News
Actuarial & underwriting
AM Best has assigned a financial strength rating of B++ (Good) to Kot Insurance Company, the captive reinsurer for Petroleos Mexicanos (PEMEX), the Mexican state-owned oil and gas company. 5 October 2020
Accounting & tax analysis
The Internal Revenue Service is turning up the pressure on micro-captive insurance schemes that it deems abusive, warning those that do not settle now are likely to incur additional penalties later. 2 October 2020
EMEA analysis
Guernsey is seeing “massive” interest in captives but this is not yet translating into new launches, according to Peter Child, head of European operations at Artex and managing director of the Guernsey operation. 1 October 2020
Executive Appointments
The Captive Insurance Companies Association (CICA) has revealed the case study topics for its 2020-2021 essay contest. 30 September 2020
Executive Appointments
Kent Sullivan has resigned as Texas Insurance Commissioner to return to the private sector. 30 September 2020
Executive Appointments
The International Center for Captive Insurance Education (ICCIE) has made some changes to the ICCIE CE Subscription programme and the ACI Alumni Network (AAN) to make the maintenance of the Associate in Captive Insurance (ACI) designation more convenient and affordable. 29 September 2020
Executive Appointments
The Self-Insurance Institute of America (SIIA) has opened registration for a virtual Mentor Connection Forum that is due to be held on November 18-19, 2020. 29 September 2020
Actuarial & underwriting
Bowring Marsh, Marsh’s international placement specialist, has hired Mark Simons as senior vice president on its financial and professional liability (FinPro) placement team. 28 September 2020
article
Brittany Nevins has joined Vermont’s Department of Economic Development as captive insurance economic development director. 28 September 2020
Asia analysis
AM Best has revised the outlook of Samsung Reinsurance (SRE) to negative from stable, noting the business, which is largely providing captive insurance to Samsung, remains sensitive to claims frequency, and to pressure on its combined ratio. 25 September 2020
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