Reinsurance News
captive insurance
US Captive insurance market continuing to generate profits: AM Best
15th August 2022
According to a new report by rating agency AM Best, the US captive insurance market segment continued to generate profits and surplus gains in 2021, while outperforming its commercial market peers. The report, titled “U.S. Captive Insurance: Stepping In Amid Capacity and Pricing Challenges,”, states that AM Best-rated US captives reported ... Read the full article
Tennessee establishes captive insurer for state property risks
10th August 2022
The State of Tennessee has announced the establishment of the Tennessee Captive Insurance Company to create additional efficiencies and savings when insuring state property. In a press release, the Tennessee State Government said that implementing the Tennessee Captive Insurance Company will allow the State to operate with a high degree of ... Read the full article
Vermont names Christine Brown new Director of Captive Insurance
26th July 2022
Assistant Director Christine Brown has been promoted to Director of Captive Insurance at Vermont’s Department of Financial Regulation (DFR). She will be succeeding Sandy Bigglestone, who will be appointed Deputy Commissioner of the Division when David Provost retires at the end of August. Brown started her tenure at the Captive Insurance Division ... Read the full article
David Hully joins RISCS as Partner
20th July 2022
RISCS, an independent consultancy providing captive and alternative risk transfer (ART) strategic risk advice, has recruited David Hully as a Partner. With over 24 years of international financial services experience encompassing insurance, management consulting, asset management and investment banking, Hully will be responsible for designing and implementing ART structures to RISCS ... Read the full article
NFP forms captive management arm
18th July 2022
NFP, a property and casualty broker, has established NFP Captive Management (Alberta) Corp. and appointed two industry veterans in the captives and alternative risk space. This will enable NFP to form and administer Alberta-domiciled captive insurance companies for their clients. Joseph Seeger, managing director, co-lead, CRSG of NFP in Canada, ... Read the full article
Arch fronts Samuel Hale’s captive for $50m worker’s comp risk
22nd June 2022
Arch Insurance will front a captive insurance program for Samuel Hale, the California-based employer carve-out organisation (ECO), announced this month. With this, Samuel Hale plans to insure its $50m worker’s compensation risk, effective July 1st. After six years of work, this arrangement will enable the organisation to maximise the advantages of the ... 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
Vermont captive insurance reforms signed into law
6th June 2022
State Governor Phil Scott has signed new legislation into law that aims to modernize Vermont’s captive insurance statutes and remove inconsistencies. This year’s bill proposed several updates to Vermont’s captive insurance law, including the ability for captive insurance companies to enter into parametric risk transfer contracts. It also looks to simplify reporting ... 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
Eliot Partnership opens Sydney office, led by Graeme Young
27th January 2022
Eliot Partnership, a global insurance sector executive search firm, has opened its sixth office located in Sydney, Australia, which will be led by Graeme Young. Young has relocated from Eliot’s New York office and will operate alongside the firms’ existing Asia operation based in Singapore, which is led by Senior ... Read the full article
Cyber MGA Resilience sets up captive reinsurer
26th January 2022
Resilience, a cyber insurance and security solutions managing general agent (MGA), has announced the establishment of a new captive reinsurance company. Through the captive, Resilience Cyber Insurance Solutions plans to retain a share of each risk it underwrites. This strategy, Resilience says, will enable additional growth while also helping it to underwrite ... Read the full article
Vermont licensed 45 new captive insurers in 2021
24th January 2022
The US state of Vermont is reporting that forty-five new captive insurance companies were licensed within its borders in 2021, a feat that the state is calling the fourth-highest year of growth within the last four decades. That figure brings the total number of licensed captives within the state to 620 ... 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
Cowbell Cyber launches captive insurer, Cowbell Re
12th January 2022
AI-powered cyber insurer Cowbell Cyber has announced the launch of a new insurance captive called Cowbell Re, which will help the firm address rising demand for cyber insurance with additional capacity. It’s hoped that the launch of Cowbell Re will provide the company more flexibility as Cowbell Cyber continues its growth ... Read the full article
Coalition launches cyber-focused Captive
13th December 2021
Commercial lines insurtech Coalition is set to launch a new captive targeting risk on its cyber programs. It's hoped this Captive will enhance Coalition's ability to manage capacity and its long-term growth objectives, whilst also aligning incentives with its customers. The firm's technology-driven approach is eyeing a new, more successful model of ... Read the full article
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