Captive News

Global captive market updates, regulatory news and industry insights

African Captive Sector Driven by Third-Party Risks

The development of captives in Africa is largely driven by companies wishing to offer insurance products to affiliated customers, and Mauritius has developed into an important African captive domicile on this basis. Until now, the use of captive insurers and cell captives has been limited to South Africa, where large enterprises mostly choose to establish single-parent captives in major international domiciles such as Guernsey, the Isle of Man or Luxembourg, or to set up cell captives domestically.

2016-09-24

Author：Editorial Team
SpaceX Chooses a Captive Solution

Final Frontier Insurance Co., Ltd., a single-parent captive established in the District of Columbia by Space Exploration Technologies Corp. (SpaceX), was approved on August 25.

2016-09-24

Author：Editorial Team
Tennessee Farmers Cooperative Captive Returns to Tennessee from the Cayman Islands

Farmers Risk Insurance Company, an association captive of the Tennessee Farmers Cooperative (TFC), has redomesticated from the Cayman Islands to Tennessee, where it will continue to provide captive services to its members. The company was formed by Marsh in the Cayman Islands in 1987 and was transferred to its members' home state on June 30, 2016.

2016-09-24

Author：Editorial Team
Atlas Approved to Establish Captive Management Company in South Carolina

South Carolina's insurance department approved Atlas's application to establish an insurance management company, making Atlas the first North Carolina captive management company to obtain a captive management license in the neighboring state.

2016-09-24

Author：Editorial Team
CICR September Report Focuses on Emerging Captive Issues

The CICR September 2016 captive report published an article titled "The Telemedicine Revolution and Captive Insurers," presenting views on the growing number of telemedicine programs spanning state lines and the complexity of multi-level regulation. The article was co-authored by Karen Byank Mathura and Lauren Bicknese, both senior healthcare specialists and claims and risk management consultants. The article argues: "Using captive programs to broadly cover and expand projections of such emerging risks allows telemedicine distributors and providers to be more creative and forward-looking in protecting themselves and their joint venture partners from telemedicine liability risks and damages." It is not yet clear whether dedicated telemedicine captive insurers exist.

2016-09-24

Author：Editorial Team
Vermont Captive Industry Premium Income Reached US$27.5 Billion in 2015

Premium income of the captive industry in Vermont, US, reached US$27.5 billion in 2015, an increase of US$2 billion over the previous year.

2016-07-15

Author：Editorial Team
Canadian Wildfires Expected to Cause Huge Losses

The wildfire in Alberta, Canada has become the worst in the province's history. Financial institutions believe the fire could become the costliest natural disaster in Canadian history in terms of economic losses. As of May 9, the raging wildfire had doubled in size to 200,000 hectares - three times the size of Toronto, Canada's largest city.

2016-05-18

Author：Editorial Team
Isle of Man Considers Emulating Bermuda's Solvency II Approach

The Isle of Man is considering formally submitting a Solvency II application after completing the assessment and review of the Insurance Core Principles (ICP).

2016-04-02

Author：Editorial Team
Singapore to Scrap Tax Exemption for Captive Insurers in 2018

According to news from Singapore on March 24, starting from April 1, 2018, Singapore will bring marine hull and liability insurance, specialty risk business and captive business under the unified Insurance Business Development (IBD) umbrella tax scheme, which means captive insurers registered in Singapore will no longer enjoy tax exemption.

2016-04-02

Author：Editorial Team
New York Court Rules Premiums of Black Ridge Captive Ineligible for Tax Deduction

A New York State Tax Appeals Tribunal administrative law judge ruled that premiums paid to Black Ridge Insurance Company, the captive insurer of the Stewart pharmacy chain, are not eligible for tax deduction.

2016-03-19

Author：Editorial Team

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