Vermont’s state legislature has signed into law new captive legislation, amending the reciprocal insurer section of its captive law and creating a new dormant status for captives.
Sedgwick, a leader in technology-enabled claims and productivity management solutions for the insurance sector, has promoted Jason Landrum to the position of chief information officer.
The Texas Department of Insurance has welcomed one new captive and two redomesticated captives to the state as Texas opens its doors to the captive concept.
R&Q has received by way of novation all contracts underwritten by one of the cells SEG Insurance, which will now be moved into the company’s Bermuda-based rent-a-captive R&Q Quest SAC Limited.
AM Best has affirmed the A (Excellent) financial rating of Bermuda-based Transmonde Services Insurance Company, citing strong operating performance and excellent risk-adjusted capitalisation.
JLT has promoted Steve Arrowsmith and Kilian Whelan to lead JLT Insurance Management’s global operations.
Connecticut’s insurance industry is watching the progress of Senate Bill 188 with interest, in anticipation of an update of the state’s captive laws.
The proliferation of captives and captive domiciles is making the domestication decision an increasingly tough one. Parents need to weigh their decision increasingly carefully.
Marsh in Guernsey is celebrating 40 years of captive management operations on the Island by launching ‘Guernsey 40:40’, with employees taking part in 40 charitable events.
Risk Reinsurance, the captive of Transpower New Zealand, the state-owned operator of the country’s electricity grid, has had its financial strength rating downgraded from A+ to A by AM Best.