Captive Domiciles

  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
  Cayman Flag 480x377

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.
July 18, 2018 Read More
  Guernsey Flag 480x377

Guernsey ILS Market Update

Guernsey has seen a positive start to the year in the insurance-linked securities (ILS) market. To date, statistics for new cells of protected cell companies, the main method of writing new ILS business, are well ahead of those for 2017.
July 17, 2018 Read More
  North Carolina State 480x377

North Carolina's Captive Insurance Program Produces Rapid Economic Boost

North Carolina's rapidly growing captive insurance program had an estimated $30 million economic impact on the state last year, based on a recent study by the North Carolina Department of Insurance on the economic impact of the state's captive insurance company program.
June 28, 2018 Read More
  VCIA Rich Smith

Vermont's Captive Conference Is Part of a Thoughtfully Woven Tapestry recently crossed paths with Rich Smith, president of the Vermont Captive Insurance Association (VCIA), to discuss its annual captive conference, happening August 7–9 in Burlington, Vermont. True to this year's conference theme, "Where the Captive World Comes to Meet!" VCIA will host 1,100 people from all over the world.
June 27, 2018 Read More
  North Carolina State 480x377

North Carolina Considers New Tax-Friendly Captive Insurance Legislation

In a newsletter, the North Carolina Captive Insurance Association shared that North Carolina's General Assembly is currently looking at legislation to exempt captive insurance companies formed in other US captive domiciles from all North Carolina state taxes.
June 01, 2018 Read More
  Vermont 480x377

New Vermont Law Allows for Affiliated Reinsurance Companies

A new law in Vermont offers an onshore affiliated reinsurance alternative to insurance companies affected by the recent imposition of the Base Erosion Anti-Abuse Tax on reinsurance ceded to offshore affiliates. The law provides for a more favorable reinsurance alternative for US companies conducting business in offshore jurisdictions.
May 18, 2018 Read More
  Connecticut State Seal

Connecticut Agency Captive Bill Sent to Governor for Signature

Connecticut's General Assembly recently passed Senate Bill 377, authorizing agency captive insurance companies. Specifically, the bill states that agency captives are owned or controlled by licensed insurance agents or producers to insure risks that are sold, solicited, or negotiated through the captive's owners or controllers.
May 16, 2018 Read More
  Nevis Flag 600x300

Nevis as a Captive Domicile: An Insider's Perspective

Atlas Management provides an insider's point of view for those considering the Caribbean island of Nevis as an offshore captive domicile. As a captive domicile, Nevis has many advantages compared to other offshore jurisdictions says Atlas Management.
April 23, 2018 Read More
  North Carolina Flag Against Blue Sky and Clouds

North Carolina Rooted in as a Leading Captive Insurance Domicile

Nearly 5 years after the passage of captive legislation, North Carolina is firmly established as a leading captive insurance company domicile. Since the North Carolina Captive Insurance Act was enacted in October 2013, the Department of Insurance has licensed 248 captive insurers and approved 437 cells and series.
April 06, 2018 Read More