Captive Domiciles

  Wrinkled Vermont flag

Vermont Embarks upon a Captive Insurance Blockchain Pilot

A state of Vermont pilot program will allow new captive insurance companies to register with the secretary of state using blockchain technology. The pilot program is designed to test the functionality of the emerging technology in state regulatory processes.
January 14, 2019 Read More
  Vermont Flag-SF

Healthcare Industry Fuels Vermont's Captive Licenses in 2018

Vermont licensed 25 new captive insurance companies in 2018, up from 24 the prior year, with growth fueled by captive formations in the healthcare industry, state officials reported Tuesday.
January 09, 2019 Read More
  Michigan State Seal 480x377

Michigan Captive Insurers Face New Filing Deadlines

Captive insurance companies licensed in Michigan will face new deadlines to file annual financial reports with the state Department of Insurance and Financial Services under legislation signed into law on December 20, 2018, by Governor Rick Snyder.
December 21, 2018 Read More
  Cayman Flag Sky - SF feature

The Cayman Islands as a Captive Domicile: An Introduction

The Atlas Insurance Management team gives a first-hand view of the Cayman Islands experience as participants in the second-largest captive insurance jurisdiction in the world and a high-growth business environment, not just for captive insurance but for the whole universe of financial services, including large insurers.
December 05, 2018 Read More
  Gibraltar Flag-SF

Gibraltar Maintains Healthy Market Performance with Brexit Uncertainty

Gibraltar's insurance market has experienced significant development over the past decade, with new entrants contributing to growth in the territory's premium base, according to A.M. Best.
December 03, 2018 Read More
  Illinois State Flag-SF

Veto Overridden on Illinois Legislation Containing Captive Provisions

Illinois lawmakers Tuesday overrode an earlier gubernatorial veto of legislation that will set new minimum capital and surplus requirements for captive insurance companies licensed in Illinois.
November 28, 2018 Read More
  Barbados Coat of Arms 480x377

Barbados Repeals Exempted Insurance Act, Captives Maintain Zero Tax

The government of Barbados has announced a number of legislative measures as it moves toward tax convergence of the country's international and domestic business sectors. Captive insurers will maintain zero taxation.
November 26, 2018 Read More
  Arrows Pointing Up-SF

Bermuda, Cayman, and Barbados Captives Outperform Commercial Market

Operating results among A.M. Best-rated captive insurance companies in Bermuda, the Cayman Islands, and Barbados continued to outperform the US commercial market sector in 2017, according to the latest report from the rating agency, titled "Bermuda, Cayman Islands and Barbados Captives Stay the Course."
November 19, 2018 Read More
  Delaware Seal 480x377

Delaware Captive Domicile Offers Same-Day Conditional Licensing

Delaware's state insurance commissioner can now issue conditional certificates of authority to enable new captive insurers to operate while regulators review their applications. Steve Kinion, director of the bureau of captive and financial insurance products, Delaware Insurance Department, spoke about the measure in a recent A.M. Best interview.
November 13, 2018 Read More
  Mark Sims-SF

The Captive Domicile of Puerto Rico

According to Mark Sims, vice president of business development for Captive Alternatives, LLC, Puerto Rico as a captive domicile is unique in the sense that it falls under US federal law, US Customs, and Federal Deposit Insurance Corporation; however, it does have sovereignty that Congress granted in 1952.
October 29, 2018 Read More
  Cap-a-Thon Image - SF Feature

CCIA President Steve DiCenso Speaks "Hacker" with recently spoke with Steve DiCenso, president of the Connecticut Captive Insurance Association (CCIA), about its upcoming dual-venue 2018 Annual Collaborative, which is set to take place on October 16–17 in Hartford. The theme of the Collaborative is "Innovation and Managing Cyber Risk through Captives."
September 19, 2018 Read More
  Hong Kong Lights-SF

China Captives in the Limelight

China is proactively raising awareness and interest in alternative risk transfer. The potential for retaining risk layers and the economic accretion it can provide are a natural fit for Chinese risk buyers. This article explores captive insurance developments in China and considers opportunities and challenges for future captive development.
September 12, 2018 Read More
  Vermont Flag-SF

A.M. Best Examines Vermont's Affiliated Reinsurance Company Legislation

A new type of captive insurance company, an affiliated reinsurance company, created by Vermont in response to US tax reform provides an onshore reinsurance alternative for companies facing an added tax burden due to the so-called Base Erosion and Anti-Abuse Tax, according to a new A.M. Best briefing.
September 06, 2018 Read More
  North Carolina Piggy Bank 600x300

The Current State of North Carolina's Captive Insurance Program

At the opening general session of the North Carolina Captive Insurance Association's annual conference, North Carolina's Department of Insurance Senior Deputy Commissioner (Captive Insurance Companies Division) Debbie Walker spoke about the state captive insurance sector's swift 5-year ascent to one of the world's fastest growing captive domiciles.
August 29, 2018 Read More
  NCCIA 2018: Leon Rives, Tom Adams, Martin Eveleigh, and Jeremy Colombik

North Carolina Captives "Expanding Beyond Small Insurance Companies"

The North Carolina captive insurance conference kicked off Monday in Charlotte with a captives 101 session in the afternoon followed by an opening plenary session in the early evening. Distinguished service awards were given to Jeremy Colombik, president of Management Services International, and Martin Eveleigh, chairman of Atlas Insurance Management.
August 21, 2018 Read More
  CIMA MOU Signing 480x377

CIMA and NAIC Fortify Relationship To Coordinate Regulatory Efforts

The Cayman Islands Monetary Authority (CIMA) has signed a memorandum of understanding (MOU) with the National Association of Insurance Commissioners (NAIC). The MOU is designed to help insurance supervisors in the United States and the Cayman Islands coordinate on regulatory issues with the goal of efficient, fair, safe, and stable insurance markets.
August 17, 2018 Read More
  David Provost 2018 VCIA

Captive Premium a "Nice Target for Tax Revenue," Say Some Regulators

At the Vermont captive conference, David Provost, Vermont's deputy commissioner of captive insurance, encouraged captive insurers who want to see changes in captive insurance company statutes to contact their captive regulators. He also said some state regulators are speaking of captive premium as a nice target for tax revenue.
August 14, 2018 Read More
  Arrows Pointing Up-SF

Labuan IBFC, Leading Asian Captive Domicile

Labuan International Business and Financial Center (Labuan IBFC) approved four captive insurers in the first half of the year, and the domicile reports that it leads the Asian region in captive formations over the last year.
August 07, 2018 Read More

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).
July 31, 2018 Read More
  NCCIA President Tom Adams

NCCIA President Tom Adams Says "Keep Your Eye on" North Carolina Captives spoke with Tom Adams, president and CEO of the North Carolina Captive Insurance Association (NCCIA), to discuss the annual conference, scheduled for August 20–22 at the Sheraton, Le Méridien, in Charlotte, North Carolina. readers can register online for this quickly approaching event.
July 23, 2018 Read More