Reinsurance News
captive insurance
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
New Dawn Risk’s Webster forecasts bright 2022 for cyber captives
9th December 2021
New Dawn Risk's James Bullock-Webster believes that at some point in the coming year larger clients will no longer see value in transferring exposure to the insurance market, instead turning towards harnessing the unique benefits of captives. Bullock-Webster, who serves as Head of Technology, Media and Cyber, sees great potential for ... Read the full article
Labuan IBFC expansion sees 18 new captives approved so far in 2021
3rd December 2021
The Labuan International Business and Financial Centre (Labuan IBFC) has charted a 28% increase in premiums for its captive business so far in 2021, an expansion that has included the approval of 18 new captives. Labuan Financial Services Authority Director General, Nik Mohamed Din Nik Musa, praised the utilisation of protected ... Read the full article
AM Best notes US captive flexibility, control as commercial peers outperformed
18th August 2021
A new AM Best report indicates the operating performance of rated US captive insurers continued to surpass that of their commercial market peers in 2020, alongside emerging areas of growth, due to COVID-19-fueled market conditions. Analysts explain how captives’ inherent flexibility and control in managing risk drives profitability and retain earnings ... Read the full article
Aon to provide Kraft Heinz’ captive insurer with investment services
13th August 2021
Re/insurance broker Aon has been hired to provide its new investment service for captive insurers to the captive insurer of global food and beverage company Kraft Heinz. Aon works with Goldman Sachs to deliver the service, which seeks to make it easier for captive insurers to identify and access appropriate, high-quality ... Read the full article
AM Best notes growing interest in GCC captives
16th June 2021
Analysts at AM Best have noted growing interest in the creation of captive insurance companies in the Gulf Cooperation Council (GCC) region, due partly to the hardening trend of international commercial insurance rates. The rating agency observed that the use of captive re/insurance in GCC countries has been limited to date, ... Read the full article
Marsh adds Alex Dahlmann to lead Swedish captive operations
21st April 2021
Insurance broker Marsh and announced the appointment of Alex Dahlmann as head of office for its Swedish captive operations. In this role at Marsh Management Services AB Sweden Dahlmann will help develop and deliver captive management, insurance, accounting, regulatory compliance, and consulting services to captive owners in the region. The captive was ... Read the full article
Captive insurance thriving in hard market: Swiss Re
14th April 2021
Analysts at Swiss Re Institute have reported that companies are increasingly using captive insurance to self-insure their risks, as rate hardening and COVID-19 disruption affect commercial insurance. According to new research, captive insurer use is expanding to Asia and Latin America, and to mid-sized companies, for which new business models for ... Read the full article
BevCap sets up NC captive for medical stop loss program
7th January 2021
Alternative risk program manager BevCap Management has announced the formation of HatterasRe, a North Carolina-domiciled captive insurer. HatterasRe will act as an on-shore captive option for BevCap Health’s medical stop loss program. “I am delighted HatterasRe, LTD made the decision to domicile in North Carolina and I welcome them to our vibrant ... Read the full article
Fleming Re acquires Bermuda captive Sinclair
12th October 2020
Run-off reinsurance provider Fleming Re has agreed to acquire Sinclair Insurance Company, a Bermuda domiciled captive insurance company. Sinclair was utilized to provide reinsurance to the primary insurers of certain casualty risks of affiliated companies. The acquisition provides the shareholders of Sinclair with an exit solution allowing legal finality, elimination of operating ... Read the full article
Aon, Goldman Sachs launch investment service for captive insurers
12th October 2020
Re/insurance broker Aon has partnered with Goldman Sachs on a service designed to provide captive insurers with an easy way to identify and access high-quality investments. The new service will see Aon offer individual strategic advice, fund research and execution services through its global team of investment specialists and practitioners. Goldman Sachs ... Read the full article
Captive use rises amid pandemic volatility: Marsh
21st September 2020
According to insurance broker Marsh, more organizations are turning to captives for insurance protection and financial flexibility in response to an increasingly difficult risk landscape. In its 2020 Captive Landscape Report, Marsh reported that tightening global insurance market conditions throughout 2019 have led to higher captive utilization with steep premium volume ... Read the full article
Labuan IBFC registers seven new captives in H1
14th September 2020
The Labuan International Business and Financial Centre (Labuan IBFC) registered seven new captives in the first half of 2020, more than the entirety of 2019. These new additions brings the total number of captives registered in the jurisdiction to 56, a growth of 9.8% year-on-year. Of the seven new captives formed, four are foreign ... Read the full article
COVID-19 related market dislocation could benefit US captives: AM Best
4th August 2020
A new AM Best report suggests that firming commercial insurance prices and impacts from the COVID-19 pandemic could present opportunities for the US captive insurance segment to increase its footprint in several lines of business. US captive insurers are meant to have continued their run of strong financial results in 2019, with ... Read the full article
Vermont strengthens captive insurance laws
16th June 2020
Vermont has passed new legislation to strengthen its captive insurance laws, designed to increase efficiency while adding flexibility to regulatory policy and procedures. The bill, signed by Governor Phil Scott, includes new policies related to Vermont’s captive protected cells, which the state has identified as a promising area for growth within ... Read the full article
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