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Draft legislation in South Africa that will outline the required governance and risk management arrangements for captive cell agreements, will lead to a reduction in existing cell owners, according to the law firm, Clyde & Co. 12 December 2019
Analysis
The Irish SME Association (ISME) is considering developing specialist group captives to tackle the rising cost, and declining availability, of insurance among its members. 12 December 2019
Analysis
Kovrr, a platform allowing re/insurers to predict, price, and manage their cyber risk, has hired Marco Lo Giudice as head of pricing models development, expanding its cyber risk modelling team. 11 December 2019
Analysis
Risk Strategies has acquired the two subsidiaries of Gowrie Holdings: Gowrie Group (Gowrie), a full-service national specialty retail insurance brokerage; and Maritime Program Group (MPG), a marine-focused managing general agent (MGA). 11 December 2019
Analysis
Dominic Wheatley, CEO of Guernsey Finance, will leave his role at the end of June 2020, after more than five years of service. 10 December 2019
Analysis
KPMG has hired Jereme Ramsay as senior manager, markets, focusing on business development and marketing in Bermuda. He will take up his post in February and will support its growth strategy, spending around 60 percent of his time working with Bermuda’s insurance industry, including its captives. 10 December 2019
Analysis
Captives should begin evaluating agreements that refer to the London Interbank Offered Rate (Libor) as soon as possible, according to Elyssa Nagle, senior manager at Johnson Lambert, to identify which ones may need to be modified. 10 December 2019
Analysis
Peruvian insurance provider Rimac (Rimac Seguros y Reaseguros), part of the Grupo Breca conglomerate, has become a member of Maxis Global Benefits Network (Maxis GBN). It now provides medical and life cover to Maxis GBN clients in Peru. 9 December 2019
Analysis
Significant obstacles are blocking insurers from engaging with the cannabis sector. A new generation of cannabis companies engaged in this business in Canada and other markets where it has been legalised should consider launching captives to manage their risk, according to Mark Allitt, managing director at KPMG in Bermuda. 2 December 2019
Analysis
Insureds should brace themselves for a double whammy of rising prices and declining availability of coverage in the traditional insurance markets, according to Vittorio Pozzo, captive advisor for Western Europe and Great Britain at Willis Towers Watson. 29 November 2019
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