Captive News

Global captive market updates, regulatory news and industry insights

Myanmar to Allow Private Insurers to Expand Their Business Scope

According to Myanmar's Insurance Business Supervisory Board, Myanmar has allowed private enterprises to operate insurance businesses since 2012. Currently, private insurers are permitted to offer nine types of insurance, including life, fire, motor, goods and health insurance. Together with the Ministry of Finance, the Board plans to add 11 more insurance classes to private insurers' permitted scope—including life insurance for overseas workers, crop insurance, agricultural insurance, travel insurance and engineering insurance—though consultation with the relevant enterprises is still needed.

2017-06-14

Author：Editorial Team
Cambodia's Insurance Premiums Grew 24% in the First Quarter

According to information released by the Insurance Association of Cambodia, Cambodia's nationwide premium income in Q1 2017 grew 24% compared with 2016. Among them, non-life insurers' first-quarter premium income was US$216 million, up 6.3% year on year; life premiums were US$146 million, up 63.5%.

2017-06-11

Author：Editorial Team
Connecticut Lowers Capital Requirements for Captive Insurers

Connecticut's legislature has passed Bill 7183, amending the minimum capital requirements for sponsored captives and adding dormancy provisions. The bill awaits the governor's signature and is expected to take effect on July 1, 2017, lowering minimum paid-in capital and surplus from US$500,000 to US$250,000.

2017-06-11

Author：Editorial Team
Philippine Insurance Industry May Post Double-Digit Growth This Year

The Philippines' insurance regulator, the Insurance Commission (IC), said first-quarter premiums of life and non-life insurers reached PHP 57.035 billion, up 19.51% from PHP 47.725 billion in the same period of 2016, and full-year national premium income is expected to grow by 20%.

2017-06-11

Author：Editorial Team
U.S. Commercial P&C Rates Rise

According to the U.S. IVANS insurance transaction index report released Thursday, rates rose in May for nearly all commercial lines. Commercial auto renewal rates rose 2.7%, business owners policy rates rose 4.5%, general liability rates rose 1.5%, commercial property rates rose 2.8%, umbrella liability rates rose 0.8%, and workers' compensation rates rose 0.6%—the first workers' compensation rate increase so far this year.

2017-06-03

Author：Editorial Team
U.S. Reinsurance Prices Fell at June 1 Renewals

JLT Re (Jardine Lloyd Thompson Group P.L.C.) said on Thursday that U.S. reinsurance prices fell at the June 1 renewals, as the global reinsurance market remains awash with capital.

2017-06-03

Author：Editorial Team
百慕大商业发展署（BDA）推出百慕大风险索引

百慕大商业发展署（BDA）推出了一个新的电子门户网站，旨在将保险客户与岛上的风险管理服务提供商联系起来。百慕大风险索引提供了可以接触到百慕大岛上的保险经纪人、保险公司、再保险公司、自保公司和保险连结证券行业的渠道。

2017-05-31

Author：Editorial Team
美欧协议：“一个富有成效的里程碑”

标准普尔全球评级（S&P Global Ratings）在一份新的报告中指出，多德 - 弗兰克法案“授权联邦保险局向美国财政部和美国贸易代表在国际保险谈判中提出建议，包括不同（地区）的监管待遇”，这也正是该签署协议旨在克服的难题所在。

2017-05-31

Author：Editorial Team
Tennessee Amends Its Captive Insurance Law

Recently, Tennessee amended Section 354 of the public chapter of its captive insurance statute, which took effect in 2011, allowing protected cell companies greater flexibility in converting from a cell captive to a standalone captive, and permitting captive insurers to exist in dormant form.

2017-05-28

Author：Editorial Team
Central Bank of Ireland Strengthens Disclosure and Reporting Requirements for Insurers

Based on Solvency II requirements, the Central Bank of Ireland has changed its policy of exempting low-risk and medium-low-risk captives from quarterly investment reporting. The new regulatory framework took effect with the implementation of EU Solvency II on January 1, 2016, and applies to (re)insurers, captive insurers and captive domiciles in EU member states.

2017-05-27

Author：Editorial Team

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