The differentiation between onshore domiciles and offshore domiciles is shrinking, Vermont Captive Insurance Association president Richard Smith told Captive International in a discussion about domicile selection.
The Self-Insurance Institute of America (SIIA) sent a letter to California Senator Ed Hernandez voicing their official opposition to Bill SB 161.
A risk-neutral investment strategy, one that immunises captives against known and expected liabilities, has the potential to free up a third investment stream that captives can then put to work.
The captive sector is emerging as a viable solution to cyber risk. It will be in providing customised solutions to their parents that captives can truly add value.
A survey conducted by Marsh and RIMS has revealed that although senior executives and risk management professionals opinions on the role that risk management should play in strategic planning are “more aligned than ever” there is yet to be full strategic integration.
The Marsh annual benchmarking report for 2012 found that new captive owners are gravitating toward onshore domiciles in the US and the EU, although few existing captives are re-domesticating to onshore jurisdictions.
The latest Direct Taxation Arrangement (DTA) to be signed into law is between Guernsey and Hong Kong.
Following in the footsteps of its European counterpart Solvency II, the South African Solvency Assessment and Management (SAM) regime for insurers has been delayed.
Guernsey’s decision to opt out of Solvency II has helped to strengthen its global position in the captive industry, with the Island welcoming 72 licensees in 2011 and a further 97 in 2012, bringing total captives to 737 by the close of 2012.
Tennessee governor, Bill Haslam has signed new protected cell captive insurance legislation into law, lowering capital and surplus requirement and eliminating the requirement for a holding company.