Captives are continuing to demonstrate their value in the management and retention of risk, as they venture out from covering mainstay risks to the more non-traditional.
Willis Towers Watson’s Global Services and Solutions (GSS) practice has appointed Paul Devitt as director, based in London.
A new Captive Insurance CE Learning Center, featuring online courses on captive insurance and related topics, has been launched partly on the back of industry demand for less structured courses of this nature and will be suitable for executives with varying degrees of experience around captives.
The Canadian and Cayman Islands insurance markets are made for each other, according to representatives from the Insurance Managers Association of Cayman, who have been showing increased interest in Canadian captives.
Nevada is now home to 150 active captives, the largest number in its history, after the state approved 30 new captives in 2013.
Gibraltar plans to become an Insurance Linked Securities (ILS) jurisdiction within the European Union.
Ocean Reinsurance Company, which focuses on reinsurance and offers a diversified product mix in several countries throughout South America, has been issued a financial strength and issuer credit rating of “A-“ and “a-“ respectively.
BevCap Health is the first cell of BevCap Sponsored Captive Insurance, Inc.
Isosceles Insurance Ltd has been assigned a financial strength rating of B++ and an issuer credit rating of “bbb+” by A.M. Best.
Group Management Services has merged with three third party administrators—Ogden Benefits Administration, Employee Benefits Concepts and Variable Protection Administrators—as the combined entity looks to drive down client medical costs associated with Obamacare.