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  • A.M. Best Affirms Credit Ratings of Pfizer Captive Blue Whale Re Ltd. A.M. Best has affirmed positive financial and credit ratings of Blue Whale Re Ltd. This is the Vermont-domiciled single-parent captive of pharmaceutical giant Pfizer. The company received a positive Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of "a+."
  • The 3 Categories of Risk Retention Groups A panel discussion on corporate governance of risk retention groups (RRGs) at the 2017 Captive Insurance Companies Association (CICA) Conference provided a useful way to categorize RRGs. RRGs can be divided into one of three categories based on whether there is a sponsor and, if so, the type of sponsor.
  • R&Q Acquires Captive Insurer of American Fortune 500 Company Randall & Quilter Investment Holdings Ltd. (R&Q) has acquired ICDC, Ltd. (ICDC), a captive insurer of an American Fortune 500 company. The company, originally domiciled in Bermuda, was redomiciled in Vermont effective June 30, 2015. The company reinsured workers compensation, commercial general liability, business auto liability, business auto physical damage, and property risks.
  • European Cedants Increase Reinsurance Buying but Demand for Cover Slows In a new briefing, A.M. Best reports European cedants have increased reinsurance buying despite slowing demand. This trend is driven by a diverse range of factors, including regulatory demands under Solvency II and the need to support product diversification, including new lines of business.
  • R&Q Acquires Bermuda Captive Linco Randall & Quilter American Holdings Inc. (R&Q) has agreed to acquire Bermuda-based Linco Ltd. (Linco), a wholly owned captive insurer of AmeriPride Services, Inc. and Alsco Inc. The transaction is subject to regulatory approvals, which are anticipated within 30 days.
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  Pharmaceutical Research-SF

A.M. Best Affirms Credit Ratings of Pfizer Captive Blue Whale Re Ltd.

A.M. Best has affirmed positive financial and credit ratings of Blue Whale Re Ltd. This is the Vermont-domiciled single-parent captive of pharmaceutical giant Pfizer. The company received a positive Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of "a+."
March 29, 2017 Read More
  One Two Three 480x377

The 3 Categories of Risk Retention Groups

A panel discussion on corporate governance of risk retention groups (RRGs) at the 2017 Captive Insurance Companies Association (CICA) Conference provided a useful way to categorize RRGs. RRGs can be divided into one of three categories based on whether there is a sponsor and, if so, the type of sponsor.
March 28, 2017 Read More
  Company Acquisition-SF

R&Q Acquires Captive Insurer of American Fortune 500 Company

Randall & Quilter Investment Holdings Ltd. (R&Q) has acquired ICDC, Ltd. (ICDC), a captive insurer of an American Fortune 500 company. The company, originally domiciled in Bermuda, was redomiciled in Vermont effective June 30, 2015. The company reinsured workers compensation, commercial general liability, business auto liability, business auto physical damage, and property risks.
March 27, 2017 Read More
  Europe 480x377

European Cedants Increase Reinsurance Buying but Demand for Cover Slows

In a new briefing, A.M. Best reports European cedants have increased reinsurance buying despite slowing demand. This trend is driven by a diverse range of factors, including regulatory demands under Solvency II and the need to support product diversification, including new lines of business.
March 24, 2017 Read More
  acquisition 480x377

R&Q Acquires Bermuda Captive Linco

Randall & Quilter American Holdings Inc. (R&Q) has agreed to acquire Bermuda-based Linco Ltd. (Linco), a wholly owned captive insurer of AmeriPride Services, Inc. and Alsco Inc. The transaction is subject to regulatory approvals, which are anticipated within 30 days.
March 24, 2017 Read More
  Global Technology 480x377

IAIS Report Analyzes Impact of FinTech Trends on Insurance Industry

A new report from the International Association of Insurance Supervisors (IAIS) highlights the potential impact of innovative financial technologies (“FinTech”) on insurance sector competitiveness, consumer choice, interconnectedness, business model viability, and regulatory oversight. The report, titled "FinTech Developments in the Insurance Industry," also examines the challenges and opportunities for insurance supervisors.
March 23, 2017 Read More
  Young Professionals 480x377

25 Percent of Captive Insurance Workforce To Retire in 5 Years, Says CICA President

The 2017 Captive Insurance Companies Association (CICA) Conference, Defying Disruption, focused on talent management as one key aspect for captives. In his opening remarks, CICA president Dennis Harwick noted that 25 percent of the captive insurance industry workforce will retire in the next 5 years. This certainly set the stage for the keynote address and session topics to focus on the need to attract and retain talent.
March 23, 2017 Read More
  Letter of Support-SF

Insurance Industry Trades Voice Support for Covered Agreement

In a letter to Treasury Secretary Steven Mnuchin, four insurance industry trade groups reiterated their strong support for the Covered Agreement negotiated by the United States and European Union to resolve prudential insurance and reinsurance matters. They believe the Agreement makes US insurers competitive in the European Union and recognizes the strength of the US insurance regulatory system.
March 22, 2017 Read More
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NRRA Files Amicus Brief in Restoration RRG Appeal

The National Risk Retention Association filed an amicus curiae brief in support of Restoration RRG in its recent court appeal, challenging the Wisconsin Department of Safety and Professional Services for discrimination against risk retention groups.
March 21, 2017 Read More
  Pacini-CICA-2017

CICA Elects Sarah Pacini New Board of Directors Chair

The Captive Insurance Companies Association (CICA) has elected a new board chairperson and new officers and directors. Sarah Pacini, J.D., chief executive officer, Cooperative of American Physicians, Inc., has been elected chair of the Board of Directors.
March 20, 2017 Read More
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