Captive News

Global captive market updates, regulatory news and industry insights

Singapore General Insurance Industry's Gross Premiums Edged Up in 2016 While Overall Underwriting Profit Declined

Affected by a challenging external environment, gross premiums of Singapore's domestic general insurance industry rose by only 0.6% last year. Data released yesterday by the General Insurance Association of Singapore (GIA) showed that the industry's gross premiums edged up 0.6% last year to S$3.7 billion, below the 1.1% growth of the previous year. Overall underwriting profit also fell 17% last year to S$257.6 million.

2017-03-15

Author：Editorial Team
Malta and Gibraltar Release Prior-Year Captive Insurer Data

In December 2016, the Malta Financial Services Authority approved one new pure captive, bringing the local total number of captive insurers to 10. Gibraltar has 4 pure captives, 3 protected cell companies and 35 individual cells.

2017-03-11

Author：Editorial Team
Germany Maintained 9 Captive Insurers in 2016

By the end of 2016, Germany had 9 captive insurers in total. One captive was newly added and one was removed during the year, keeping the total number of captive insurers the same as in 2015.

2017-03-09

Author：Editorial Team
Captive Insurer Numbers Decline in Parts of Europe

From 2015 to 2016, the European captive market showed a declining trend. In the Swiss market, 5 captive insurers ceased operations in 2016 while 2 new captives were added; in the Isle of Man, 1 new captive insurer was added in 2016 while 7 exited the market.

2017-03-04

Author：Editorial Team
Labuan, Malaysia Strives to Build Itself into Asia's Captive Hub

Labuan, Malaysia is a renowned free port and international offshore financial centre in Asia, and is committed to building itself into Asia's captive hub. By the end of 2016, 39 captive insurers had been established in Labuan, mainly consisting of local Malaysian companies, but in recent years it has attracted a growing number of Japanese companies to register.

2017-03-03

Author：Editorial Team
Delaware Added 71 Pure Captives in 2016

As of December 31, 2016, the U.S. state of Delaware had added 71 pure captives, with the total number of pure captives rising from 242 the previous year to 325. Correspondingly, the number of Delaware series LLCs increased by 78 in 2016, while 163 were dissolved during the year, bringing the total number of series LLCs down from 740 to 655.

2017-03-03

Author：Editorial Team
RIMS Presents Annual Risk Manager of the Year Awards to Four Recipients

The Risk and Insurance Management Society (RIMS) presented its annual Risk Manager of the Year awards. The recipients were Loren Nickel, head of Imi Insurance Company, Google's captive insurer; Benjamin Evans, chief executive of insurance and risk management at Pennsylvania State University; Juliana Keaton, chairwoman of the captive insurer of CSX, a top-250 transportation company; and Scot Schwarting, head of risk management at the world's largest home appliance group.

2017-03-03

Author：Editorial Team
Tennessee Captive Insurance Market Grows Rapidly in 2016

In 2016, the U.S. state of Tennessee added 37 new captive insurers, including 30 pure captives and 5 protected cell companies (PCCs), 1 risk retention group (RRG) and 1 association captive. 67 new cell captives were also added.

2017-02-24

Author：Editorial Team
Bermuda Licensed 13 New Captives in 2016

By the end of 2016, Bermuda had 776 captive insurers, down 21 from 797 in 2015, with 34 captives exiting the market. The total comprises 225 Class 1 companies, 280 Class 2 and 255 Class 3 companies, plus 8 Class A and 8 Class B companies.

2017-02-23

Author：Editorial Team
Six New Captive Insurers Added in Asia in 2016

Asia's captive insurance market is mainly composed of Singapore, Labuan, Micronesia and Hong Kong, with six new captive insurers added in 2016.

2017-02-20

Author：Editorial Team

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