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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).

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".

Unprecedented uncertainty in politics presents insurance opportunities: Marsh

Global28-02-2019

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.

Washington DC to implement regulatory sandbox, could explore captives

North America21-02-2019

US District of Columbia mayor Muriel Bowser has recently established a council charged  with studying and reporting on the feasibility of implementing a financial services regulatory sandbox in Washington DC.

EIOPA issues no-deal Brexit contract continuity recommendations

Europe20-02-2019

European Insurance and Occupational Pensions Authority (EIOPA) has issued guidance for European regulators to ensure insurance contract continuity if the UK leaves the European Union with no deal.

Vermont introduces captive bill for 2019

North America18-02-2019

The State of Vermont has introduced a new bill to tidy up and modernise parts of its captive insurance law as it enters its 2019 legislative session.

Cayman issued 33 captives in 2018

Cayman Islands11-02-2019

The Cayman Islands Monetary Authority (CIMA) issued 33 captive insurance licenses in 2018, and surrendered 26, bringing the total to 703.

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Captive International