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Skyward Specialty & eMaxx expand captives partnership

4th October 2023

Skyward Specialty Insurance Group, Inc., a leader in the specialty P&C market, and eMaxx, a tech-enabled specialty provider of commercial P&C insurance captive solutions and programs, have announced the expansion of their captives partnership. According to the announcement, Skyward Specialty is set to provide strategic support and additional capacity for eMaxx’s ... Read the full article

Risk Strategies to consolidate its captives group under the RMA brand

15th September 2023

Specialty insurance brokerage and risk management firm, Risk Strategies is set to consolidate its independent captives group under the Risk Management Advisors (RMA) brand, in a move that merges Atlas Insurance Management into the RMA brand and operations. According to the announcement, the newly consolidated operations will be led by Managing Director Max ... Read the full article

Captives to remain a vehicle of choice: Sivanesan, Labuan IBFC

15th June 2023

Against a backdrop of market-hardening effects, Labuan International Business and Financial Centre (Labuan IBFC)’s captive sector continued to gain momentum with five new players and total gross premiums of USD 571 million in 2022. More than 62% of the premiums were generated from the international insurance business. “This underscores Labuan IBFC’s ... Read the full article

Group captives appeal rising alongside inflation: Triple-I

24th March 2023

Group captives are becoming increasingly appealing as a solution for many companies during this period of financial volatility and inflationary pressure, according to analysts at the Insurance Information Institute (Triple-I). A new report by Triple-I notes that group captive insurance can be a source of value for certain firms, and can ... Read the full article

Aon highlights how captives can drive positive ESG outcomes

29th November 2022

A recent Aon report has highlighted how using a captive insurance company can drive positive ESG outcomes, alongside how the UN Environment Program’s Principles for Sustainable Insurance can aid captive owners to address ESG risks and opportunities. Aon notes that despite variations on the traditional captive definition, all types of captives ... Read the full article

BMA notes growth in Bermuda cyber and climate risk captives

24th November 2022

The Bermuda Monetary Authority (BMA) has noted a “significant growth increase” in the number of organisations using captives for cyber insurance and climate risk as part of their overall management of risk. In a new report on the state of the Bermuda captive market, the BMA says the sector has proved ... Read the full article

Bermuda, Cayman & Barbados captives still outperforming commercial peers: AM Best

22nd November 2022

Rated Bermuda, Cayman Islands and Barbados (BCIB) captive insurance companies have continued to outperform US commercial casualty peers, with a combined ratio approximately 13 percentage points better over the most recent five-year period, suggests a recent AM Best report. The report notes that the present hard insurance market has provided growth ... Read the full article

Stephen White to lead AXA XL’s Alt Risk and Captives team

8th November 2022

AXA XL, the property & casualty and specialty risk division of AXA, has announced the appointment of Stephen White as Alternative Risk and Captives Leader for Canada. In his new role, based in Toronto, White will oversee the continued growth of the company’s captive business in Canada, working closely with clients ... Read the full article

AXA XL appoints leaders for new Group Captives unit

16th September 2022

AXA XL’s Primary Casualty Business has appointed both Mark Benz and Joseph Davina to lead the newly created Group Captives unit. Both Benz and Davina will be based in New York and will report to Chris Kopser - President and CUO Primary Casualty, Americas. Benz takes on the role as Head of Group Captives Primary ... Read the full article

Grainne Richmond appointed Aon Bermuda head of captives

14th September 2022

Re/insurance broker Aon, has appointed Grainne Richmond as executive vice president and head of captives for its Bermuda office. With more than 20 years’ experience of insurance management in Bermuda, Richmond joins Aon from Strategies Risk Solutions (SRS), where she served as vice president for almost two years. Prior to this, ... Read the full article

Solid net increase in US captives expected in 2022

15th June 2022

Early new captive formation reports suggest a strong 2022 across all industries and lines of insurance, according to a new report by WTW.  There has been a notable expansion of captive formation and use by managed care organisations since 2021 and, compared with recent years, captive ... Read the full article

Captives to take on risks shunned by traditional re/insurers: AGCS’s Houlihan

13th May 2022

With many insurers and reinsurers beginning to shy away from complex emerging risks, captives could be set to take on more of the issues shunned by the traditional market. This is according to Thomas Houlihan, Regional Head, Americas - ART (Alternative Risk Transfer) at Allianz Global Corporate & Specialty (AGCS), who ... Read the full article

Delaware permits corporations to use insurance captives for D&O liability

15th February 2022

The US state of Delaware has amended its General Corporate Law to permit corporations to use insurance captives to provide coverage for D&O liability. Open market insurers have generally raised their rates in each of the past 17 quarters for D&O liability coverage. Until today, it was unclear under Delaware law ... Read the full article

FERMA says captives should be regulated as low risk by default

17th January 2022

The Federation of European Risk Management Associations (FERMA) has argued that European insurance regulation should automatically treat captives as low-risk undertakings unless there are clear reasons to apply the full criteria. The comments form part of FERMA’s response to the latest consultation exercise on the revision of Solvency II by the ... Read the full article

Bermuda, Cayman & Barbados captives outperforming insurers: AM Best

9th December 2021

A new AM Best report shows that, despite the COVID-19 pandemic, Bermuda, Cayman Islands and Barbados (BCIB) captives continue to outperform the U.S. commercial casualty composite on underwriting and operating profitability. The rating agency noted that its BCIB group saw steady net earned premium growth of 11% in 2020, due to ... Read the full article