Mercer, a consulting firm owned by Marsh & McLennan Companies (MMC), has appointed Bala Viswanathan as chief operating officer, effective upon the closing of the Marsh-JLT deal.
Insurance programme provider Energi has appointed Michael Windstein as chief underwriting officer.
Ratings agency AM Best has affirmed the financial strength rating of B++ (Good) of AES Global Insurance Company (AGIC), the Vermont-based single-parent captive of power company AES Corp.
Berkley Accident and Health, a subsidiary of WR Berkley, has appointed Brad Nieland as president and CEO
Bermuda-based pension risk transfer provider Athene has agreed a pension plan termination transaction with US pharmaceutical company Bristol-Myers Squibb.
The European Securities and Markets Authority (ESMA) has registered AM Best as credit rating agency so it can continue to provide ratings after Brexit through its new Amsterdam-based subsidiary.
The Illinois General Assembly has voted to override the governor’s amendatory veto of SB 1737, a bill that would overhaul the state’s captive insurance laws.
The group captive sector in the Cayman Islands is growing, as more middle market companies leave the traditional insurance market in favour of these structures, as highlighted by Erin Brosnihan, chair of the Insurance Managers Association of Cayman (IMAC), speaking at the Cayman Captive Forum 2018.
Specialty and commercial insurer Crum & Forster has set up a captive facility in the Cayman Islands through its health division.
The Bermuda captives market is open to innovative new areas of captive insurance, including potentially cannabis-related companies, a panel at a conference in London has heard.