In its latest Global Forum Peer Review, the OECD has given Cayman top marks for its “robust and transparent” legal and regulatory regime.
The Captive Insurance Companies Association (CICA) has renewed its support for the Coalition for Competitive Insurance Rates (CCIR) in response to the US budget.
A court of appeals has affirmed a District Court ruling that the State of Nevada cannot deny a risk retention group the right to do business in the State, ending a dispute that began in 2010.
Energy giant, BP’s Vermont-based Saturn captive has had its A- rating affirmed by AM Best; in a move that reflects its strong capitalisation, “low risk retention and excellent group reinsurance support.”
Guernsey’s tax standards have been endorsed by the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes.
A scholarship fund run by IMAC, which has sent 24 Caymanian students to complete post-secondary education since 1994, received a donation of $20,000 from Cayman-domiciled captive Churchill Casualty.
QualCare Captive Insurance Company, a captive of QualCare Inc, has been approved as the first sponsored cell captive in the state of New Jersey.
Delaware-domiciled United Contractors’ Insurance Company was downgraded by A.M. Best, their financial strength rating falling to C- and issuer credit rating to “cc”, before the rating agency withdrew the ratings at the request of the company’s management.
Marsh has appointed of Matt McCabe, a former congressional advisor on cyber security, to the Network Security and Privacy Practice as a senior vice president.
A.M. Best announced that Bermuda-domiciled Transmonde Services Insurance Company has been upgraded to a financial strength rating of A (Excellent) from A-.