Guernsey, which styles itself as Europe's leading captive insurance market, is meeting current international standards in regulating its insurance industry, according to a report published by the International Association of Insurance Supervisors (IAIS).
The Governor of Gibraltar, Lieutenant General Edwards Davis, has appointed Nigel Feetham, partner at Hassans, to the rank of Queen’s Counsel.
Aside from more complicated tax returns, Guernsey’s new economic substance requirements which apply to insurance companies - and by extension captives - are not seen as particularly burdensome.
The Managing General Agent’s Association (MGAA) has been exploring opportunities to develop the managing general agents (MGAs) sector in Guernsey, following talks between managing director Peter Staddon and MGAA found David Coupe, and the Guernsey International Insurance Association (GIIA).
The Central Bank of Ireland has granted regulatory to approval to Randall & Quilter Investment Holdings' planned acquisition of Western Captive Insurance Company (WCIC), the Irish-domiciled captive of construction and engineering company Coffey Group.
Carey Olsen partner Christopher Anderson, with the support of the Guernsey Financial Services Commission, has created a new hybrid ILS vehicle - a protected or incorporated cell company that is both a licensed insurance company and a regulated investment fund.
Bermuda premier David Burt and minister of finance Curtis Dickinson is leading a team to Europe for discussions aimed at laying the groundwork for removing the island from the EU's list of non-cooperative tax jurisdictions, also known as the blacklist.
Lockton has formed a new reinsurance business and hired three senior executives from Guy Carpenter and Marsh, including the former leader of Marsh Captive Solutions, Nick Durant.
Intercona Re, the captive reinsurer of transnational food and drink company Nestlé has requested to no longer participate in AM Best's rating process, and the ratings agency has subsequently withdrawn the company's ratings.
European Insurance and Occupational Pensions Authority (EIOPA) has issued guidance for European regulators to ensure insurance contract continuity if the UK leaves the European Union with no deal.