Captive News

Global captive market updates, regulatory news and industry insights

UK Considers Restricting Cell Captives to Insurance-Linked Securities Use

The UK government has made clear that protected cell companies (PCCs) will only be permitted for insurance-linked securities (ILS) transactions and will not be allowed for wider use in the insurance industry or in other markets. Both the traditional insurance industry and the ILS sector welcomed the draft regulations published by the government on November 23.

2016-11-26

Author：Editorial Team
IRS Requires Additional Information Disclosure from Micro Captives

On November 9, the U.S. Internal Revenue Service required micro captive insurers to provide more information to determine whether such companies can serve as tax avoidance vehicles. Previously, the IRS had included captive insurers established under the Section 831(b) election of the U.S. tax code on its list of the "Dirty Dozen" tax scams.

2016-11-15

Author：Editorial Team
InsurTech: Will Its Rise Disrupt the Traditional Insurance Industry?

The rise of insurance technology (InsurTech) is a game-changing opportunity for insurance innovation, a transformation that will improve insurance-related products and sustain their development. InsurTech investment is moving in step with overall FinTech investment. Now we need to become familiar with another term: insurance technology (InsurTech). InsurTech belongs to the FinTech category, and its rise is bound to disrupt the traditional insurance industry.

2016-10-31

Author：Editorial Team
Five European Insurance Giants Form Blockchain Alliance to Improve Claims Efficiency

According to foreign media reports, five European insurance giants—Allianz, Aegon, Munich Re, Swiss Re and Zurich—have jointly formed a new blockchain research consortium, another major blockchain alliance following R3 and Post-Trade.

2016-10-22

Author：Editorial Team
Guernsey Hong Kong Expert Workshop to Explore Enterprise Risk Management Opportunities in Asia

Guernsey will hold its first insurance expert workshop in Hong Kong on November 4, 2016, featuring two panel discussions—one focusing on captive insurance and the other on employee benefit trusts (EBTs)—exploring the risk management implications of global innovation and development in these two areas.

2016-10-15

Author：Editorial Team
Guernsey Aims to Lead in 'Producer-Owned Reinsurance Companies (PORCs)' Business

Guernsey is developing the "producer-owned reinsurance company (PORC)" model, which allows reinsurance brokers or other intermediary firms to use this organizational form to provide customized reinsurance arrangements for smaller clients.

2016-09-30

Author：Editorial Team
UK Expected to Legislate on Insurance-Linked Securities and Cell Captives Next Year

The UK government plans to publish the first draft of its insurance-linked securities regulations this autumn to promote the country's insurance-linked securities (ILS) business.

2016-09-24

Author：Editorial Team
U.S. Swimming Governing Body Sells United States Sports Insurance Company

USA Swimming, the U.S. national governing body for the sport, has received approval from District of Columbia regulators to sell its captive insurer—United States Sports Insurance Company (USSIC). USSIC was incorporated in 1988 in the offshore center of Barbados and ceased operations in 2014, entering run-off and redomiciliation proceedings. Over the years, the captive's profits were used to establish a risk management fund and strengthen safety measures.

2016-09-24

Author：Editorial Team
Florida Hospital Establishes Captive in Its Home State

The captive insurer of Parrish Medical Center (PMC) was approved on August 11, 2016 and is managed by USA Risk Group. It will write various casualty, medical malpractice and other liability coverages for Parrish Medical Center, a non-profit public acute care hospital located in Titusville, Florida. Its premium structure fully meets the requirements of U.S. Section 831(b).

2016-09-24

Author：Editorial Team
2016 Captive Managers Survey Results Published

Captive Review and Wilmington Trust have jointly published the 2016 Captive Managers Survey, a comprehensive survey report covering more than 6,000 risk retention vehicles worldwide and over US$250 billion in assets under management. The results include data on US$91.5 billion of assets managed by 18 captive managers. The survey report is now available free online.

2016-09-24

Author：Editorial Team

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