Vermont will now allow more types of captives, including sponsored and industrial insured captives, to enter dormant status in the domicile without having to pay annual minimum premium tax.
The Bermuda Business Development Agency (BDA) will lead a team of industry and regulatory experts to Toronto next month to detail the benefits to Canadian corporations of setting up captive insurance companies in Bermuda.
AM Best has affirmed the financial strength rating of B (Fair) and the issuer credit rating of "bb+" of Philmont Insurance Company, the Vermont-domiciled captive. The outlook for each rating is stable.
Grainne Richmond, who has been appointed as the new president of the Bermuda Insurance Management Association (BIMA), says she will use the opportunity to ensure a strong future for Bermuda’s captive industry.
Hanover Stone Partners, a risk management services firm, has named Daniel Labrie as a senior risk advisor who will have a prominent role in the firm’s captive services.
BevCap Captive Group has revealed it has joined BevCap Health under the umbrella of BevCap Sponsored Captive Insurance, a sponsored cell captive domiciled in Hawaii.
The Bermuda operations of captive manager Marsh IAS has appointed Jill Husbands as chairman and Lawrence Bird as head of office for Marsh IAS in Bermuda.
Tim Tarter, an attorney with Woolston and Tarter, a US tax firm, will be the keynote speaker for the North Carolina Captive Insurance Association (NCCIA) 2016 Annual Conference.
AM Best has revised the outlook Solen Versicherungen (SVAG) and Noble Assurance Company to negative from stable but affirmed their financial strength rating of A+ (Superior).
QBE North America, an operating division of global insurer QBE Insurance Group, has released a new white paper about the increased use of medical stop loss captives by companies that self-fund their employee health insurance plans.