News
IT & claims management analysis
RYSKEX, the Berlin-based start-up offering a blockchain-based ecosystem for alternative risk transfer and other innovative insurance solutions, will participate in the fifth Lloyd’s Lab event, which focuses on identifying ways to manage “uninsurable” risks. 9 September 2020
Actuarial & underwriting
Randall & Quilter Investment Holdings has named Patrick Rastiello as chief executive of its newly established US excess and surplus (E&S) programme management business, Accredited Specialty Insurance Company (ASIC). 9 September 2020
article
Nexus Group, the independent specialty managing general agent, has reorganised its management team following the recent launch of Xenia Broking Group, as it looks to establish the brokerage unit as a separate business. 8 September 2020
Analysis
The run-off and legacy business is well established in the commercial insurance market, but remains a relatively niche area when it comes to captives. But that is changing, as more captives recognise the benefits of handing over old portfolios to free up capital to write new business. Captive International investigates. 8 September 2020
USA analysis
The Captive International US Awards has received a great response so far, with voting extremely tight in a number of categories. 7 September 2020
article
Kelly Castriotta has joined Markel Corporation as senior director of global cyber underwriting, becoming the lead underwriting project manager for Markel’s US non-affirmative cyber project. 7 September 2020
Accounting & tax analysis
The Minnesota Department of Revenue (MDR) has proposed changes to Form IG255 that will mean individuals or businesses buying insurance directly from captives or other non-admitted insurers must report their non-admitted direct procured insurance premium tax. 4 September 2020
Bermuda analysis
The Bermuda Monetary Authority has instructed captives and other re/insurers domiciled in Bermuda to continue holding virtual board meetings for now, if arranging physical board meetings is problematic. 4 September 2020
Executive Appointments
Rebecca Hale has joined Strategic Risk Solutions (SRS) as regional manager for the mid-Atlantic, with responsibilities for captive management operations in DC, Delaware and New Jersey. 4 September 2020
New Captive Models
Global Parametrics, a provider of parametric protection against climate risks and natural disasters, has led the renewal of the $1.9 million Mexican Reef Protection Programme, alongside Grupo Financiero Banorte and Hannover Re. 4 September 2020
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