captive insurance and alternative risk domiciles

Current Features:

US:

Kentucky -- a very new and very successful US captive domicile!

Posted February 2009, download current list of Kentucky captives as of January 2009 in pdf. As of the date of this document, there were 77 licensed captives -- mostly pure -- in the domicile.

Like many domiciles, Kentucky is experiencing budget constraints state wide. Despite this, our sources report that, "Commissioner Clark and other government officials are committed to supporting the captive industry in Kentucky. We recently have allocated funds for increased staff and IT resources for the captive program, although some cuts to marketing, travel and other discretionary expenditures were necessary. The captive program is adequately fundeFd to support our current companies and to handle foreseeable future growth in the next few years."

Great news for Kentucky and for our industry.

Offshore:

Dublin.

2007 Captive Update from our friends at DIMA (Dublin International Insurance & Management Association): In 2007, the premium income for captives in Ireland was €3.5bn, according to the annual DIMA survey of its members. It should be noted that DIMA membership is not mandatory. Additionally, it is not mandatory for members to complete the survey questionnaire. Because of these factors, the figure arrived at by the survey may not be completely accurate, but it is certainly a very good guide, and well worth passing along to our readers.

Other Valuable Domicile Resources:

M arch 18, 2009: Montana Legislature Passes Industry-Backed Captive Law.

March 17, 2009: Guernsey becomes world’s fourth largest captive domicile. Retains its position as No. 1 in Europe.

March 6, 2009: Cayman Islands Regulatory Announcements. Our thanks to Kerr, Russell & Weber for sharing this important update with captive.com's readers.

February 2009, download current list of Kentucky captives as of January 2009 in pdf. As of the date of this document, there were 77 licensed captives -- mostly pure -- in the domicile.

Like many domiciles, Kentucky is experiencing budget constraints state wide. Despite this, our sources report that, "Commissioner Clark and other government officials are committed to supporting the captive industry in Kentucky. We recently have allocated funds for increased staff and IT resources for the captive program, although some cuts to marketing, travel and other discretionary expenditures were necessary. The captive program is adequately funded to support our current companies and to handle foreseeable future growth in the next few years."

Great news for Kentucky and for our industry.

October 2, 2008: Captives: Why the Isle of Man?

July 16, 2008: The DCIA Interviews Delaware Captive Insurance Regulator William P. White, ARe. Fast links to important Delaware info are provided in this Question and Answer article!

April 2008, White Paper on Captive Insurance Companies prepared for the Reserve Bank of New Zealand, prepared by the NzCIA. This is a good Captive Basics white paper, and contains helpful information on New Zealand as a domicile.

September 11, 2007: Download this informational PowerPoint presentation from a session presented at the recent NzCIA Conference entitled, "New Zealand Captive Insurance Legislation -- The Future."

July 27, 2007: The 2006 Captive Act Amendments: Revolutionizing Protected Cell Laws in the District by Stephen F. Donahoe, Muldoon Murphy & Aguggia LLP. On March 14, 2007, the District of Columbia amended its captive insurance laws by enacting the Captive Insurance Company Amendment Act of 2006 (the “2006 Amendments”). The 2006 Amendments update segregated cell provisions included in the District’s Captive Insurance Company Acts of 2000 and 2004 and offer clear advantages over other domestic domiciles with respect to protected cell flexibility. [more...]

April 26, 2007 Guernsey Update: Guernsey – A Buoyant Captive Domicile On PCC’s Tenth Birthday.

From Best Review Monthly Insurance Magazine, March 2007: Captive Island. Puerto Rico's long-time plan to become a haven for captive insurance companies is becoming a reality. This domicile is open for business! Copyright© 2007 A.M. Best, reprinted with permission. All rights reserved.

Malta Update: March 2007 Compliance Bulletin.

Regulatory News: Mississippi House Bill 984 on Registration Fee for Risk Retention Groups. This house bill was sent to us by the good folks in Mississippi in the aftermath of a March 27 Captive Daily Wire Posting on RRG fees that was unclear as to which state was involved.

A terrific article written by Conor Jennings entitled, "Virgin Captives" is awaiting you. This article features a solid introduction to captive basics, along with an explanation of numerous advantages offered to captives who domicile in the British Virgin Islands. Posted in November 2004.

Protected Cell Captives in Malta -- Insurance Companies, Insurance Brokers & Insurance Managers

Captive Governance 101 -- a presentation and supporting articles delivered at the Cayman 2003 Captive Forum by Monte Jahnke and a panel of experts, featuring governance issues for multiple domiciles, but with an emphasis on the Cayman Islands.