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BMA promotes Gerald Gakundi to director of supervision for insurance

Bermuda02-09-2020

The Bermuda Monetary Authority (BMA) has named Gerald Gakundi as its new director of supervision for insurance, promoting him from his former role of deputy director of the group.

Oklahoma reduces capitalisation requirement for some special purpose captives

North America26-08-2020

The Oklahoma Insurance Department (OID) has reduced the capitalisation requirement for certain special purpose captive insurers to $50,000, effective from September 16, 2020.

SCDOI makes four promotions in the captives division

North America24-08-2020

The South Carolina Department of Insurance (SCDOI) has promoted Dan Morris to deputy director for solvency. He takes on overall responsibility for the captive division, as well as the analysis and examination of traditional companies, replacing Lee Hill, who recently retired. 

Regulators should use consulting actuaries to analyse captive loss projections: VCIA

North America18-08-2020

Captive insurance regulators should use consulting actuaries to analyse the loss projections of captives under their oversight to determine whether they are engaged in genuine risk transfer. 

BMA confirms registration for Pearl Insurance

Bermuda10-08-2020

The Bermuda Monetary Authority (BMA) confirmed the registration of Pearl Insurance Group, a class one insurer, in July. 

TDCI names Joshua Clark as director of business development for insurance

North America04-08-2020

The Tennessee Department of Commerce and Insurance (TDCI) has appointed Joshua Clark as its new director of business development for the insurance division, where he is responsible for expanding the use of captives.

South Africa’s FSCA proposes new rules for cell captives

Africa31-07-2020

South Africa’s Financial Sector Conduct Authority (FSCA) has published a revised draft of its conduct standard outlining the requirements relating to third party cell captive insurance business. 

More than 20 captives bodies file key brief in IRS CIC vs IRS Supreme Court case

North America24-07-2020Insurance, Reinsurance

It relates to Notice 2016-66 that forces some captives owners to report tax details to the IRS.

Blow for 831(b)s as tax court confirms IRS will seek 40% penalties

North America24-07-2020Insurance

While the penalty is lower in the Oropeza case, this is an exception.

More detail emerges on captive coalition’s amicus brief filed in CIC case

North America24-07-2020Insurance, Reinsurance

It addresses specific concerns the captive insurance industry has around recent actions by the IRS.

Showing 11 to 20 of 472 results

Captive International