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831(b) blues: the Avrahami aftermath
Accounting & tax analysis
One of the most closely watched cases in the captive industry has drawn to a close, and the IRS has scored a win against 831(b)s in the case of Avrahami v Commissioner. Various experts weigh in on what can be taken away from this result.   25 August 2017
Accounting & tax analysis
The scrutiny that some types of captives – in particular 831(b)s – face from the IRS is unlikely to go away, and advisors must get smarter about how they educate clients, according to Anne Marie Towle, captive consulting practice leader at JLT Insurance Management, speaking at the Vermont Captive Insurance Association’s (VCIA) annual conference in Burlington, Vermont.   11 August 2017
Analysis
The Gibraltar government has indicated that it will allow Gibraltar licenced Protected Cell Companies (PCCs) third party business in a move intended to open up new opportunities for Gibraltar’s insurance sector.   10 August 2017
Analysis
Since the introduction of the first captive bill in 1981, captive insurance has played an important role in supporting economic growth in the state of Vermont.   10 August 2017
Analysis
Increasing premium limits, reporting requirements, ownership restrictions, and increased scrutiny from the Internal Revenue Service (IRS) has made prospective captive owners more cautious about forming 831(b) captives.   8 August 2017
Law & regulation
Against a backdrop of rising medical costs and uncertainty surrounding the future of US healthcare, more proactive business owners are looking at more competitively priced solutions such as medical group captives.   8 August 2017
Analysis
Abu Dhabi Global Market (ADGM), the financial centre of Abu Dhabi, has partnered with Labuan International Business and Financial Centre (Labuan IBFC) and Labuan Financial Services Authority (Labuan FSA) to support the growth and development in both financial ecosystems in Labuan, Malaysia and Abu Dhabi.   1 August 2017
Analysis
US and international law firm Clyde & Co has opened an office in Los Angeles, following partner Julie Hawkinson's move to the city.   25 July 2017
Analysis
The US Department of the Treasury and the Office of the US Trade Representative have issued a public noticed of intent to sign the covered agreement with the European Union, and officials from the Trump administration are expected to sign in the coming weeks.   17 July 2017
Actuarial & underwriting
National Surety Underwriters, previously known as Agency Bonding Captives, an underwriting agency and reinsurance captive headquartered in Philadelphia, has raised some $11.5 million in a deal that will allow it to underwrite and reinsure surety bonds through its licensed insurance carrier partner, Clear Blue Insurance Company.   13 July 2017

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