Captive Insurance News

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  • Brian Collins Joins Strategic Risk Solutions in New Luxembourg Branch Strategic Risk Solutions (SRS) has announced the opening of its Luxembourg captive management branch with Brian Collins joining the firm as managing director, Luxembourg, to lead captive management business in the domicile. Mr. Collins joins SRS from Stadhold Insurances (Luxembourg), a subsidiary of Randstad.
  • Guy Carpenter Adds 3 New Members to Its Executive Committee Guy Carpenter has appointed three new members—Neil Mayer, Lara Mowery, and John Crichton—to its executive committee. Mr. Mayer has been appointed chief operating officer; Ms. Mowery has been appointed global head of distribution; and Mr. Crichton, Guy Carpenter's chief information officer, also joins executive committee.
  • Elliott Goss To Join Legacy Acquirer DARAG as Group Head of Claims Malta-based legacy acquirer DARAG Group has named Elliott Goss group head of claims. Mr. Goss, who will be based in London, will join DARAG on August 17. Mr. Goss brings over 17 years of insurance and reinsurance claims experience to DARAG, specializing in long-tail classes such as international casualty.
  • With COVID-19 and a Hardening Market, Captives Respond to Challenges As with previous commercial insurance market disruptions, captive insurance companies are responding to the current hardening traditional market, according to A.M. Best. Current conditions will likely result in more new captive insurance companies or parents of existing captives adding coverage lines.
  • US P&C Insurers Saw Record Surplus Drop in the First Quarter The US property and casualty (P&C) insurance industry experienced its largest-ever quarterly decline in surplus during the first quarter of this year when surplus fell $75.9 billion, according to Insurance Services Office, Inc., a Verisk business, and the American Property Casualty Insurance Association. Since then, the COVID-19 pandemic has continued to affect many insurers.
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  Businessman Using Tablet To Analyze COVID-19 Economic Fallout Data

Second Wave of COVID-19 Could Challenge Insurers' Resilience: S&P

Insurers' and reinsurers' ratings have proven resilient during the first wave of the COVID-19 pandemic, largely as a result of their capital strength, according to S&P Global Ratings, though a second wave of COVID-19 could prove challenging. Those capital buffers will be eroded through the second half of the year.
July 14, 2020 Read More
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FERMA CEO Named to European Insurance Regulatory Agency Panel

The European Insurance and Occupational Pensions Authority has named Typhaine Beaupérin, CEO of the Federation of European Risk Management Associations (FERMA), to a new term on its Insurance and Reinsurance Stakeholder Group (IRSG). Ms. Beaupérin joined the stakeholder group in 2018 and will now serve 4 years on the reconstituted panel.
July 14, 2020 Read More
  Rachel Seale-Consulting Actuary-Milliman

Using a Captive To Insure Unique Risks

While captive insurance companies are most often used to insure traditional exposures and insurance risks, they can also be used to insure just about any risk to which a parent company is exposed.
July 13, 2020 Read More

Guernsey Insurance Industry Looks To Create ESG Symbol

Guernsey's insurance industry is working to develop a kitemark that would create an independently verifiable symbol of its insurance-linked securities platforms to demonstrate their environmental, social, and governance (ESG) credentials. A kitemark is a recognizable mark that designates that a product or service has met standards for quality or safety.
July 13, 2020 Read More
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Global Insurance Premium Volume To Recover Sharply in 2021: Report

After a sharp decrease in demand for insurance this year due to the impact of the COVID-19 pandemic, the insurance industry's premium volume will recover to prepandemic levels in 2021, according to a new sigma report from the Swiss Re Institute.
July 10, 2020 Read More
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Colorado State Researchers Update 2020 Atlantic Hurricane Forecast

Researchers at Colorado State University have updated their 2020 Atlantic hurricane season forecast, increasing their projection for named storms this season by 1 to a total of 20. The Colorado State team forecast continues to project 9 hurricanes this season, including 4 major hurricanes of Category 3 or greater.
July 10, 2020 Read More
  CEO Spelled Out in White on Black Blocks Against Woodgrain

AXA XL Names Sean McGovern UK and Lloyd's Market CEO

AXA XL has named Sean McGovern CEO UK & Lloyd's market subject to regulatory approval. Mr. McGovern had been performing the role on an interim basis.
July 09, 2020 Read More
  The Florida flag with a mask reading "COVID-19" in front of it

COVID-19 Adding to the Challenges Facing Florida Property Insurers

COVID-19 is adding to the challenges of Florida property insurers, who were already dealing with higher reinsurance pricing and social inflation.
July 09, 2020 Read More
  Blue COVID-19 Key on a Black Computer Keyboard

OECD Says COVID-19 May Dampen Insurer Premium, Investment Growth

The COVID-19 pandemic could curb insurers' premium and investment growth in 2020, according to a report from the Organization for Economic Cooperation and Development (OECD). The pandemic will have various impacts on insurance companies including changing demand for policies and changes in insurers' claims experience.
July 08, 2020 Read More
  Business Card with Word Pandemic Held in Businessman

COVID-19 Pandemic May Accelerate Risk Management Trends

A recent survey of European risk managers reveals that risk management trends, such as digital transformation and the use of captive insurance, may be accelerated by the COVID-19 pandemic, some believe. The Federation of European Risk Management Associations "2020 European Risk Manager Report" collected data from 764 risk managers.
July 08, 2020 Read More
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