Captive News

Global captive market updates, regulatory news and industry insights

Singapore Plans to Scrap Tax Exemptions for Captive Insurers

Singapore plans to abolish tax exemptions for captive insurers and bring its tax rules in line with the OECD's Base Erosion and Profit Shifting (BEPS) standards. Captive insurers registered in Singapore currently enjoy tax exemption on qualifying offshore income, which includes underwriting premiums (excluding third-party insurance business) as well as dividend and interest income from outside Singapore.

2017-01-24

Author：Editorial Team
Number of Pure Captive Insurers in the Cayman Islands Declines

As of December 31, 2016, there were 334 pure captive insurers registered in the Cayman Islands, down 35 from 369 at the end of 2015. Group captive insurers fell from 124 in the prior year to 121; 24 special purpose vehicles (SPVs) were registered, 4 fewer than the previous year. However, the number of segregated portfolio companies (SPCs) increased by 7 from the prior year to 147. The total number of captive insurers decreased from 661 in the prior year to 626. The number of cell captive insurers stood at 599, down 4 from the previous year.

2017-01-24

Author：Editorial Team
Marsh to Acquire J. Smith Lanier

Marsh & McLennan Agency L.L.C., Marsh's middle-market agency, said on Friday that it plans to acquire J. Smith Lanier, one of the largest insurance brokerages in the United States. The transaction is expected to be completed in the first quarter of 2017.

2017-01-14

Author：Editorial Team
Zurich Insurance: Global Cybersecurity Insurance Market Premiums to Reach USD 3 Billion

On December 15, Zurich Insurance Group released its "Q4 Global SME Cyber Security Risk Survey Report" (hereinafter referred to as the "Report"). The Report shows that risks arising from cybercrime are receiving growing attention from small and medium-sized enterprises (SMEs), and this risk has given rise to a new line of business: cybersecurity insurance. Premiums in the global integrated security and privacy protection insurance market are expected to reach USD 3 billion.

2016-12-16

Author：Editorial Team
Multinational Telecom and Broadband Giant Telefonica Establishes New Captive in Luxembourg

Multinational telecom and broadband giant Telefonica has established a new captive insurer in Luxembourg, Nova Casicapea Reinsurance Company (NCR), which will replace Casicapea Reinsurance Company (CR), established in Luxembourg in 1988.

2016-12-11

Author：Editorial Team
British Minister-Counsellor in China: Shanghai–London Stock Connect Advances Further; Insurance Regulation Needs More Cooperation

Since the result of the UK's Brexit referendum came out in June, the plunge of the pound has reflected financial market volatility, and a stream of black swan events has heightened uncertainty in the world economy. As the UK launches Brexit negotiations, what is the future direction of China–UK economic relations? And what new prospects are there for bilateral economic, trade and cooperation?

2016-12-11

Author：Editorial Team
P2P Insurer Lemonade Secures USD 33 Million in Series B Funding

A filing with the U.S. Securities and Exchange Commission (SEC) shows that Lemonade, a New York-based insurance startup, has successfully raised USD 33 million in Series B funding within two months of launching its brand-new P2P insurance model.

2016-12-06

Author：Editorial Team
Survey Shows 25% of (Re)insurers Will Use Capital Markets Tools – Guy Carpenter

A survey of 107 (re)insurance specialists by reinsurance broker Guy Carpenter shows that 25% of (re)insurers will make greater use of capital markets tools in 2017.

2016-12-03

Author：Editorial Team
Captive Exit Solutions Are Vital for Captive Owners – Paul Owens

Paul Owens, global CEO of captive business at Willis Towers Watson, said captive managers should understand exit solutions. He does not regard captive exit specialists such as R&Q, DARAG and SOBC as competitors; on the contrary, he considers these institutions vital to the development of the captive industry.

2016-11-27

Author：Editorial Team
New Jersey Approves Captive to Cover Underground Storage Tanks

In November 2016, the New Jersey Department of Banking and Insurance approved the establishment of a single-parent captive by Founders Indemnity Group to underwrite underground storage tanks.

2016-11-27

Author：Editorial Team

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