Despite underwriting losses, the financial performance of risk retention groups remained stable in the third quarter of 2016, according to Demotech’s latest study.
The Delaware Department of Insurance announced Steve Kinion is departing as director of its Bureau of Captive Insurance & Financial Products. Under his leadership, Delaware grew to be the third largest captive domicile in the United States, with over 1,000 captive insurance entities.
Each year, the National Association of Insurance Commissioners (NAIC) compiles a report showing the profitability of insurance by line and by state. This brief article looks at the countrywide profitability of selected commercial lines written by captives in 2015.
Yoshihiro Kawai, the International Association of Insurance Supervisors (IAIS) secretary general for the past 14 years, will welcome Jonathan Dixon into the role following the IAIS Annual Conference in November. The IAIS is a voluntary membership organization of insurance supervisors and regulators from more than 200 jurisdictions in nearly 140 countries.
The outlook of Sony Group’s captive, PMG Assurance, has been revised to stable by A.M. Best, and its A- rating has been affirmed.
Strategic Risk Solutions (SRS) has estimated the number of captives licensed in Bermuda, Cayman, and 18 US domiciles at year-end 2016. The estimates, as presented at the SRS webinar, “2017—A Pivotal Year for the Captive Market,” are provided in this article.
The 4th annual Texas Captive Insurance Association (TxCIA) Conference was held February 15–16, 2017. TxCIA announced the number of licensed Texas captives has climbed to 34. Also, several significant legislative changes are being considered by the 2017 Texas Legislature.
Debbie Lambert shines in the spotlight as part of our ongoing captive insurance leader interviews. Ms. Lambert has been an influential member of the accounting profession, serving the captive insurance industry since its early days.
As Congress begins the effort to revamp the Affordable Care Act, it is seeking input from the Self-Insurance Institute of America (SIIA). SIIA has already participated in one hearing and expects to be involved in more.