Captive Domiciles

  Global Economy Key-SF

Bloomberg and BDA: Bermuda Plays a Special Role in Global Economy

Michael Bloomberg, three-term former New York City mayor and founder of Bloomberg LP, commented on Bermuda's special role in the global economy at an invitation-only forum cohosted by the Bermuda Business Development Agency last week at Bloomberg headquarters and titled "The Future of International Business Deals: How To Position for Long-Term Growth."
May 22, 2017 Read More
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New Law Further Improves Montana Captive Insurance Regulations

Montana captive insurance regulations get a boost as Governor Steve Bullock signs into law Senate Bill 245. Among the positive changes enacted by the new bill includes removing the requirement that a reciprocal insurer have 25 or more persons domiciled in Montana.
May 11, 2017 Read More
  Bermuda Flag 480x377

BDA Launches Bermuda Risk Directory

The Bermuda Business Development Agency (BDA) has launched a new digital portal targeting global insurance customers and connecting them to Bermuda’s top-tier market for risk coverage. The Bermuda Risk Directory website offers access to the island’s brokers as well as insurance, reinsurance, captive insurance, and insurance-linked securities sectors.
May 05, 2017 Read More
  Letter of Support-SF

New Vermont Captive Insurance Legislation Signed into Law

New legislation making improvements in Vermont's captive law has been signed by the governor. The new legislation adds agency captives to the list of captive types allowed in the US domicile. Other important changes include allowing broader accounting systems, expanding dormant captives, and clarifying risk retention group governance standards.
May 03, 2017 Read More
  Butler Students Bermuda-SF

First Student-Run Captive Insurance Company Launched in Bermuda

An American university has chosen Bermuda as the domicile for the first known student-run captive insurance company. This small captive insurer was launched by students enrolled in the Davey Risk Management and Insurance Program at Butler University's Lacy School of Business.
April 26, 2017 Read More
  Texas Capitol Building 480x377

Texas House Insurance Committee Advances Bill Improving Texas Captive Insurance Law

On April 18, the Texas House Insurance Committee approved legislation making improvements in the Texas captive insurance law. Among the six improvements would be credit for reinsurance ceded to non-affiliated and non-admitted reinsurers that meet the standards of the bill.
April 20, 2017 Read More
  Georgia Flag 480x377

Georgia To Amend Its Captive Insurance Company Act

Senate Bill 173 to the state of Georgia Captive Insurance Company Act was sent to the governor to sign. The bill incorporated revisions to certain provisions and definitions that clarify the Captive Insurance Company Act, impose minimum requirements for articles of incorporation, allow captives to be formed as limited liability companies rather than stock companies, place restrictions on agency captives, and provide for certain powers and requirements by the commissioner of insurance.
April 07, 2017 Read More
  Cayman Flag 600x300

Cayman Is Transforming into an International Insurance and Reinsurance Jurisdiction

With growing competition from new captive insurance domiciles, the Cayman Islands are evolving into an international insurance and reinsurance jurisdiction. This article summarizes the Insurance Managers Association of Cayman's (IMAC's) view of the transformation that is underway.
March 28, 2017 Read More
  Utah Arches National Park 480x377

Utah Posts YouTube Video on Legislative and Captive Issues

Presenters from the Utah Division of Captive Insurance and the Utah Captive Insurance Association discuss legislative events and captive issues in a 17-minute YouTube video.
March 02, 2017 Read More
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Montana's Proposed 2017 Captive Insurance Legislative Changes

Proposed legislative changes in Montana will make reciprocal formation easier and provide a mechanism to put captives into dormancy.
February 28, 2017 Read More
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The Number of Captive Insurers in 2016

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.
February 17, 2017 Read More
  Texas 480x377

Texas Captive Count Climbs to 34 with Captive Law Changes Possible

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.
February 17, 2017 Read More
  Business Woman Drawing Growth Chart 480 x 377

Tennessee 2016 Captive Growth and 2017 Proposed Legislation

Tennessee experienced 24-percent growth in the number of risk-bearing entities in 2016, and new captive legislation has been proposed for 2017. This article reviews both.
February 07, 2017 Read More
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North Carolina Domicile’s Captive Insurance Company Program

North Carolina has reported more than 50-percent growth in the number of captives during 2016 from new formations as well as existing captives redomesticating to the state.
February 02, 2017 Read More
  Utah Road Sign-SF

Utah Captive Domicile Shows Solid Positive Growth in 2016

The Utah captive insurance domicile saw positive growth in 2016. Overall, 68 new captives were formed, along with additional cells. This brings Utah's captive industry totals to 462 active captive companies and 74 active cell companies.
February 01, 2017 Read More
  Vermont Flag-SF

Vermont Licensed 26 New Captive Insurance Companies in 2016

Vermont licensed 26 new captive insurance companies in 2016, bringing the total number of captives it has licensed to 1,088. This article gives a breakdown of the new entries by type of captive.
January 27, 2017 Read More
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Oklahoma Continues Building Its Captive and Captive Manager Portfolio

Oklahoma continues building its captive and captive manager portfolio by licensing 17 new captives and starts 2017 by approving Atlas Insurance Management as a captive manager.
January 26, 2017 Read More
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Captive Legislation Changes Proposed in Vermont

The Vermont Legislature will be considering a number of changes to its captive legislation this year. This article provides a summary of the provisions of the Vermont 2017 Captive Legislation proposal being considered by the Legislature.
January 24, 2017 Read More
  Globe

Captive Insurance World: What's Happening Now

Here are some recent and upcoming events in the captive insurance industry that may be of interest to our readers.
December 02, 2016 Read More
  New Management

Captive Insurer Established in Connecticut Offers Look at SOBC Corp. Process

The president and CEO of SOBC Corp. explains the acquisition process for distressed insurance companies and risk retention groups.
November 30, 2016 Read More