News

Analysis

Aon promotes Bermuda MD Seth to global captives and ILS role

Aon has appointed Anup Seth as global leader, underwriting solutions, of its Captive and Insurance Management team, based in Bermuda.   11 December 2018

Accounting & tax analysis

Artex and Arthur J Gallagher accused of selling and managing illegal tax-shelter captives

An Arizona-based lawsuit is seeking damages from a group of defendants including Artex Risk Solutions, Arthur J Gallagher among other captive service providers for conspiring to design, promote, sell, implement and manage illegal tax-advantaged captive insurance strategies using unlawful attempted 831(b) elections.   10 December 2018

Analysis

JLT employee benefits exec joins Mercer as COO

Mercer, a consulting firm owned by Marsh & McLennan Companies (MMC), has appointed Bala Viswanathan as chief operating officer, effective upon the closing of the Marsh-JLT deal.   10 December 2018

Analysis

Energi appoints CUO to support Vermont captive

Insurance programme provider Energi has appointed Michael Windstein as chief underwriting officer.   10 December 2018

Analysis

AES Vermont captive gets Good rating

Ratings agency AM Best has affirmed the financial strength rating of B++ (Good) of AES Global Insurance Company (AGIC), the Vermont-based single-parent captive of power company AES Corp.   6 December 2018

Analysis

Sun Life VP joins Berkley Accident and Health as CEO

Berkley Accident and Health, a subsidiary of WR Berkley, has appointed Brad Nieland as president and CEO   5 December 2018

Analysis

Bristol-Myers Squibb to transfer $3.8bn in pension liabilities to Athene

Bermuda-based pension risk transfer provider Athene has agreed a pension plan termination transaction with US pharmaceutical company Bristol-Myers Squibb.   5 December 2018

Analysis

ESMA registers AM Best EU subsidiary for post-Brexit ratings

The European Securities and Markets Authority (ESMA) has registered AM Best as credit rating agency so it can continue to provide ratings after Brexit through its new Amsterdam-based subsidiary.   4 December 2018

Analysis

Illinois overrides veto of captive reform bill

The Illinois General Assembly has voted to override the governor’s amendatory veto of SB 1737, a bill that would overhaul the state’s captive insurance laws.   3 December 2018

Accounting & tax analysis

Grey skies for sunny Cayman?

The Cayman Islands has been placed on the EU’s ‘grey list’ of cooperative jurisdictions—but what does this mean for the domicile, and by extension the captive insurance sector? Cayman Captive reports.   28 November 2018

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