Ratings agency AM Best has affirmed the financial strength rating of A (Excellent) of Vermont-based Spirit Insurance Company and Cayman-based Radius Insurance Company, the captive insurers of energy company Phillips 66.
Greenlight Re Innovations, part of Cayman Islands-based specialist P&C reinsurer Greenlight Re, has invested in Sana Benefits an Austin-based third party administrator with a focus on the self-insured US health market.
Crowe Horwath has appointed Lawrence Kemp as audit assistant manager for its Cayman practice, with a focus on auditing captive insurance companies.
Ratings agency AM Best has upgrades the financial strength rating to A (Excellent) from A- of Raffles Insurance, a group captive based in the Cayman Islands.
The Insurance Managers Association of Cayman (IMAC), a nonprofit organisation that represents Cayman's captive and alternative risk management insurance industry, has launched a new brand identity for promoting the industry internationally.
The Cayman Islands Monetary Authority (CIMA) has signed a memorandum of understanding (MOU) with The National Association of Insurance Commissioners (NAIC).
Global Captive Management (GCM), a captive manager licensed in the Cayman Islands, South Carolina and New Jersey, has promoted three of its employees to its senior management team.
Specialised large account insurance broker Beecher Carlson has expanded its captive practice in the Cayman Islands with the appointment of Clayton Price.
The Cayman Islands Monetary Authority issued 14 captive insurance licenses during the second quarter of 2018, including two portfolio insurance companies (PICs).
International law firm Bedell Cristin plans to merge with Cayman-based law firm Solomon Harris.