News

Actuarial & underwriting

Africa Specialty Risks hires Way to develop bespoke Africa-specific pricing models

Africa Specialty Risks (ASR), the Pan-African focused reinsurance group, has appointed Peter Way as an actuary to focus on the development of in-house pricing models.   12 March 2021

Bermuda analysis

BMA authorises a multi owner captive in February

The Bermuda Monetary Authority (BMA) licensed Great Northern Assurance, a class two, multi owner captive, in February, as one of eight new re/insurance entities authorised in the month.   12 March 2021

New Captive Models

Fast resolution explains popularity of parametric products: Stonybrook Capital

Insureds are attracted to parametric products such as insurance loss warranties (ILW) because of their simplicity and because they offer faster resolution of payments, according to Joe Scheerer, principal and chief executive officer at Stonybrook Capital.   12 March 2021

Law & regulation

Washington state establishes framework requiring captives to pay premium taxes

The Washington State government has established a framework for registering and imposing premium tax on eligible captive insurance companies.   11 March 2021

Accounting & tax analysis

831(b)s dealt fresh blow as US tax court rules Caylor captive not insurance

The 831(b) or micro-captive industry has been dealt a fresh blow this week, with a US tax court ruling yet another micro-captive could not be considered insurance for Federal tax purposes.   11 March 2021

Actuarial & underwriting

US Coast Guard expands requirement for cyber coverage

The US Coast Guard has updated its guidance to marine inspectors and port state control officers on assessing cyber risk management in commercial vessels, expanding the range of vessels that must comply.   11 March 2021

Analysis

Why many corporates are turning to cell captives as an alternative to traditional single parent solutions: Barclays [video]

An interview with Hafi Ali, market director at Barclays.   11 March 2021

Actuarial & underwriting

Beazley launches SPAC-specific D&O coverage

Beazley has launched a directors’ and officers’ (D&O) product suite specifically for special purpose acquisition companies (SPACs).   10 March 2021

Actuarial & underwriting

DARAG signs its second deal with Norway’s Protector Forsikring

DARAG Group has signed a retrospective quota share reinsurance agreement with Protector Forsikring, a multinational general insurance company listed on the Oslo Stock Exchange.   10 March 2021

Actuarial & underwriting

Gallagher Re builds up its legacy capabilities with hire

Gallagher Re has named Andrew Rothseid as partner and head of legacy, a new role.   10 March 2021

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