News
Analysis
Alera Group, the Illinois-based employee benefits, property and casualty, retirement services and wealth management firm, has acquired Sylvia Group, which provides insurance, employee benefits and financial planning advice. 14 January 2020
Analysis
The State of Vermont licensed 22 new captive insurance companies in 2019, according to data released by the Vermont Department of Economic Development, and expects more activity to come. 14 January 2020
USA analysis
As the equity bull market continues to roll on, headlines and broad-market investors focus on returns, but risk management should be their principal concern. While it is easy to be tempted by the potential for higher returns that comes with higher risk securities, higher quality credits reduce portfolio volatility, say Brian Allen, Bryan Johanson and Jason Pettner at C.S. McKee. 14 January 2020
Analysis
eMaxx’s captives programmes have delivered a 46 percent reduction in frequency and significant impact in the severity of claim outcomes, one year after the energy captive programs were created, the group has said. 13 January 2020
USA analysis
When a company changes hands there are often significant effects on the underlying business. Employees can be made redundant and departments merged, and the fate of the company’s insurance and captive programmes may also be called into question, but captive managers can protect their interests, says Jeremy Huish of Business Transition Advisors. 13 January 2020
Analysis
Marsh has appointed Sarah Stephens as head of cyber, international, within Marsh JLT Specialty. 10 January 2020
Accounting & tax analysis
STICO, the risk retention group for the US storage tank industry, was a huge success in its early years, providing members with insurance coverage that the commercial market was unwilling or unable to provide. In recent years life has been more challenging, as commercial providers have attempted to win back its members as customers, but now it is fighting back, says STICO’s Colin Donovan. 10 January 2020
Analysis
Moody’s has reached a settlement with New York-based law firm Kirby McInerney after it was accused of underpaying New York State and New York City business taxes between 2002 and 2014. Moody’s is alleged to have mischaracterised its income as premiums to its captive, Moody’s Assurance Company (MAC). 9 January 2020
Analysis
The Bermuda Monetary Authority has named Craig Swan as its deputy chief executive officer, a position it created as it prepares for the departure of its executive chairman, Jeremy Cox, in 2021. 9 January 2020
Accounting & tax analysis
Establishing a captive programme can seem a daunting prospect, but there are many reasons for companies to make the effort. Steven Lorady of Carr, Riggs & Ingram discusses three of them. 9 January 2020
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