The Captive Insurance Companies Association (CICA) has published new guidance to provide guidance on the use of risk pools following prolific US Tax Court cases involving.
European captive ratings have been stable through the past year, with most ratings affirmed and stable outlooks maintained, according to an AM Best report.
R&Q Investment Holdings has entered into an agreement to acquire Western Captive Insurance Company (WCIC), an Irish-domiciled captive belong to the Coffey Group, a civil engineering, environmental and building contracting group of companies.
Ratings agency AM Best has affirmed the financial strength rating of A (Excellent) of The American Road Insurance Company (TARIC), the Michigan-based single-parent captive insurer owned by Ford Credit, a subsidiary of Ford Motor Company.
Marsh & McLennan Companies (MMC) has agreed to acquire JLT Group for $6.4 billion, expected to close in Spring 2019.
Texas-based insurance holding company Houston International Insurance Group (HIIG) is set to enter into a partnership with Massachusetts-based managing general agency Energi Insurance Services, to provide a captive insurance solution for energy clients.
Ratings agency AM Best has affirmed the financial strength rating of A- (Excellent) of Maxseguros EPM (Bermuda), the single-parent captive insurer wholly owned by EPM, Colombia's largest power generation and multi-utility company.
Ratings agency AM Best has affirmed the financial strength rating of A- (Excellent) of Builders Re and Builders Direct, both Luxembourg-based subsidiaries of German construction company HOCHTIEF, owned by Actividades de Construcción y Servicios (ACS).
Insurance brokerage Hub International has introduced cannabis insurance and risk services, an offering under its agribusiness and farm specialty practice, to provide medical and recreational cannabis producers, distributors and retailers protection and solutions to reduce risks within their operations.
Natural catastrophes are not predictable, so a cookie cutter programme or off the shelf cat model are bad ideas for captives. Instead, risks should be underwritten with some level of bias towards the parent organisation taking into accounts its deep understanding of the risks.