Captives
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US rated captives continue to perform strongly, says Best
AM Best-rated US captives saw pre-tax profits increase by nearly 16% in 2016 to $1.6bn, with premiums increasing by 3.2%,…
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New head of Zurich North America’s captive unit
Zurich has appointed Todd Cunningham to head the single-parent and sponsored-cell captives unit for Zurich North America. Mr Cunningham will…
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North Carolina’s captive growth generates $23m for state in 2016
North Carolina’s captive insurance programme has seen considerable growth in the past year in terms of the economic impact on…
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Cayman adds 17 new captives in first half of 2017
The Cayman Islands added nine new insurer licences in the second quarter of 2017, according to statistics from the Cayman…
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Cayman appoints new deputy head of Insurance Supervision Division
The Cayman Islands Monetary Authority (CIMA) has appointed Suzanne Sadlier as deputy head of the insurance supervision division. Her previous…
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Compre gets approval to establish protected cell company in Malta
Legacy specialist Compre has received approval from the Maltese Financial Services Authority to establish an insurance company in Malta. Compre…
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Barbados sees captive growth and OECD Global Forum recognition
Barbados has been ranked as ‘largely compliant’ by the Organisation for Economic Co-operation and Development’s (OECD) Global Forum, putting it…
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Texas brings in improvements to its captive insurance law
Texas has enacted changes to the Texas Captive Insurance law through the passing of House Bill 1944. According to the…
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Rated captives show strong Solvency II ratios, says Best
Reported Solvency II ratios, the ratio of Solvency II available capital to the Solvency Capital Requirement (SCR), are very strong…
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Ferma publishes guidelines on captive (re)insurance and BEPS
Ferma has issued draft guidelines for captive (re)insurance arrangements in order to ensure a consistent implementation of the Organisation for…
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Munich Re establishes protected cell company in Malta
Munich Re Group is reported to have established a protected cell company (PCC) in Malta. According to a report in…
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EY appoints Bermuda captive leader
EY in Bermuda has appointed Umer Islam as the new leader of its captive insurance practice. He is Bermuda executive…
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Legacy specialist Compre acquires SNC-Lavalin captive
Independent insurance and reinsurance legacy specialist Compre is to acquire Equinox CA Europe, a captive insurance company of global engineering…
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New $125m cat bond for Metropolitan Transportation Authority
Swiss Re Capital Markets has placed a $125m cat bond on behalf of the First Mutual Transportation Assurance Company (FMTAC),…
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OECD countries sign BEPS Multilateral Convention
The Organisation for Economic Co-operation and Development (OECD) has moved closer to its goal of preventing base erosion and profit…
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Vermont’s new captive law aims to attract and retain captives – AM Best
Vermont’s updated captive law, which includes a provision that allows for the inclusion of agency captives as well as expanding…
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Marsh survey: captives at the core of risk management strategies
The use of captives is expanding as companies’ risk management strategies are becoming more sophisticated, tackling a range of new…
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Steven Bauman joins XL Catlin as head of global programmes and captive practice in North America
XL Catlin has appointed Steven Bauman as head of global programmes and captive practice in North America. Until recently he…
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Moody’s downgrades four Chinese insurers after sovereign rating downgrade
The insurance financial strength ratings (IFSRs) of four Chinese insurers, including two captives, have been downgraded and their outlooks revised…
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Asian market’s potential for captive growth ‘immense’
The Asian market for captive insurance is relatively unexplored but the potential for growth is immense, according to Danial Mah…