Fleming Re Holdings will acquire Sinclair Insurance Company, a Bermuda-based captive that was incorporated in 1985 and has provided workers’ compensation, general and products liability and commercial auto lines of business.
The Bermuda Monetary Authority registered two new single parent captives in September.
John Ludlow will step down as chief executive of Airmic, the association that represents UK risk and insurance professionals.
AXA XL has appointed Owen Williams as global programmes and captives director for the UK and Lloyd’s market.
The Cayman Islands has been removed from the European Union’s blacklist and is now deemed a cooperative jurisdiction.
ARX Insurance of Ukraine has become the latest insurer to join the MAXIS Global Benefits Network (MAXIS GBN).
AM Best has assigned a financial strength rating of B++ (Good) to Kot Insurance Company, the captive reinsurer for Petroleos Mexicanos (PEMEX), the Mexican state-owned oil and gas company.
The Internal Revenue Service is turning up the pressure on micro-captive insurance schemes that it deems abusive, warning those that do not settle now are likely to incur additional penalties later.
Guernsey is seeing “massive” interest in captives but this is not yet translating into new launches, according to Peter Child, head of European operations at Artex and managing director of the Guernsey operation.
The Captive Insurance Companies Association (CICA) has revealed the case study topics for its 2020-2021 essay contest.