News
Bermuda analysis
The Bermuda Monetary Authority has instructed captives and other re/insurers domiciled in Bermuda to continue holding virtual board meetings for now, if arranging physical board meetings is problematic. 4 September 2020
Executive Appointments
Rebecca Hale has joined Strategic Risk Solutions (SRS) as regional manager for the mid-Atlantic, with responsibilities for captive management operations in DC, Delaware and New Jersey. 4 September 2020
New Captive Models
Global Parametrics, a provider of parametric protection against climate risks and natural disasters, has led the renewal of the $1.9 million Mexican Reef Protection Programme, alongside Grupo Financiero Banorte and Hannover Re. 4 September 2020
Bermuda analysis
Bermuda’s Economic Substance legislation has now come into force. Strategic Risk Solutions’ Richard Daley outlines what captives boards should be thinking about to ensure they remain compliant. 4 September 2020
Asset management analysis
Alan Quilter, Randall & Quilter’s chief executive, has sold his interest in 250,000 ordinary shares in the company. 3 September 2020
Actuarial & underwriting
RT Specialty has hired Mason Johnston as president of a new office in Birmingham, Alabama. 2 September 2020
article
Susan Molineux and Fred Eslami, a director and associate director, respectively, at AM Best, will attend the 2020 Bermuda Captive Conference, while AM Best is promoting the event as a bronze sponsor. 2 September 2020
Law & regulation
The Bermuda Monetary Authority (BMA) has named Gerald Gakundi as its new director of supervision for insurance, promoting him from his former role of deputy director of the group. 2 September 2020
Actuarial & underwriting
DARAG has concluded a novation agreement with an unnamed Cayman reinsurer to provide finality for its US liability books, in a deal valued in excess of $40 million. 1 September 2020
IT & claims management analysis
Captive insurers participate in the largest and most complex multinational insurance programmes, but often lack the operational resources and technology typically found at commercial insurers to support compliance and programme management, says Daniela Dinkova at Sovos. 28 August 2020
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