News

Analysis

Labuan licenses 4 new captives, beats 2017 figures

Labuan Financial Services Authority (Labuan FSA) has approved four captive licenses in the first half of 2018 - the same level of growth as the entire financial year of 2017.   1 August 2018

Analysis

DARAG secures €260 million in funding for growth plans

Malta-based European legacy acquirer DARAG has secured an equity funding of up to €260 million to support growth plans for the business.   30 July 2018

Analysis

A new breed of captives

US tax reform provisions have created a substantial tax burden for US insurers conducting business in offshore jurisdictions. Vermont has stepped in with new captive legislation that aims to provide a more favourable onshore alternative, Sandy Bigglestone, director of captive insurance, Vermont Department of Financial Regulation, tells Captive International.   30 July 2018

Analysis

Sweetening the deal? A captive’s value in the context of M&A

Captives can provide value to their affiliated groups and be an intrinsic part of business owners’ exit strategy calculus—or just as easily a burden, says Matthew Queen of Venture Captive Management.   30 July 2018

Analysis

Crumbling Foundations captive board revealed amid pyrrhotite crisis

Incorporators of captive insurer Connecticut Foundation Solutions Indemnity Company (CFSIC) have selected nine board members to help address the crumbling concrete foundations crisis affecting Connecticut homeowners.   30 July 2018

Analysis

AM Best rates BP’s Vermont and Guernsey captives 'Excellent'

Ratings agency AM Best has affirmed the 'Excellent' financial strength ratings of Vermont-based Saturn Insurance (A) and Guernsey-based Jupiter Insurance (A-), both captive insurance subsidiaries of oil and gas company BP.   30 July 2018

Analysis

Artex names North America captive director

Artex Risk Solutions has promoted Michelle Bittick to the role of captive director, North America, based in Rolling Meadows, Illinois.   30 July 2018

Analysis

Assurance Agency and Michael Maglaras & Company form Vermont PCC

Assurance Agency and Connecticut-based captive consulting firm Michael Maglaras have formed a programme designed to meet the insurance and risk management needs of the senior care industry.   27 July 2018

Analysis

HSBC launches US Treasury fund targeted at captive, reinsurance and ILS investors

HSBC Global Asset Management (Bermuda), manager of HSBC Corporate Money Funds (HCMF), has introduced its first offshore US Treasury fund domiciled in Bermuda, targeted at institutional investors from the re/insurance, captive and ILS market locally.   25 July 2018

Analysis

Guernsey introduces ILS structure combining fund and insurance element

A new insurance-linked securities structure is being devised in Guernsey for conducting both the fund and insurance element of business.   24 July 2018

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