Captive News

Global captive market updates, regulatory news and industry insights

Global Insurance Industry Payouts Reached $135 Billion in 2017

Munich Re recently stated that the final claims from last year's three hurricanes and other catastrophes (such as the strong earthquakes in Mexico) are expected to reach $135 billion (a record high). Overall losses (including uninsured losses) reached $330 billion, the second-highest catastrophe loss figure on record. To date, the only year with heavier losses was 2011, when the Great East Japan Earthquake caused overall losses of up to $354 billion (in current US dollar terms).

2018-01-17

Author：Editorial Team
New York City Suspends $9.6 Million Incentive Package for Aetna

New York City has shelved the $9.6 million incentive package offered to Aetna Inc. (AET), which is re-evaluating whether to move its headquarters to New York.

2018-01-12

Author：Editorial Team
Online Insurer Coverfox Raises 640 Million Rupees in Series D Round

Mumbai-based online insurance broker Coverfox announced the completion of a 640 million rupee Series D funding round, with the International Finance Corporation (IFC), a member of the World Bank Group, as the investor. Previously, the company's business mainly covered the B2C insurance industry; with this latest funding, it plans to expand into B2B2C insurance.

2018-01-11

Author：Editorial Team
Europe's Connected-Car Insurance Market Is Booming

Chinese operators are seeking to increase the scale of IoT connections and, more importantly, the value of those connections. The experience of overseas operators is worth learning from: Vodafone has been making frequent moves in the IoT field recently, especially in the car sector - besides signing a deal with China's Niu electric vehicle company to provide connected services globally, it has also won important customers in the connected-car insurance market.

2018-01-08

Author：Editorial Team
Survey: US Hiring Up 24.2% Last Month, Financial Services and Insurance Lead Gains

US hiring grew 24.2% in December, with the biggest increases in financial services and insurance, up 23.1% - believed to be due to the frequency of natural disasters in the US last year, which led to a surge in insurance claims. Aviation, automotive and transportation grew 22.2%, while construction and engineering grew 21.1%.

2018-01-08

Author：Editorial Team
UK Insurers Move into Rental Cover: You Can Now Insure Your Car When You Rent It Out

Insurers are not known for moving quickly, but the industry has to keep up with a situation in which, in an economy of renting rather than owning goods, customers often no longer need long-term cover. From an insurance perspective, the risks attached to renting are very different from those attached to ownership - and insurers do not have much data on the former.

2018-01-03

Author：Editorial Team
New Year Message from Ravi Menon, Managing Director of the Monetary Authority of Singapore

In October, the Monetary Authority of Singapore launched the Industry Transformation Map (ITM) for Singapore's financial services sector, providing a blueprint for Singapore to maintain its leading position as an international financial centre, connect with global markets, and support economic development in Asia and Singapore.

2017-12-29

Author：Editorial Team
French Insurance Industry Forecast: Motor and Home Premiums to Keep Rising in 2018

France's "European Times" (Nouvelles d'Europe), citing AFP, reported on 6 December that several insurers and research firms predict French motor and home insurance premiums will continue to rise in 2018.

2017-12-12

Author：Editorial Team
ZhongAn Insurance Sets Up Joint Venture with Beston to Expand Overseas

ZhongAn Online P&C Insurance, China's largest internet insurer, said it plans to set up a joint venture with Beston, a company controlled by its chairman and executive director Ou Yaping, to explore international business development, cooperation and investment opportunities in fintech and insurtech in overseas markets.

2017-12-12

Author：Editorial Team
Goldman's Trading Desk Slips Up Again, Faces Payouts on Default Insurance

The bank's credit trading desk has been drawn into a fierce battle waged by hedge funds over the debt of major US homebuilder Hovnanian Enterprises Inc. Goldman has accumulated credit default swap and bond trading positions totalling about $200 million and may have to bear part of the payout liability on the default insurance.

2017-12-11

Author：Editorial Team

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