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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

Europe, UK24-08-2018

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

North America21-08-2018

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

North America20-08-2018

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

North America20-08-2018Insurance

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

Canada, North America20-08-2018

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

EMEA, Europe, Malta16-08-2018Insurance

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

Cayman Islands, North America, United States15-08-2018Insurance

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

Europe, Global13-08-2018Insurance

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.

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