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The State of Rhode Island has introduced amendments to its Voluntary Restructuring of Solvent Insurers Law and its Protected Cell Companies Act that should make run-off transactions easier to execute. 26 June 2018
Analysis
Marsh has agreed to acquire Houston-based independent broker Wortham Insurance, with transaction expected to close in the third quarter of 2018. 26 June 2018
Analysis
The Bermuda Business Development Agency (BDA) intends to hold more overseas multi-industry executive forums. 25 June 2018
Analysis
Ratings agency AM Best has affirmed the financial strength rating of A (Excellent) of Switzerland-based captive Solen Versicherungen AG (SVAG) and Texas-based captive Noble Assurance Company (Noble). 22 June 2018
Analysis
M&T Bank has appointed Kyle Samuel as senior vice president and president of M&T Insurance Agency, a provider of property/casualty, employee benefit and captive solutions. 20 June 2018
Accounting & tax analysis
In a decision that may place captive insurance companies under further scrutiny, the US Tax Court has ruled in favour of the IRS in the case of Reserve Mechanical Corp v Commissioner. 19 June 2018
Accounting & tax analysis
Tax reform is generally positive for US-domiciled captives and a mixed bag for offshore captives, however it has not affected any credit ratings, according to an AM Best briefing. 19 June 2018
Analysis
Employee Benefit Management Services (EBMS), a Montana-based third-party administrator of self-funded health plans, has appointed Alex Schott as chief financial officer and Matt Johnson as corporate counsel and vice president of legal. 18 June 2018
Analysis
Established companies in the captive insurance market are developing business models that incorporate cryptocurrency and blockchain. Tatjana Winter, head of BlockART institute, has the details. 18 June 2018
Analysis
The Captive Insurance Companies Association (CICA) has partnered with the International Center for Captive Insurance Education (ICCIE) to introduce a partner programme to support the career development and educational needs of captive professionals. 18 June 2018
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