Articles

Analysis

Arthur J Gallagher acquires Chicago captive consultant

Arthur J Gallagher has entered into an agreement to acquire Captive Insurance Company Design and Operations, a Chicago-based captive consultant formed by Clarity Group in 2002, with a focus on medical and professional liability.   12 December 2018

Accounting & tax analysis

Artex and Arthur J Gallagher accused of selling and managing illegal tax-shelter captives

An Arizona-based lawsuit is seeking damages from a group of defendants including Artex Risk Solutions, Arthur J Gallagher among other captive service providers for conspiring to design, promote, sell, implement and manage illegal tax-advantaged captive insurance strategies using unlawful attempted 831(b) elections.   10 December 2018

Analysis

Energi appoints CUO to support Vermont captive

Insurance programme provider Energi has appointed Michael Windstein as chief underwriting officer.   10 December 2018

Analysis

AES Vermont captive gets Good rating

Ratings agency AM Best has affirmed the financial strength rating of B++ (Good) of AES Global Insurance Company (AGIC), the Vermont-based single-parent captive of power company AES Corp.   6 December 2018

Analysis

Sun Life VP joins Berkley Accident and Health as CEO

Berkley Accident and Health, a subsidiary of WR Berkley, has appointed Brad Nieland as president and CEO   5 December 2018

Analysis

Bristol-Myers Squibb to transfer $3.8bn in pension liabilities to Athene

Bermuda-based pension risk transfer provider Athene has agreed a pension plan termination transaction with US pharmaceutical company Bristol-Myers Squibb.   5 December 2018

Analysis

Illinois overrides veto of captive reform bill

The Illinois General Assembly has voted to override the governor’s amendatory veto of SB 1737, a bill that would overhaul the state’s captive insurance laws.   3 December 2018

Analysis

Crumbling foundations captive postponed

The launch of the non-profit captive that will distribute remediation funds to assist homeowners with crumbling concrete foundations, Connecticut Foundation Solutions Indemnity Company (CFSIC), has been delayed.   26 November 2018

Analysis

DARAG Guernsey acquires SOBC Services; takes on four captive entities

DARAG Guernsey, via its wholly owned subsidiary SOBC DARAG, has acquired the entire share capital of SOBC Services, which is focussed on the sourcing, acquisition and management of insurance entities and portfolios in run off in the US, Bermuda and Caribbean.   20 November 2018

Analysis

JPMorgan captive gets ‘Excellent’ rating

Ratings agency AM Best has affirmed the financial strength rating of A (Excellent) of JPMorgan Chase’s single-parent captive, Park Assurance Company.   12 November 2018

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