Crawford & Company, a provider of claims management solutions for insurance companies and self-insured entities, has made numerous appointments to its Asia leadership.
Ratings agency AM Best has affirmed the financial strength rating of A (Excellent) of Spirit Insurance Company and, based in Vermont, and Radius Insurance Company, based in the Cayman Islands. The outlook of these ratings is stable.
MAXIS Global Benefits Network, the employee benefits joint venture between MetLife and AXA, has appointed Nicola Fordham as director of underwriting.
Randall & Quilter (R&Q) has completed a novation of reinsurance policies issued between 2006 and 2011 from a group captive domiciled in the Cayman Islands.
Recent natural disasters have shone a spotlight on captive insurance, which can play an important role in helping organisations defray some of the related financial losses, according to Anne Marie Towle, executive vice president and captive consulting practice leader at JLT Insurance Management.
One of the strengths of the Cayman Islands as a domicile is its team approach to captives, according to Julie Robertson, partner and chair at Honigman Miller Schwartz and Cohn.
Vermont’s Department of Financial Regulation (DFR) has announced that it has licensed Vermont’s 1,100th captive insurance company.
Regions Insurance, an affiliate of Regions Bank and provider of insurance, employee benefits and captive solutions, has appointed David Linhardt as state executive for Arkansas and Texas.
The captive insurance industry in Bermuda contributes around $174 million every year to the island’s economy, according to research conducted by PwC for the Bermuda Insurance Management Association (BIMA).
Alleghany’s wholly-owned subsidiary Alleghany Insurance Holdings has signed a definitive agreement to sell Pacific Compensation Insurance Company (PacificComp), an underwriter of workers' compensation insurance, primarily in California, to CopperPoint Mutual Insurance Company for $150 million.