News
USA analysis
When a company changes hands there are often significant effects on the underlying business. Employees can be made redundant and departments merged, and the fate of the company’s insurance and captive programmes may also be called into question, but captive managers can protect their interests, says Jeremy Huish of Business Transition Advisors. 13 January 2020
Analysis
Marsh has appointed Sarah Stephens as head of cyber, international, within Marsh JLT Specialty. 10 January 2020
Accounting & tax analysis
STICO, the risk retention group for the US storage tank industry, was a huge success in its early years, providing members with insurance coverage that the commercial market was unwilling or unable to provide. In recent years life has been more challenging, as commercial providers have attempted to win back its members as customers, but now it is fighting back, says STICO’s Colin Donovan. 10 January 2020
Analysis
Moody’s has reached a settlement with New York-based law firm Kirby McInerney after it was accused of underpaying New York State and New York City business taxes between 2002 and 2014. Moody’s is alleged to have mischaracterised its income as premiums to its captive, Moody’s Assurance Company (MAC). 9 January 2020
Analysis
The Bermuda Monetary Authority has named Craig Swan as its deputy chief executive officer, a position it created as it prepares for the departure of its executive chairman, Jeremy Cox, in 2021. 9 January 2020
Accounting & tax analysis
Establishing a captive programme can seem a daunting prospect, but there are many reasons for companies to make the effort. Steven Lorady of Carr, Riggs & Ingram discusses three of them. 9 January 2020
Accounting & tax analysis
Trade and monetary policy have dominated the financial headlines in 2019. In 2020 the Federal Reserve is expected to cut rates, but some say markets are pricing in too much monetary easing, says Andrew Wang at Runnymede Capital Management. 8 January 2020
Analysis
Artex Risk Solutions has appointed Peter Child as its head of its European operations, with oversight of Guernsey, Malta, Gibraltar and London offices. 8 January 2020
Analysis
Green Mountain Sponsored Captive Insurance Company has launched a group captive profit center program for the rented property sector. 7 January 2020
Analysis
Mike Kreidler, the Insurance Commissioner for Washington State, has ordered two captives, Olympic Casualty Insurance and ASA Assurance, to stop writing insurance in the state for their parent companies, Starbucks and Alaska Air Group. 6 January 2020
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