The US Department of the Treasury and the IRS announced that the start date of the Foreign Account Tax Compliance Act (FATCA) will be pushed back by six months, to July 2014.
Mid-size companies in light manufacturing are a perfect match for group captives as they can help them avoid premium hikes as rates in the open market harden.
The Double Taxation Agreement (DTA) between Jersey and Hong Kong, originally signed in February of last year, has been formally introduced into law.
Advantage Insurance Holdings, a specialty insurance services company based on the Cayman Islands, has appointed Walter Keenan as its president and chief executive officer.
Writing in our US Captive title, Dennis Harwick, president of CICA, argues that a recent New York regulatory report attacking offshore captives is a ‘political document’ that fails to differentiate true captives from so-called ‘shadow insurance’.
Black Pearl Insurance 1 PC is the first protected cell company to be established in Jersey and will insure professional liability risk—professional indemnity and D&O—for Polygon Group.
The Bermuda Business Development Corporation, formed through a merger of Business Bermuda and the Insurance Development Council, has named Stephen Lund as its new CEO.
R&Q has acquired MPPA Insurance, a Class 2 Bermudian captive already in run-off, for $3.4 million in its first Bermuda transaction.
The stigma against middle market captives is diminishing in the industry but has far from vanished, believes Jeremy Huish, business director at Artex Risk Solutions.
The Captive Insurance Companies Association (CICA) sent a letter to the National Association of Insurance Commissioners (NAIC) to thank president Jim Donelon for his support of the industry.