Regulation and Oversight
Guernsey: "First" Incorporated Cell Company Core Admitted to TISE
In 2017, Dom Re IC, an incorporated cell of Solidum Re (Guernsey) ICC (incorporated cell company), issued what were believed to be the first notes to have been digitized on a private blockchain. In another first, Solidum Re ICC recently became a member of the Guernsey-headquartered International Stock Exchange (TISE). Read More
Cayman Issues 14 New Captive Insurer Licenses in Second Quarter 2018
The Cayman Island Monetary Authority (CIMA) reported that it issued 14 new captive insurer licenses in the second quarter of 2018. Highlights from the CIMA data are presented as well as class description summaries. Read More
Dodd-Frank Reform and International Insurance Standards Coordination
On May 24, 2018, President Donald Trump signed into law the Economic Growth, Regulatory Relief, and Consumer Protection Act. It includes an important provision designed to encourage federal coordination with US state insurance regulators when federal agencies represent the United States before international insurance standard-setting organizations. Read More
WTW Survey: Most Insurers Uncertain on Key Solvency II Requirements
A Willis Towers Watson (WTW) survey has revealed the extent to which significant uncertainty remains in the insurance industry concerning the approach to key Solvency II requirements since the regulation came into force on January 1, 2016. Read More
Microsoft Captive Insurer Ordered To Cease and Desist
The Washington State Office of the Insurance Commissioner has ordered an Arizona captive owned by Microsoft that provides coverage to the Microsoft group of companies to cease and desist transacting insurance business in the state and soliciting and writing insurance coverage for Washington insureds. Read More