A new captive insurance bill has been presented to the Senate in North Carolina.
Rich Smith, president of the Vermont Captive Insurance Association (VCIA), has hit out at Washington State over its “poorly drafted” captives bill that will impose new costs on captives that insure risks in that state.
Tennessee saw 18 new captive insurance company formations in 2020 as well as 41 new cells, according to the Tennessee Captive Insurance Association (TCIA).
Valenz has launched CaptiV, a medical stop loss (MSL) group captive programme for self insured employers with fewer than 1,000 employees, in partnership with MSL Captive Solutions.
The Delaware Department of Insurance (DDI) licensed 70 new captives in 2020, including 67 conditional licenses, contributing $1 million to the City of Wilmington and $2.9 million to the State of Delaware General Fund in Fiscal Year 2020.
North Carolina licensed 47 new captive insurance companies in 2020, and approved 126 cells and series.
The State of Vermont licensed 38 new captive insurance companies in 2020, according to the Vermont Department of Economic Development, with 11 of those licenses issued in Q4 alone.
TowerBrook Capital Partners and Further Global Capital Management have agreed to acquire ProSight Global, the specialty and captive insurance company, in an all-cash transaction valued at approximately $586 million.
Hawaii licensed 21 new captives in 2020, including nine in the fourth quarter, according to Hawaii’s Department of Commerce and Consumer Affairs.
Davies Group has acquired Northshore International Insurance Services, a provider of audit, claims management and subrogation management and consulting services to the global insurance market.