The Washington Office of the Insurance Commissioner is offering captives that have unlawfully insured any risk in the state in the past 15 years a self-reporting period of 18 months to pay significantly reduced fines.
The European Securities and Markets Authority (ESMA) has registered AM Best as credit rating agency so it can continue to provide ratings after Brexit through its new Amsterdam-based subsidiary.
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.
Insurance broker Marsh has been granted the first license to provide captive management services in Abu Dhabi.
The Government of Barbados has made changes to its insurance law which will result in captives being zero taxed and paying a license fee instead.
Independent insurance manager and financial advisor Robus Group has opened an office in Malta to give clients the ongoing ability to access the single market after Brexit.
SRS Europe has appointed Mary McMorrow as its head of governance, where she will help clients develop and implement governance approaches that add value within their operations.
The Vermont Captive Insurance Association (VCIA) is looking to build its relationship with the Chinese insurance market and aid China’s nascent captive sector.
The Cayman Islands Monetary Authority (CIMA) has issued licenses for four new captive insurance companies and one portfolio insurance company in the third quarter of 2018.
Specialist re/insurance market Lloyd’s aims to write facultative reinsurance and non-proportional excess of loss (XoL) treaty reinsurance on Lloyd’s Brussels paper from 1st January 2019 across all markets in the EEA.