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USA analysis
Tennessee-based captive insurance companies have given a $436 million boost to the state through direct and indirect spending from new jobs, investments and deposits, according to an annual survey given by the Tennessee Department of Commerce & Insurance’s (TDCI) Captive Insurance Section. 1 July 2016
Analysis
The representative body of Guernsey insurers and insurance managers, the Guernsey International Insurance Association (GIIA), has signed Memorandums of Understanding (MoU) with both the China Captive Alliance and the regional government of Kashgar. 29 June 2016
USA analysis
David Ige, the Governor of Hawaii, has commemorated the 30th anniversary of the establishment of Hawaii’s captive insurance industry. 28 June 2016
EMEA analysis
Guernsey, the largest captive domicile in Europe, is well placed to ensure there is minimal impact on its trading relationships and will put in place any required alternative trading agreements, according to Guernsey Finance, motional agency for the island’s finance industry. 27 June 2016
EMEA analysis
As a consequence of the UK leaving the European Union, Gibraltar could become more attractive for captives, according to law firm Hassans. Gibraltar insurers will mull relocating to EU but captives may benefit and insurers writing UK business not affected, the firm noted. 27 June 2016
USA analysis
Dennis Harwick, president of the Captive Insurance Companies Association (CICA), has revealed he will retire from his current position at the end of June, 2017. 24 June 2016
USA analysis
Julie McPeak, Tennessee Department of Commerce and Insurance commissioner, has been elected to serve as vice chair of the International Association of Insurance Supervisors’ (IAIS) executive committee. 23 June 2016
Cayman analysis
Rating agency AM Best has affirmed the financial strength rating of A (Excellent) and the issuer credit rating of “a” of Palms Insurance Company. 22 June 2016
USA analysis
Tennessee has recently enhanced its insurance legislation in a bid to augment its jurisdiction as a go-to domicile in the captive industry. 21 June 2016
Bermuda analysis
The Bermuda Captive Conference has added 16 new captives to the Bermuda captive hall of fame during its 2016 conference last week. 20 June 2016
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