Guernsey licensed three new captive insurance companies, four captive cells, and two special purpose vehicles in 2020, the domicile reported. Guernsey ended 2020 with 291 licensed captive insurance companies and 43 special purpose vehicles, a drop from 305 captives at the end of 2019.
The US property-casualty insurance industry's net income dropped 27.5 percent during 2020's first 9 months as the industry dealt with the COVID-19 pandemic and a historic catastrophe season, according to a new report. The report was produced by data analytics provider Verisk and the American Property Casualty Insurance Association.
Vermont has licensed its 1,200th captive insurance company, top Vermont government and captive regulators announced February 9. The captive, Sustainable Assurance Company, was formed by parent company Lancaster County Solid Waste Management Authority in Lancaster, Pennsylvania.
The new Captive.com website is the culmination of a year-long project involving IRMI technology, content strategy, and subject matter experts assisted by technology and content strategy consultants. The site navigation has been completely redesigned, and IRMI invested in a state-of-the-art search engine and a leading-edge content management system.
Utah, continuing recent trends, licensed one of the largest numbers of new captive insurance companies in 2020 among US domiciles with 38. The 38 new captive insurance companies licensed in Utah last year brought the state's total to 396 captives at the end of 2020.