Generally considered the realm of multinational corporations, some smaller companies are also suited to take advantage of the captive option for reputation risk according to Eric Fauerbach, CEO of Alterra Risk Management.
Vermont-domiciled Agrinational Insurance Company has received an A- (Excellent) rating affirmation from AM Best as the captive maintains its strong operating performance.
Law firm Appleby’s review of the offshore market has found that finance and insurance transactions are powering the offshore M&A market.
Guernsey, which just signed its 50th Tax Information Exchange Agreement (TIEA), has been commended for its leadership by the Organisation for Economic Cooperation and Development (OECD).
Law firm Carey Olsen has appointed Sophia Harrison to its Cayman team as an associate in the litigation and dispute resolution group.
Guernsey will be promoting its financial services sector in China this November, with the Island’s chief minister, commerce and employment minister, director-general of the Guernsey financial services commission and head of Guernsey Finance leading a commission to Beijing.
The newly-formed Captive Insurance Group of New Jersey (CIGNJ) will be prioritising education, networking and legislative initiatives, with the expectation being that through its efforts the state will double its captive numbers by the close of 2014.
AM Best has affirmed the A- (Excellent) rating of Prism, the captive insurer of Apogee Enterprises, which designs, engineers and manufactures window systems for commercial and security buildings.
Bermuda has issued 55 licenses until September this year, with nine of them being Class 1 and Class 2 captive entities.
David Sampson, president and CEO of PCIAA, opened this year’s conference with a promise to defend the property and casualty insurance industry against evolving regulatory risks.