News
Accounting & tax analysis
Fewer captives are being formed but they are more sophisticated and being created for the right reasons. Add to this a greater emphasis on risk management and talent and the industry looks in good health for the long term, says Daniel Towle of the Captive Insurance Companies Association. 2 August 2019
Accounting & tax analysis
Accountancy and advisory firm Carr, Riggs and Ingram (CRI) has expanded its presence in Mississippi via a merger with WM. F. Horne and Company. 25 July 2019
Accounting & tax analysis
The FSAB’s ASU 2016-01 is now in effect. This will have a significant impact on the way any company, including most captive insurance companies, which maintains its accounting records in accordance with GAAP, will be required to comply, says Leon Rives of Rives and Associates. 22 July 2019
Accounting & tax analysis
Syzygy Insurance v Commissioner may paint a negative picture of the industry, but also provides some helpful guidance on how to structure small captives, says David Kirkup, chief operating officer at Captive Alternatives. 28 June 2019
Accounting & tax analysis
Pinnacle Actuarial Resources has promoted Nicholas Gurgone to consulting actuary. 20 June 2019
Accounting & tax analysis
Many large companies are looking to better leverage their captives to avoid “unbudgeted” rate hikes on their traditional insurance programmes, John English, CEO, captive and insurance management, Aon, told Captive International. 13 June 2019
Accounting & tax analysis
A hardening market has prompted many companies to explore ways of leveraging their captive to help dodge or at least offset some of the rate increases, according to Jason Flaxbeard, executive managing director, captive management and consulting, Beecher Carlson. 12 June 2019
Accounting & tax analysis
Captive premium growth for cyber risk has accelerated by 263 percent in the past year, according to Aon. 11 June 2019
Accounting & tax analysis
Just 10 days before the scheduled trial in the US Tax Court, the taxpayers conceded the remaining issues in Pilot Series of Fortress Insurance et al v Commissioner. The pretrial pleadings highlighted many of the key questions that remain open in litigation over the tax treatment of captive insurance transactions. Those questions—and the parties’ efforts to answer them—provide a roadmap of what to expect as additional cases move toward trial. Jenny Johnson Ware, founding partner of tax litigation boutique Johnson Moore, analyses those key questions and what we can learn from them—despite the fact that the Tax Court will not be providing any answers. 7 June 2019
Accounting & tax analysis
The Internal Revenue Service (IRS) had planned to use tape recordings of an undercover agent looking to form an 831(b) captive with Tribeca Strategic Advisors - now part of Artex Risk Solutions - in order to support its argument that a captive in a recent lawsuit lacked economic substance. 3 June 2019
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