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.
Randall & Quilter (R&Q) announced this week that it has successfully reached an agreement to receive by way of novation all contracts underwritten by MPPA Insurance.
The state of Vermont has announced a series of changes to the state's captive legislation.
HB 473, the North Carolina Captive Insurance Act, has been signed into law by Governor Pat McGrory.
The Labuan International Business and Finance Center reported the highest number of license approvals in the last five years in 2012, according to an annual report issued by the Labuan Financial Services Authority.
Captive International spoke to founding member and 20-year captive veteran Michael Mead about the newest captive domicile in the Union.
Jeff Kenneson has joined the firm as senior vice president— client development.
The Cook Islands, comprised of 15 small islands in the South Pacific, has become the third country in the region to pass captive insurance legislation.