News

Accounting & tax analysis

What captive managers need to know, and do, now

The FSAB’s ASU 2016-01 is now in effect. This will have a significant impact on the way any company, including most captive insurance companies, which maintains its accounting records in accordance with GAAP, will be required to comply, says Leon Rives of Rives and Associates.   22 July 2019

Accounting & tax analysis

831(b) ground rules emerge post Syzygy

Syzygy Insurance v Commissioner may paint a negative picture of the industry, but also provides some helpful guidance on how to structure small captives, says David Kirkup, chief operating officer at Captive Alternatives.   28 June 2019

Accounting & tax analysis

Pinnacle names new consulting actuary

Pinnacle Actuarial Resources has promoted Nicholas Gurgone to consulting actuary.   20 June 2019

Accounting & tax analysis

Captives used to dodge primary rate hikes by accessing reinsurers direct

Many large companies are looking to better leverage their captives to avoid “unbudgeted” rate hikes on their traditional insurance programmes, John English, CEO, captive and insurance management, Aon, told Captive International.   13 June 2019

Accounting & tax analysis

Companies use analytics to dodge hardening rates by leveraging captives

A hardening market has prompted many companies to explore ways of leveraging their captive to help dodge or at least offset some of the rate increases, according to Jason Flaxbeard, executive managing director, captive management and consulting, Beecher Carlson.   12 June 2019

Accounting & tax analysis

Captive premium growth for cyber risk up 263%

Captive premium growth for cyber risk has accelerated by 263 percent in the past year, according to Aon.   11 June 2019

Accounting & tax analysis

Pilot v Commissioner: key questions raised and left unanswered

Just 10 days before the scheduled trial in the US Tax Court, the taxpayers conceded the remaining issues in Pilot Series of Fortress Insurance et al v Commissioner. The pretrial pleadings highlighted many of the key questions that remain open in litigation over the tax treatment of captive insurance transactions. Those questions—and the parties’ efforts to answer them—provide a roadmap of what to expect as additional cases move toward trial. Jenny Johnson Ware, founding partner of tax litigation boutique Johnson Moore, analyses those key questions and what we can learn from them—despite the fact that the Tax Court will not be providing any answers.   7 June 2019

Accounting & tax analysis

IRS intended to use undercover tapes in Artex microcaptive case

The Internal Revenue Service (IRS) had planned to use tape recordings of an undercover agent looking to form an 831(b) captive with Tribeca Strategic Advisors - now part of Artex Risk Solutions - in order to support its argument that a captive in a recent lawsuit lacked economic substance.   3 June 2019

Accounting & tax analysis

The path to good corporate governance

The failure of a captive can often be traced to a breakdown in quality corporate governance. Ben Whitehouse, senior counsel at Butler Snow, outlines the important attributes of good captive governance.   31 May 2019

Accounting & tax analysis

Domiciles: business friendly or tax focused? How to prepare your captive

Could high-profile settlements with the State of Washington lead to more captive domiciles following a similar path? Or will they adopt a more pro-business stance, like North Carolina? Pete Kranz, executive managing director and captive practice leader of Beecher Carlson, provides some key considerations on where to domicile a captive.   15 May 2019

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