Market News
SOBC Services Is Now SOBC DARAG
Through its wholly owned subsidiary SOBC DARAG Holdings Ltd., DARAG Guernsey has acquired the entire share capital of SOBC Services. SOBC DARAG focuses on acquisitions, loss portfolio transfers, and other business transfers for insurance companies, captive insurance companies, and risk retention groups within the US, Bermuda, and Caribbean runoff markets. Read More
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. Read More
Regulators Focus on Cyber, Big Data, AI, and Intragroup Transactions
Insurance regulators from the United States and the European Union were joined by representatives from industry and consumer organizations to discuss challenges and opportunities related to cyber risks, the use of big data, artificial intelligence (AI), and intragroup transactions in multinational insurance groups at the 6th EU-US forum held in Luxembourg. Read More
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." Read More
A.M. Best-Rated European Captives Are Stable, According to Report
A recent A.M. Best report describes the main rating considerations the rating agency uses for captives with European parent groups. The report shows that A.M. Best European captive ratings have been stable through the past year, with most of the ratings affirmed and their stable outlooks maintained. Read More