News
Cayman analysis
This week the Cayman Islands Legislative Assembly passed an amendment to allow the registration of portfolio insurance companies (PICs) within segregated portfolio company insurers (SPCs). 28 March 2013
Cayman analysis
On 25 March 2013 the Insurance (Amendment) Law (the “Amendment Law”) was enacted to allow Cayman Islands segregated portfolio insurers (“SPC insurers”) to incorporate their cells for the first time. 28 March 2013
Analysis
EIOPA has signed an operational Memorandum of Understanding with the World Bank agreeing to collaborate on the development of the global insurance sector. 21 March 2013
Analysis
The Caribbean Catastrophe Risk Insurance Facility was honoured as the winner of the CICA 2013 Outstanding Captive Award. 15 March 2013
Law & regulation
RAM Re, a Cayman-domiciled segregated portfolio company structured and managed by Folio Insurance Management, has been assigned a financial strength rating of A-(Excellent) and an issuer credit rating of “a-“ by AM Best. 15 March 2013
Law & regulation
Scott Kipper, insurance commissioner of Nevada, has announced an expedited approval process for single parent and 831b captive insurance companies. 14 March 2013
Law & regulation
Bahamian financial services minister, Ryan Pinder announced his ministry would launch a strategy to increase the Bahamas’ presence in the captive and international insurance industry. 13 March 2013
Analysis
Captive International spoke to Richard S. Smith, president of the Vermont Captive Insurance Association about the ongoing struggle to exclude captives from the NRRA. 8 March 2013
Law & regulation
The South Dakota Senate has passed a bill hoped to strengthen the state’s captive insurance industry. 7 March 2013
Law & regulation
Hong Kong financial secretary, John Tsang Chun-wah announced that his office will seek to establish an independent insurance authority and pass more captive-friendly tax legislation. 4 March 2013
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