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May 2008 Captive Insurance Company Reports (CICR) Highlights

The May issue of the Captive Insurance Company Reports begins with the recent IRS guidance on Federal Excise Taxes applying on a cascading basis. It was written by Bruce Wright and M. Kristan Rizzolo of the New York law firm of Dewey & LeBoeuf. It discusses in general how FET is imposed on insurance and reinsurance policies. It then presents Revenue Ruling 2008-15 which addresses four factual situations and how the FET would be imposed, then Announcement 2008-18 describing the "voluntary compliance initiative" designed to encourage non-U.S insurers and reinsurers to pay. Dewey & LeBoeuf conclude with their commentary on the IRS's position, raising the significant substantive and administrative questions that are involved.

The second article Captives Exceed 5000 After 2007 Growth presents the number of captives worldwide by domicile at year-end 2007. CICR restates the year-end 2006 numbers as well, as they have been changed from last year's reported figures. CICR discusses the biggest domicile winners and losers, as well as comments from the captive directors in Utah and Kentucky, both domiciles that showed unusual and unexpected growth.

We also present the list of the top 10 captive managers. Of interest has been the net loss in total number of captives managed overall by both Aon and Marsh, the biggest captive managers, despite both adding many new captives. We suspect many captives are being shifted to smaller managers, possibly because of conflict of interest concerns, in addition to captives being consolidated or shut down.

Hugh Rosenbaum then reports on the recent Luxembourg Rendezvous, which focused heavily on the upcoming Solvency II standards.

Kick the tires before you buy! To see a sample CICR, View The January 2008 issue in Adobe Acrobat (pdf). The lead story in this issue is entitled Insurance Outlook: 2008.

CICR Index for 1988-December 2007 in searchable PDF

More CICR Information and Online Order Form

View Current and Past Pulse Survey Results and Towers-Perrin Analyses

National Underwriter

Full captive articles await you in the News/Library. Read them today!

For information on subscribing to National Underwriter or to inquire about reprints,
visit the National Underwriter Website.

Risk Retention Reporter

Risk Retention Reporter Publications

April 2008 Highlights

  • Draft Bill on LRRA Expansion Presented to Bi- Partisan Supporters
  • Receiver of Failed RRG Urges Restructure Not Liquidation
  • RRGs Charge Maine Fraud Report Filing Requirement Violates LRRA
  • Alabama Physicians Form South Carolina- Domiciled RRG
  • New RRG Directory & Guide Ranks Top RRGs, Managers by Premium
  • Purchasing Groups Continue to Increase In Soft Market
  • Twenty-Eight Insurers Underwrite 80% of Purchasing Groups
  • Three Business Areas Account for Greatest PG Growth Since 2000
  • Court Rules NJ Insurer Has No Private Right of Action Against RRGs
  • Arizona Legislature Fixing Glitch Affecting Reciprocal RRGs
  • RRG CEO of the Month: Danny Carlisle, American Feed RRG
  • Risk Retention Roundup
  • Experts Explore Governance Standards' Impact on RRG Boards
  • RRG Boards' Best Practices -- Are Risk Retention Group Boards Prepared for the New Corporate Governance Standards?, by Glenn D. Saslow, Saslow Lufkin & Buggy, and Dan Labrie, Housing Authority Insurance Group
  • RRG CEO of the Month -- Unusual Journey from Open-Wheel Race Cars to Insurance CEO, by Danny Carlisle, American Feed RRG

Check out these Risk Retention Reporter articles before you buy:

View an entire sample issue before you buy!

To see full articles, order this and all Risk Retention Reporter publications online from captive.com's secure server!

A Practical Guide to Purchasing Groups
Completely updated and revised!

A Comprehensive Reference Source on
Formation, Operation, and Regulation of Purchasing Groups
formed under the Liability Risk Retention Act

Learn more and order from our secure server

McDermott, Will & Emery Summary of IRS Revenue Ruling 2001-31 and its implications for future captive structures.
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