Captive News

Global captive market updates, regulatory news and industry insights

80% of Hurricane Irma Losses in Florida Uninsured

According to recent CoreLogic statistics, following two hurricanes striking Florida, the wind and flooding caused by Hurricane Irma led to USD 65 billion in losses. Residential property losses are estimated at USD 38 billion, including storm surge, inland and flash flooding across five states: Florida, Alabama, Georgia, North Carolina and South Carolina.

2017-09-23

Author：Editorial Team
Japan Amends Long-Term Care Insurance Laws

On September 12, a report compiled by an expert panel established by the Japanese government recommended postponing the age at which elderly people may choose to start receiving pensions from the current maximum of 70 to 75. Japan's parliament also amended the Long-Term Care Insurance-related laws this year (long-term care refers to looking after vulnerable people who cannot take care of themselves, including elderly people who cannot live fully independently).

2017-09-20

Author：Editorial Team
Number of Captive Insurers in the Cayman Islands Declines Again in H1 2017

The Cayman Islands Monetary Authority has released insurance data for the first half of 2017. As of the end of June 2017, there were 701 captive insurers in the Cayman Islands, a decrease of 11 from the end of 2016. Of these, 327 were pure captives, 117 were group captives, and 145 were segregated portfolio companies (SPCs), with a total of 603 segregated portfolios established.

2017-09-10

Author：Editorial Team
Exclusive Interview by China Captive Network: Labuan, Malaysia Supports China's "Belt and Road" and Captive Development

On August 16, 2017, Mr. Danial Mah Abdullah, CEO of the Labuan International Business and Financial Centre, gave an exclusive interview to China Captive Network.

2017-09-08

Author：Editorial Team
US Insurers Use Drones to Assess Hurricane "Harvey" Claims

According to a Sina Tech report on September 1, US insurers plan to use dozens of drones to assess the damage caused by Hurricane "Harvey"—the first time such equipment has been used on a large scale for this purpose.

2017-09-01

Author：Editorial Team
Spanish Media: Drones May Be Used by Insurance Companies

Spanish media say that drone cameras can help accomplish all kinds of impossible tasks, such as searching for missing hikers in remote mountains, controlling borders, and counting crop yields. This technology is revolutionary for many industries, which are beginning to consider how to put drones to their own use—and insurance companies are among them.

2017-09-01

Author：Editorial Team
Insurance Industry Consortium to Unveil Codex 1 Blockchain Prototype

The news insurance brokers most need to pay attention to recently is that the insurance industry blockchain consortium B3i has unveiled its Codex 1 blockchain prototype. If the prototype succeeds, it will greatly improve reinsurers' efficiency while reducing their costs, enabling consumers to enjoy their services at affordable prices.

2017-08-31

Author：Editorial Team
Uber to Provide Free Insurance for Drivers in India

According to a Reuters report on August 30 Beijing time, global ride-hailing company Uber said on Tuesday that it will provide free insurance for its 450,000 drivers in India, covering death, disability or hospitalization expenses caused by traffic accidents.

2017-08-30

Author：Editorial Team
US Insurance Industry May Have to Bear USD 20 Billion in Claims for Hurricane "Harvey"

According to a Reuters report on August 29, US lawmakers are expected to pass a major aid package for victims of Hurricane "Harvey", but the specific details and amount of the aid plan remain unclear. Congress is currently waiting for the Trump administration to submit funding requirements.

2017-08-29

Author：Editorial Team
GIC of Singapore and Others to Acquire MassMutual Asia for HK$13.1 Billion

Yunfeng Financial, Hong Kong's rising fintech star, announced today that it will join Ant Financial, Singapore's GIC and other institutions in spending HK$13.1 billion to acquire MassMutual's Hong Kong and Macau businesses.

2017-08-18

Author：Editorial Team

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