Setting up reinsurance companies in jurisdictions such as Bermuda or Cayman gives life insurers significantly more flexibility to manage the complex challenges they face, such as interest rate and longevity risk, says Patrick Ferguson of Marsh.
When starting a captive insurance company in a foreign jurisdiction such as the Cayman Islands or Bermuda, many prospective captive owners may be excited about the potential tax benefits. However, these tax benefits should never be a primary reason to form a captive, says Daniel Greaves of Grant Thornton.
Good risk management is crucial to the operation of any business, and captive insurance companies are excellent vehicles for effective risk management, says John Talley of the Missouri Department of Commerce & Insurance.
Estimations of the number of captives that exist globally vary, and a closer look at the numbers reveals some peculiar trends, says Greg Lang of the Reinsurance and Insurance Network.
Connecticut Foundation Solutions Indemnity Company is a textbook example of how a captive can step into the breach when the commercial market walks away from a crisis. Michael Maglaras, its superintendent, believes captives should now be centre-stage in dealing with the pandemic crisis.
Captive International has named the winners of the Captive International Cayman Awards, which recognise the best-in-class providers across the full spectrum of disciplines active in the captive insurance field. They are based on feedback received from the captives industry, and in particular from readers of Captive International.
The current hardening insurance market is driving greater interest in self-insurance via a captive and leading to a cooling of relations between companies and their insurers. AMRAE president Oliver Wild told Captive International sister publication Intelligent Insurer why insurers need to have a rethink—and talk to risk managers.
Christine Hougaard and Matthew Dunn of Cenfri, and Ernie van der Vyver from Clyde & Co examine the lessons that can be learned from South Africa’s cell captive regulatory journey.
FERMA board member Laurent Nihoul has seen supply chain risk management tested by COVID-19 and as captives become a more attractive option in response to the hardening market, he told Intelligent Insurer, Captive International’s sister publication, why the regulations governing them should be proportional to their size.
Captive International is proud to name the winners of its inaugural US Captive Awards, recognising the best in class providers across the full spectrum of disciplines active in the captive insurance industry.