RIMS, the risk management society, has presented 34 graduate and undergraduate risk management students with an Anita Benedetti Student Involvement Program grant that will fund their attendance at its 2017 conference in Philadelphia. This is the type of outreach the captive insurance industry should consider.
In testimony before the House Judiciary Subcommittee on Regulatory Reform, Commercial and Antitrust Law, the Property Casualty Insurers Association of America argued that Congress should not look to make any changes to the McCarran-Ferguson Act. The testimony is in response to H.R. 372, which would eliminate portions of the antitrust provisions as they apply to health insurers.
MAXIS GBN has selected London for its global headquarters. The AXA and MetLife joint venture focuses on employee benefits for global, local, and multinational clients. The new headquarters is only a piece of MAXIS GBN’s overall strategy for 2017.
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.