With the third quarter of this year registering the tenth consecutive quarterly decline in re/insurance rates, the soft market must now be considered the new normal, Chris Lay, president of Global Captive Solutions at Marsh, told delegates during the Insurance Market Update panel at the Cayman Captive Forum taking place this week.
Questions about the capitalisation of captives, including a debate over what constitutes the right level of capital, prompted some interesting debate at the Cayman Captive Forum being held this week.
The successes and challenges faced by captives covering liabilities associated with obstetrics was covered in detail at a session at the Cayman Captive Forum 2015, which is taking place this week.
Having the right reinsurance partner is one thing, but many captives lack understanding about crucial issues related to the reinsurance agreement, Brian First of Arch Insurance and Eric Lark from law firm Kerr, Russell and Weber, said at a discussion at the Cayman Captive Forum 2015 taking place this week.
Rating agency Standard & Poor’s (S&P) has revised its long-term counter credit and insurer financial strength ratings on Bermuda-based captive insurer Stellar Insurance.
The Cayman Islands Monetary Authority (CIMA) has appointed Razaak Busari as deputy head of its insurance division.
Cayman Captive Forum has unveiled Jason Dorsey as the keynote speaker for its 2015 forum.
A Cayman delegation of 30 people is set to head to New Orleans to the annual Risk and Insurance Management Society (RIMS) conference.
The founder of Cayman-based Advantage International Management has received a distinguished service award from the Captive Insurance Companies Association (CICA).
The Royal Court of Guernsey has restored a captive insurance company that had been dissolved following liquidation for the first time ever.