EIOPA: coordination needed over low interest rate environment
The EIOPA has highlighted the importance of cooperation between national supervisory authorities in response to the sustained low interest rate environment.
VCIA President optimistic about NRRA captive exclusion
Captive International spoke to Richard S. Smith, president of the Vermont Captive Insurance Association about the ongoing struggle to exclude captives from the NRRA.
South Dakota captive bill will increase domicile’s ‘flexibility’
The South Dakota Senate has passed a bill hoped to strengthen the state’s captive insurance industry.
Sonigo wins lifetime achievement award
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 announces new CEO and COO
SPARTA Insurance Holdings has announced Ralph Jones as the company’s new CEO and Brian First as president and chief operating officer.
Hong Kong promises captive-friendly legislation
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.
Interpretation of the NRRA will likely be unpredictable
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 appointed CEO of Q-Re
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.
Micronesia-domiciled Marble Re assigned strong rating
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 deputy chairman to step down
Willis Group has announced that its deputy chairman, Martin Sullivan will be leaving the firm in May to pursue other interests.
