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.
As the US economy potentially reaches the end of a cycle and interest rates start to rise, captive owners should not panic – but they might consider “taking a few chips off the table”.
Earlier this year, proposed association health plan (AHP) regulations issued by the US Department of Labor (DOL) had presented affordable healthcare plans for groupings of smaller employers - and in turn opportunities for captives - but the more recent final rules have left a lack of regulatory uniformity from one state to another.
Brown & Brown, parent company of Beecher Carlson and provider of insurance, risk management and other services, has acquired all of the assets of Coffman Standridge CSI Insurance, an Arkansas-based provider of property and casualty insurance products.