JPMorgan captive gets ‘Excellent’ rating
Ratings agency AM Best has affirmed the financial strength rating of A (Excellent) of JPMorgan Chase’s single-parent captive, Park Assurance Company.
JLT shareholders approve $6.4bn merger with Marsh
Jardine Lloyd Thompson Group’s shareholders have approved the $6.4 billion acquisition deal of JLT by Marsh & McLennan Companies (MMC).
Former Munich Re exec and captive director joins Ensurance
Ensurance UK, a niche construction and engineering MGA based in the UK, has appointed Tim Cramphorn to its board as a non-executive director.
European captives stable in 2018: AM Best
European captive ratings have been stable through the past year, with most ratings affirmed and stable outlooks maintained, according to an AM Best report.
SOBC DARAG completes first US run-off acquisition
SOBC DARAG, a joint venture between US-based run-off specialist SOBC and European legacy acquirer DARAG, has closed its first US run-off deal with the acquisition of Florida-based Peachtree Casualty Insurance Company.
Cayman issues four captive licenses in Q3
The Cayman Islands Monetary Authority (CIMA) has issued licenses for four new captive insurance companies and one portfolio insurance company in the third quarter of 2018.
Davies Group acquires AML services provider Veriphy
Insurance service provider Davies Group has acquired Veriphy, a specialist KYC (know your customer) and AML (anti money laundering) compliance solutions SaaS (software as a service) business.
Lloyd’s Brussels to write fac, non-proportional XoL reinsurance
Specialist re/insurance market Lloyd’s aims to write facultative reinsurance and non-proportional excess of loss (XoL) treaty reinsurance on Lloyd’s Brussels paper from 1st January 2019 across all markets in the EEA.
AM Best gives Excellent ratings to Phillips 66 captives
Ratings agency AM Best has affirmed the financial strength rating of A (Excellent) of Vermont-based Spirit Insurance Company and Cayman-based Radius Insurance Company, the captive insurers of energy company Phillips 66.
Hawaii captive manager FiRMS appoints COO
First Insurance Company of Hawaii (FICOH) has appointed Kei Kobayashi to the role of vice president, along with the position of chief operating officer of First Risk Management Services (FiRMS), a FICOH subsidiary offering non-standard risk solutions and captive management services.
