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The number of captive insurance companies domiciled in the State of Arizona increased by 7 percent in 2017, bringing the total to 121. 8 January 2018
Analysis
CLARA Analytics, an artificial intelligence (AI) and data science company focused on the P&C and disability insurance industries, aims to reduce the cost of claims with AI-based solutions by reducing claims leakage and frictional costs for both insurance companies and self-insured corporations. 5 January 2018
Analysis
RIMS, the risk management society, has appointed Robert Cartwright Jr to lead the society as president for the 2018 term, effective January 1. 5 January 2018
Analysis
The University of Vermont (UVM) Health Network has said that it will be moving its captive insurance company to Vermont from Bermuda. 5 January 2018
EMEA analysis
Neon has created what it describes as the first insurance-linked securities (ILS) vehicle to be formed in the UK, as well as completing a $72 million collateralised quota share reinsurance transaction that will underwrite a portion of its syndicate’s business. 3 January 2018
USA analysis
As the threat from cyber crime becomes more complex and the general insurance industry struggles to keep pace, captive insurers can come into their own, writes Matthew Queen, general counsel and chief compliance officer, Venture Captive Management. 2 January 2018
Bermuda analysis
Old Mutual has sold Constantia Insurance Company (Guernsey), a captive company currently in run-off, to Bermuda-based Randall & Quilter Investment Holdings (R&Q) for £1.5 million. 2 January 2018
Asia analysis
The Insurance Regulatory Development Authority of India (IRDAI) has issued enabling regulations for undertaking offshore insurance business in Gujarat International Finance Tec-City (GIFT), India’s only operational International Financial Services Centre (IFSC). 2 January 2018
Asia-Pacific analysis
Labuan International Business and Financial Centre (Labuan IBFC) has appointed Farah Jaafar Crossby as CEO, effective from January 1, 2018, where she will take helm of the midshore jurisdiction’s promotion and marketing arm. 2 January 2018
Cayman analysis
Erin Brosnihan, new incoming chair of the Insurance Managers Association of Cayman (IMAC) has paid tribute to Linda Haddleton, the body’s former chair, who passed away last month. 22 December 2017
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