News
Analysis
The Managing General Agent’s Association (MGAA) has been exploring opportunities to develop the managing general agents (MGAs) sector in Guernsey, following talks between managing director Peter Staddon and MGAA found David Coupe, and the Guernsey International Insurance Association (GIIA). 9 April 2019
Analysis
BevCap Management, a captive insurance management company based in Texas, has appointed Curtis Hoppe as claims and risk management executive. 8 April 2019
Analysis
Guernsey has satisfied the much-debated OECD BEPS substance requirements for captives operating there. Industry veteran and retired principal of Towers Watson, Hugh Rosenbaum, shares his views. 8 April 2019
Analysis
Ratings agency AM Best has affirmed the financial strength rating of A (Excellent) of Blue Whale Re, the captive insurer for pharmaceutical company Pfizer. 5 April 2019
Analysis
Energi, a provider of alternative and captive insurance solutions in the US and Canada, has appointed former Oklahoma insurance commissioner John Doak and former North Carolina commissioner Wayne Goodwin to its board of directors. 4 April 2019
Analysis
Cypress Insurance Company, the captive insurer of Microsoft Corporation, has been unsuccessful in its attempts to recoup $175m in losses relating to a fire at the SK Hynix manufacturing complex in Wuxi, China. The fire suspended the production of memory chips, which Microsoft had alleged impacted the 2013 launch of its video gaming console, the Xbox One. 4 April 2019
Analysis
Marsh & McLennan Companies (MMC) has completed its $5.6 billion acquisition of Jardine Lloyd Thompson. 1 April 2019
Analysis
The Central Bank of Ireland has granted regulatory to approval to Randall & Quilter Investment Holdings' planned acquisition of Western Captive Insurance Company (WCIC), the Irish-domiciled captive of construction and engineering company Coffey Group. 1 April 2019
Analysis
Carey Olsen partner Christopher Anderson, with the support of the Guernsey Financial Services Commission, has created a new hybrid ILS vehicle - a protected or incorporated cell company that is both a licensed insurance company and a regulated investment fund. 1 April 2019
Accounting & tax analysis
Leadville Insurance Company, the Vermont-based captive insurance subsidiary of US department store chain Macy’s, may be liable for $23.8 million in unpaid corporate income taxes to the state of Maryland, a recent court opinion has shown. 29 March 2019
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