News
Analysis
The automotive, manufacturing and retail industry was responsible for the majority of new formations on Bermuda in 2017, according to the BMA Captive Report 2018. 3 January 2019
Analysis
Bermuda captives writing cyber risk experienced the greatest year-on-year percentage increase out of any line of business in the market in 2017, according to the BMA Captive Report 2018. 3 January 2019
Analysis
Against a backdrop of high-profile failures and closures of benefit schemes, captives have become an attractive alternative over the last few years, explains David Riley, risk consultant, and Frank Oldham, strategic consultant, at Robus Group. 1 January 2019
article
Captives that buy large amounts of reinsurance could be facing higher premiums in 2019 if a number of recent industry reports prove accurate. 21 December 2018
Law & regulation
The US state of Michigan has changed some of the reporting requirements that relate to captives in the state. One of the changes means that captives can now report using international financial reporting standards. 21 December 2018
article
AM Best has assigned a financial strength rating of B++ (Good) to Mid-Pacific Insurance Company (MPIC), a single parent captive insurer of Robert’s Hawaii Holdings (RHH), a company primarily engaged in providing transportation services (tours, transfers, and municipal and school bus services) in Hawaii. 21 December 2018
article
AM Best has affirmed a financial strength rating of A- (Excellent) of Nova Casiopea Re (NCRe), the captive reinsurer of Telefonica, a Spanish multinational broadband and telecommunications provider with operations in Europe, Asia, and North, Central and South America. 21 December 2018
Accounting & tax analysis
Captive managers and promoters including Gallagher and Artex have come under fire for allegedly conspiring to sell and manage illegal tax shelter captive insurance strategies. Matthew Queen, general counsel & chief compliance officer at Venture Captive Management, provides some insight into the lawsuit. 17 December 2018
article
Risk Retention Groups (RRGs) remain financially stable and continue to provide specialized coverage to their insureds in the third quarter of 2018, despite the economic and political uncertainty, according to a report by Douglas Powell, a senior financial analyst at Demotech. 17 December 2018
Analysis
Delaware has introduced a ‘speed to market’ approach to setting up captives with the introduction of its conditional licensing programme. Captive International spoke with Steve Kinion about this new legislation and other developments. 13 December 2018
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