News
Law & regulation
EXCLUSIVE: Captives could be a bigger part of the solution if regulatory rules get ironed out: Artex
The past five years has seen significant growth of the captive insurance industry and the next five years will likely continue this trend, Jeremy Huish, senior vice president, captive business development at Artex, North America, tells Captive International. 28 October 2016
Law & regulation
AM Best has revised the outlooks to negative from stable and affirmed the financial strength rating of B (Fair) of Golden Insurance Company, a risk retention group (Golden). Mitigating factors includes Golden’s profitable earnings in recent years and the addition of a more reputable captive manager. 25 October 2016
Cayman analysis
The Cayman Islands captive management industry enjoyed continued success in new captive formations between July 1 to September 30, 2016 with 10 new formations for the 3 month period according to the Insurance Managers Association of Cayman (IMAC). 25 October 2016
EMEA analysis
Only 5 percent of captive industry professionals who listened to the Captive Insurance Companies Association (CICA) webinar about the impact of BREXIT on the captive insurance market have captives in the European Union (EU) that directly write UK risk. 25 October 2016
Accounting & tax analysis
One solution to funding for property damage caused by hurricanes is a captive insurance company. It can be treated as a real insurance company for tax purposes and help a company to save for a stormy day, says Jeffrey Kenneson of R&Q Captive Management. 20 October 2016
Accounting & tax analysis
Delaware Insurance Commissioner Karen Weldin Stewart has issued a bulletin providing captive insurers guidance to make it easier to comply with the new requirements within the federal Protecting Americans from Tax Hikes (PATH) Act. 18 October 2016
Actuarial & underwriting
Cutts-Watson Consulting (CWC), a captive insurance advisory firm, has appointed Graham Powell as a consultant based in its Guernsey office, to strengthen its captive insurance offering. 17 October 2016
EMEA analysis
Hyundai Capital Services, the auto financing arm of Hyundai Motor Group, has received the European Central Bank’s (ECB) approval in September to establish Hyundai Capital Bank Europe (HCBE) that will then provide direct auto financing services such as insurance brokerage, installment financing and lease to consumers. 17 October 2016
IT & claims management analysis
AM Best has affirmed the Financial Strength Rating of A- (Excellent) of Casiopea Re, a captive reinsurer based in Luxembourg. The outlook of the ratings remains stable. 17 October 2016
Accounting & tax analysis
Shumaker, Loop & Kendrick, a law firm, has appointed David Slenn as its estate planning, business planning and tax attorney. 14 October 2016
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