018, including two portfolio insurance companies and a reinsurer. This brings the total number of insurance licensees under the supervision of the Insurance Supervision Division to 821 as at 30 June 2018. Of these, 97 relate to domestic insurance markets and 724 to international insurance markets. According to the…

Labuan sees 10% growth in captives in 2017

Labuan sees 10% growth in captives in 2017

Labuan sees 10% growth in captives in 2017

The Labuan International Business and Financial Centre (LIBFC) saw the number of captive licences issued increase to 43 in 2017 from 39 in the previous year. In total, there were 14 insurance and insurance-related new setups in LIBFC in 2017. However, the total number of insurance-related licences fell from 204 to 203. The number of reinsurance-licensed companies fell from 44…

FERMA secures buyer representation in EIOPA stakeholder group

FERMA secures buyer representation in EIOPA stakeholder group

FERMA secures buyer representation in EIOPA stakeholder group

The CEO of risk management federation FERMA, Typhaine Beaupérin, has been granted a term as a member of the European Insurance and Occupational Pensions Authority’s (EIOPA) Insurance and Reinsurance Stakeholder Group (IRSG), which feeds back on regulations, guidelines and recommendations. The two-and-a-half-year term affords the corporate insurance-buying community representation in the stakeholder group, which has a total of 30 members…

Companies failing to manage hotel safety for corporate travellers: report

Companies failing to manage hotel safety for corporate travellers: report

Companies failing to manage hotel safety for corporate travellers: report

Hotel security and safety is too often overlooked by companies that send their employees overseas for work, according to a new study and guide from International SOS and the Association of Corporate Travel Executives (ACTE). Corporate travel programmes and travel managers are ill prepared to assess safety challenges posed by the growing number of accommodation options and related policies, the…

Insurers lobby for European-wide drone legislation to better deliver for clients

Insurers lobby for European-wide drone legislation to better deliver for clients

Insurers lobby for European-wide drone legislation to better deliver for clients

The EU should close gaps between member states’ drone regulations that currently restrict insurers’ ability to deliver risk-transfer solutions, said the industry’s federation Insurance Europe. In response to the EC’s consultation on technical standards for drones, Insurance Europe calls for a common framework to license, certificate, authorise and classify drone use at EU level. The European federation said insurers’ interest…

UK insurance industry gender pay gap double national average, shows CII data

UK insurance industry gender pay gap double national average, shows CII data

UK insurance industry gender pay gap double national average, shows CII data

The UK insurance industry has a gender pay gap of 24%, which is double the average across all sectors, according to analysis of almost 200 insurers, intermediaries and service providers by the Chartered Insurance Institute (CII). UK companies with more than 250 employees were required to publish gender pay gap data in April this year. The national average median gender…

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