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IRS adds microcaptives to Dirty Dozen list

United States22-03-2019Insurance

The US Internal Revenue Service (IRS) has added microcaptives to its Dirty Dozen list of common scams that it claims that US taxpayers may encounter.

IMAC welcomes EU report which omits Cayman from tax blacklist

Cayman Islands, Global14-03-2019Insurance, Reinsurance

The Insurance Managers Association of Cayman (IMAC) has welcomed the European Union (EU) report on non-cooperative tax jurisdictions, which does not feature the Cayman Islands.

Barbados expects new OECD BEPS measures to boost international presence

Barbados, Cayman Islands, North America11-03-2019Insurance, Reinsurance

The Government of Barbados’ overhaul of its insurance law is expected to give the domicile a competitive advantage and enhance its international reputation, according to Kenneth Campbell, director, investment promotion, at Invest Barbados.

Captive insurance industry continues to be misunderstood: CICA president

Cayman Islands, North America11-03-2019Insurance, Reinsurance

Against a backdrop of increased scrutiny, high-profile tax court cases, and regulatory overreach by home state regulators, the captive industry continues to be misunderstood, according to Dan Towle, president of the Captive Insurance Companies Association (CICA).

Former Marsh Captive Solutions head to join Lockton Global Re


Lockton has formed a new reinsurance business and hired three senior executives from Guy Carpenter and Marsh, including the former leader of Marsh Captive Solutions, Nick Durant.

Michigan State University sets up captive following sex scandal

North America07-03-2019

Michigan State University (MSU) had set up a captive insurance company following its former primary insurer, United Educators, introducing “onerous” new terms after allegedly failing to provide general liability insurance coverage for lawsuits and claims arising from the Larry Nassar sex abuse scandal.

North Carolina seeks captive insurance redomestications through new bill

North America05-03-2019

North Carolina has introduced a new bill aimed at attracting redomestications of captive insurance companies back to the state through a "premium tax holiday".

AIG sharing economy head joins Marsh to lead expanded practice

North America04-03-2019

Insurance broker Marsh has appointed Robert Bauer to lead its US sharing economy and mobility practice.

Ride-sharing giant Lyft details Hawaii captive in IPO


Ride-sharing company Lyft has outlined details of its wholly-owned captive insurance subsidiary in an SEC filing.

Unprecedented uncertainty in politics presents insurance opportunities: Marsh


Rising geopolitical and geo-economic tensions are leading to increased uncertainty and risk for multinationals with direct foreign investments, which in turn provides opportunity for political and trade credit insurance, and by extension captive insurance.

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