News

Law & regulation

North Carolina sets aside day for captive owners at annual conference

North Carolina will kick off its annual conference in May with a day dedicated exclusively to captive owners.   27 February 2020

Law & regulation

Cayman added to EU’s list of non-cooperative jurisdictions for missing CIV deadline

The European Union has added Cayman to its list of non-cooperative jurisdictions for tax purposes after it determined that Cayman failed to implement measures relating to economic substance in the area of collective investment vehicles within the agreed timetable.   24 February 2020

Law & regulation

Tennessee licenses 200th captive

The Tennessee Department of Commerce & Insurance has licensed its 200th captive insurance company.   20 February 2020

Law & regulation

IRS settlement claims are misleading: SIIA

The Self-Insurance Institute of America (SIIA) has hit out at Internal Revenue Service, accusing it of misleading people in its recent announcement about rooting out tax evasion in the micro captive sector.   14 February 2020

Law & regulation

IRS steps up fight against abusive micro-captive transactions

The IRS is establishing 12 new examination teams as it steps up its efforts to pursue abusive micro-captive insurance transactions.   3 February 2020

Law & regulation

CIC files lawsuit against SRM Group and its owner

CIC Services has filed a lawsuit against a former client, SRM Group, as well as its owner, Suresh Prabhu, and two related captives CIC formerly managed.   31 January 2020

Law & regulation

CIC petitions US Supreme Court over IRS Notice 2016-66

CIC Services, a Tennessee-based captive manager, has petitioned the Supreme Court of the United States to hear its lawsuit against the IRS regarding IRS Notice 2016-66.   23 January 2020

Analysis

Fiji considers allowing captive insurance frameworks

Fiji is considering allowing captive insurance frameworks to operate in its market, according to Ariff Ali, the governor of the Reserve Bank of Fiji (RBF).   20 January 2020

Law & regulation

Amice calls for proportionate application of Solvency II for smaller insurers

The Association of Mutual Insurers and Insurance Cooperatives in Europe (Amice) has called for more effective use of proportionality in the application of Solvency II rules.   20 January 2020

Law & regulation

Bahamas-based captive banned from doing business in Washington

The insurance commissioner for the State of Washington has issued a cease and desist order to 2A Insurance, a captive insurance company, preventing it from engaging in any insurance-related activities in the state.   26 November 2019

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