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Law & regulation
RAM Re, a Cayman-domiciled segregated portfolio company structured and managed by Folio Insurance Management, has been assigned a financial strength rating of A-(Excellent) and an issuer credit rating of “a-“ by AM Best. 15 March 2013
Analysis
The Caribbean Catastrophe Risk Insurance Facility was honoured as the winner of the CICA 2013 Outstanding Captive Award. 15 March 2013
Law & regulation
Scott Kipper, insurance commissioner of Nevada, has announced an expedited approval process for single parent and 831b captive insurance companies. 14 March 2013
Law & regulation
Bahamian financial services minister, Ryan Pinder announced his ministry would launch a strategy to increase the Bahamas’ presence in the captive and international insurance industry. 13 March 2013
Analysis
Captive International spoke to Richard S. Smith, president of the Vermont Captive Insurance Association about the ongoing struggle to exclude captives from the NRRA. 8 March 2013
Law & regulation
The South Dakota Senate has passed a bill hoped to strengthen the state’s captive insurance industry. 7 March 2013
Law & regulation
Hong Kong financial secretary, John Tsang Chun-wah announced that his office will seek to establish an independent insurance authority and pass more captive-friendly tax legislation. 4 March 2013
Law & regulation
Anderson Kill & Olick released a whitepaper arguing that the NRRA was probably not intended to apply to captives— but that might not matter when it comes to enforcing the legislation. 1 March 2013
Executive Appointments
Raymond Farmer’s appointment as director of the South Carolina Department of Insurance has been confirmed by the state’s senate. 25 February 2013
Analysis
AM Best affirmed their rating of Vermont-domiciled Gateway Rivers Insurance Company, which provides insurance coverage to subsidiaries of AT&T. 22 February 2013
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