Reinsurance News
captives
Solvency II disclosures show EU captives generally strong: A.M. Best
28th June 2017
According to rating agency A.M. Best, the Solvency II disclosures published by European captive insurance companies show that the captives in the region are generally healthy and strong. A.M. Best analysed the Solvency and Financial Condition Reports (SFCR) published by its rated European captives and has also met with captive managers ... Read the full article
FERMA offers guidance for BEPS on captive re/insurance business
23rd June 2017
The Federation of European Risk Management Associations (FERMA) has published the industry's first report on captive re/insurance arrangements, in an effort to ensure the implementation of Base Erosion and Profit Shifting (BEPS) as recommended by the Organisation for Economic Co-operation and Development (OECD). OECD members raised some concerns of the interpretation of ... Read the full article
Vermont legislation rehaul allows reinsurers to expand with agency captives
7th June 2017
Vermont Governor Phil Scott signed new legislation to add agency captives, reinsurers controlled by brokers or insurer agencies, to the types of captives allowed in Vermont - one of the world's largest captive domiciles. An agency captive is set up to receive a share of premiums written and pays its share of ... Read the full article
U.S. university students launch Bermuda captive insurer
2nd May 2017
In what's believed to be a world first, a U.S. university has launched a Bermuda domiciled student-run captive insurer that will self-insure a number of risks for the university, underlining just how cost-effective the establishment of a captive in Bermuda is and supporting the drive for re/insurance industry talent. The captive ... Read the full article
R&Q acquires captive insurer ICDC
22nd March 2017
Randall & Quilter Investment Holdings (R&Q) has announced its acquisition of American Fortune 500 captive insurer, ICDC. ICDC reinsured its parent company for workers' compensation, commercial general liability, business auto liability, business auto physical damage and property risks. As of 31st December 2016 it had a total net asset value of $7.95 million, ... Read the full article
Guernsey and Beijing sign MoU for captive business expansion
16th March 2017
Guernsey's Finance Chairman Lyndon Trott has finalised a Memorandum of Understanding (MoU) with Beijing Airport Economic Core Zone, BAECZ, to expand its captive business in China. Under the MoU, both parties have agreed to cooperate in captive insurance market development, financial innovation, and information exchange. The move is intended to aid Chinese captive market development both ... Read the full article
Bermuda’s captive market remains the largest
15th February 2017
The captive insurance and reinsurance market in Bermuda remains the largest in the world, with registrations in 2016 helping to keep the islands captive register stable during the year. A total of 776 captive insurers were registered on the island at the end of 2016, with 13 new captives registering over ... Read the full article
Charles Taylor opens Latin America captive office, hires Arch Re exec
2nd February 2017
Charles Taylor has opened a new office in Panama in a move that expands its captive insurance services' capabilities across Latin America, and has appointed Alvaro Ortiz, formerly of Arch Reinsurance, Bermuda, to lead the new office. Ortiz joins the company as President and Chief Executive Officer (CEO of Charles Taylor RSLAC Inc., ... Read the full article
Cayman captive insurer registrations almost double in 2016
20th January 2017
Growth figures for captive insurance, reinsurance, life and annuity company formations in the Cayman Islands nearly doubled in 2016. The Cayman Islands insurance management industry has reported figures rising from 22 new formations in 2015 to 39 in 2016. Total premiums written for the sector were at $14.6 billion, up from U.S. ... Read the full article
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