The EIOPA has highlighted the importance of cooperation between national supervisory authorities in response to the sustained low interest rate environment.
Captive International spoke to Richard S. Smith, president of the Vermont Captive Insurance Association about the ongoing struggle to exclude captives from the NRRA.
The South Dakota Senate has passed a bill hoped to strengthen the state’s captive insurance industry.
Pierre Sonigo, secretary general of the Federation of European Risk Management Associations (FERMA), has received the lifetime achievement award from the Institute of Risk Management.
SPARTA Insurance Holdings has announced Ralph Jones as the company’s new CEO and Brian First as president and chief operating officer.
Hong Kong financial secretary, John Tsang Chun-wah announced that his office will seek to establish an independent insurance authority and pass more captive-friendly tax legislation.
Anderson Kill & Olick released a whitepaper arguing that the NRRA was probably not intended to apply to captives— but that might not matter when it comes to enforcing the legislation.
Gunther Saacke has been appointed Q-Re’s new CEO. Q-Re, a subsidiary of the Qatar Insurance Company (QIC), is hoped to become one the world’s top multi-line reinsurers under Saacke’s lead.
Marble Re, a single parent captive of Japan’s Marubeni Corporation domiciled in Micronesia, has been assigned a financial strength rating of A- (Excellent) and issuer credit rating of “a-” by AM Best. The outlook assigned to both ratings is stable.
Willis Group has announced that its deputy chairman, Martin Sullivan will be leaving the firm in May to pursue other interests.