Experts at the North Carolina Department of Insurance (NCDOI) are expecting to licence more than 40 captives by the end of 2014.
Advantage Insurance has formed a captive in South Carolina to write life insurance.
US captive insurers rated by AM Best have continued to outperform the commercial sector in every key financial measure. This is according to the rating agency’s latest report on the captive insurance sector.
The Missouri Captive Insurance Association captive forum is set to discuss the changing tax environment for captives.
Insurer XL has bolstered its captive insurance solutions with the appointment of Matthew Latham as head of captive programmes.
Aon Risk Solutions, the global risk management business of Aon, has strengthened its US financial services group leadership team with a number of appointments.
Artex Risk Solutions, Arthur J. Gallagher’s (AJG) Bermuda-based captive management and alternative risk programmes operation, has confirmed that it is involved in the US Internal Revenue Service (IRS) investigation into the captive industry.
An over-reliance on cash can be self-defeating for captives as an investment strategy; instead, they should begin to look at other asset classes that have outperformed cash in recent years.
A rule proposed by the Federal Housing Finance Agency (FHFA) that would revise the requirements for financial institutions to apply for and retain membership in one of the 12 Federal Home Loan Banks could exclude captives entirely.
The UK Financial Conduct Authority (FCA) has removed from its website the initial list of ‘High Risk Countries’ and committed to a full review of the methodology that resulted in the Cayman Islands being placed on the list.