German construction captives get Excellent ratings
Ratings agency AM Best has affirmed the financial strength rating of A- (Excellent) of Builders Re and Builders Direct, both Luxembourg-based subsidiaries of German construction company HOCHTIEF, owned by Actividades de Construcción y Servicios (ACS).
LIIBA proposes Brexit equivalence regime for brokers
Insurance intermediates do not have an equivalence framework in place to allow for business continuity after the UK leaves the European Union, wrote Roy White, chairman of the London & International Insurance Brokers’ Association (LIIBA), in a letter to UK prime minister Theresa May.
SRS establishes North Carolina office, hires regional manager
Strategic Risk Solutions (SRS) has opened a new office in the Charlotte, North Carolina area - the firm's first permanent presence in the state since it started managing captives there in 2014.
Three Nevada chambers of commerce to form AHP following new rules
Three Nevada-based chambers of commerce have partnered to form an association health plan (AHP), Clark County Health Plan Association, for their members.
DARAG names group CFO
Legacy acquirer has appointed James Halley, who most recently served as finance director of AEGIS London, as its group chief financial officer.
Captive owners should contact tax consultants after Microsoft case
Clients that have parent companies with headquarters or operating units in Washington state should consult their tax professionals following the settlement of the case involving Microsoft’s Arizona-based captive being issued a cease & desist letter, warns JLT Insurance Management (JLT IM).
Hub International introduces cannabis insurance solutions for US and Canada
Insurance brokerage Hub International has introduced cannabis insurance and risk services, an offering under its agribusiness and farm specialty practice, to provide medical and recreational cannabis producers, distributors and retailers protection and solutions to reduce risks within their operations.
R&Q announces MGA partnerships
Randall & Quilter Investment Holdings has announced that its wholly-owned European subsidiary R&Q Insurance (Malta) has signed three new program underwriting partnerships with European managing general agents (MGAs).
CIMA signs MOU with NAIC
The Cayman Islands Monetary Authority (CIMA) has signed a memorandum of understanding (MOU) with The National Association of Insurance Commissioners (NAIC).
AM Best affirms ratings of Lufthansa captive
AM Best has affirmed the financial strength rating of A (Excellent) and the long-term issuer credit rating of “a” of Delvag, the captive insurer for Lufthansa.
