AcurraPCC appoints Archipelago exec as principal officer

The board of Acurra, which provides protected cells for captive insurance, has hired Kanes Naidu Athinaidu as principal officer of AcurraPCC as part of plans to grow the business.

Athinaidu is currently group chief underwriter at The Archipelago Group - a role he will continue to hold in addition to his new position at AcurraPCC. He was previously chief technical officer for global business and underwriting and global technical services at The Archipelago Group.

He began his career at Corporate Risks Management Consultants Sdn Bhd before moving to Singapore to train further in insurance and investigation. He has worked for ACE Insurance and Agilent Risks, as well as working for maritime sector companies including Milestone Group in Europe and Sovereign Maritime Services.

As one of the pioneers of protected cell companies in Malaysia, AcurraPCC has also recently been given the go-ahead by the Labuan Financial Services Authority (FSA) to establish a captive cell (first party captives only) by notification and no longer require approval for each captive cell.

The company said this wider approach would allow cell captives to flourish in the Labuan International Business and Financial Centre (IBFC), helping its claim to be a premier captive insurance market for Asia.

Commenting on his appointment, Athinaidu said: “Captive insurance and reinsurance business is always an interesting value proposition. I envisage to embrace the paradigm shift in the market place, supported by the excellent framework from Labuan IBFC and governance by Labuan FSA.”