The Cayman Islands government has announced its adoption of Model 1 of the intergovernmental agreement on FATCA, with similar agreements forthcoming with the UK.
Aon has announced that Michael O’Conner will take over the role of chief operating officer for the firm’s risk management solutions business, including Aon Risk Solutions and Aon Benfield, effective immediately.
The European Insurance and Occupational Pensions Authority (EIOPA) has launched a public consultation on guidelines related to preparations for Solvency II.
Guernsey has signed a double taxation agreement with Qatar in a move that will cement growing commercial ties between the two domiciles.
The Self-Insurance Institute of America (SIIA) announced a reorganised government relations team based in Washington, D.C. The team was adjusted to increase the organisation’s political influence, particularly with key Democrats and the media.
A report issued by AM Best, entitled Qatar’s Insurance Market is Well-Positioned for Growth, indicates that the Gulf nation’s insurance industry is poised to grow 5 percent in 2013 alone.
Red Re, Coca-Cola’s South Carolina-domiciled captive insurer, has received approval from the US Department of Labor to expand its use to include benefits coverage.
AM Best has assigned a financial strength rating of A+ (Superior) and issuer credit rating of “aa-“ to Risk Reinsurance Limited (RRL), a captive insurance company of state-owned enterprise Transpower New Zealand Limited.
Following a rating downgrade from AM Best, Jamaica International Insurance has opted to no longer participate in the firm’s interactive rating process.
Bermuda is the world’s largest domicile by number of active captives, reporting a total of 856 at the end of 2012.