More organisations looking to cost-effectively manage their net retained terrorism risk are using captive insurers to access the Terrorism Risk Insurance Program Reauthorisation Act of 2015 (TRIPRA), according to Marsh's 2018 Terrorism Risk Insurance Report.
SOBC Sandell, a company that specialises in the acquisition and management of distressed re/insurance entities, has received regulatory approval from the Vermont Department of Financial Regulation to form a captive manager in the state.
Randall & Quilter Investment Holdings (R&Q) has issued $70 million of adverse development reinsurance covering medical profession liability and general liability risk for a US domiciled risk retention group (RRG).
Pension Insurance Corporation (PIC), a specialist insurer of defined benefit pension funds, has finalised a £725 million longevity reinsurance agreement with PartnerRe.
Property/casualty insurance actuarial firm Pinnacle Actuarial Resources has established itself in Charleston, South Carolina as it continues to grow domestically.
There are a number of actions captive owners can take to expand and add more risk to their captives in order to make it a bigger and better tool – and there are every more sophisticated methods of figuring out the costs of any particular risk the owner is worried about.
Ratings agency AM Best has affirmed the financial strength rating of A (Excellent) of Delaware-domiciled group captive, Nuclear Electric Insurance Limited (NEIL).
National Surety Underwriters, previously known as Agency Bonding Captives, an underwriting agency and reinsurance captive headquartered in Philadelphia, has raised some $11.5 million in a deal that will allow it to underwrite and reinsure surety bonds through its licensed insurance carrier partner, Clear Blue Insurance Company.
Advisory firm Moore Stephens has merged with James, Brennan & Associates (JBA), a London-based firm of experienced consulting actuaries and statistical and insurance risk experts, with substantial knowledge of the London insurance market and the corporate and captive insurance market sector.
Generali Employee Benefits (GEB) has appointed Eric Butler, Roland Raad and Thierry Mestach to its executive management team.