Rating agency AM Best has affirmed the financial strength rating of A (Excellent) and the issuer credit rating of “a” of Palms Insurance Company.
Randall & Quilter Investment (R&Q) has completed the novation of liabilities for policy years 2003 to 2011 from a Cayman domiciled entity, Westland Insurance Company (Westland), to the R&Q owned segregated account company in Bermuda, R&Q Quest (SAC).
Dozens of representatives from Cayman’s captive insurance industry, including the Insurance Managers Association of Cayman (IMAC), government officials and representatives of the Cayman Islands Monetary Authority (CIMA), and Cayman Finance are representing the islands at the annual Risk and Insurance Management Society (RIMS) conference in San Diego, California this week.
Atlas Insurance Management (Atlas), a Charlotte-based captive insurance management firm, announced today that group managing director, Nick Leighton, will retire at the end of May 2016.
The Insurance Managers Association of Cayman (IMAC) has re-elected Kieran O'Mahony, and Linda Haddleton as IMAC chair and IMAC vice chair/legislative and regulatory committee chair respectively.
The Cayman Islands captive insurance industry stayed stable throughout 2015 with 22 new licences being recorded, according to the Insurance Managers Association of Cayman (IMAC).
Bermuda-based Randall & Quilter (R&Q), the insurance services and investment company, has completed the novation of liabilities from a Cayman-domiciled captive.
Cyber-attacks were one of the main topics on the agenda at the 2015 Cayman Captive Forum, which took place from December 1-3.
The dramatic increase in M&A activity in the healthcare sector has been widely debated and as systems come together, consideration must be given to surplus captives and what to do with them.
The acquisition frenzy in the healthcare captive sector means that decisions must now be made about whether new additions will be brought into the captive arena or covered commercially.