The Delaware Department of Insurance reports a strong showing in 2012, the best year for captive growth since the state adopted captive law in 1988.
The Bermuda Monetary Authority (BMA) confirmed this week that it would not apply Solvency II to the Island’s captive sector.
KPMG expressed concern this week that the latest European Insurance and Occupational Pensions Authority (EIOPA) survey in the run up to Solvency II implementation could cause further delays.
Bermuda’s new One Bermuda Alliance (OBA) government has indicated that it intends to end work permit limits for non-Bermudian workers.
The Cayman Islands licensed 52 new captives during 2012, with a further 15 expected to receive approval this year. Formation numbers are a 58 percent improvement on those in 2011.
Entering the Latin American market requires close attention to the particular nuances of the region says Simon Owen, principal of Folio Insurance Management and Hyperion Risk Solutions.
Speaking at Dakota’s recent State of the State address, Dakota Dunes Senator, Dan Lederman said that active steps were being taken by the state to make its captive sector more competitive.
The Montana Captive Insurance Association has indicated that Montana licensed 34 new captives in 2012, a 25 percent increase on 2011 numbers. 2012 additions bring the number of Montana captives to 114.
The Crusader International Group of Companies and its US affiliate, Lionheart Insurance Group announced on Monday that they would rebrand the combined entity under the Advantage Group of Companies brand.
Speaking on the occasion of the Vermont Captive Insurance Division Day, Vermont governor, Peter Shumlin indicated that 32 new captive licenses had been issued in 2012.