Captive Insurance News

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  • 831(b) Captive Owners File Lawsuit Against Gallagher and Artex Arthur J. Gallagher & Co. and its captive management unit, Artex Risk Solutions Inc., are being sued by a group of small employers alleging they have had to pay back taxes and other penalties to the Internal Revenue Service, involving their participation in 831(b) captives.
  • IVANS: Commercial Lines Renewal Rates Reflect Variable Changes IVANS has announced the "IVANS Index: Premium Renewal Rate Index" November results. For the first time this year, rate changes are split evenly, with an uptick in premium renewal rate across businessowners policy, commercial property, and umbrella, while commercial auto, general liability, and workers compensation experienced a downward shift.
  • Demotech Releases Third Quarter 2018 Financial Analysis of RRGs Demotech has released its "Analysis of Risk Retention Groups—Third Quarter 2018," reporting on the overall financial performance of risk retention groups (RRGs). Douglas Powell, Demotech's senior financial analyst, has concluded that "RRGs have a great deal of financial stability and remain committed to maintaining adequate capital to handle losses."
  • KBRA Assigns A Rating to Hamilton Re Kroll Bond Rating Agency (KBRA) assigned an insurance financial strength rating of A to Hamilton Re, Ltd. (Hamilton Re), a Bermuda, Class 4 property-casualty reinsurer. KBRA also assigned an issuer rating of BBB+ to Hamilton Insurance Group, Ltd., the Bermuda-based holding company for Hamilton Re.
  • R&Q Runoff Deal Set To Close on Reinsurance Corporation of America Randall & Quilter Investment Holdings Limited (R&Q) is set to acquire GLOBAL US Holdings Incorporated, the parent company of Reinsurance Corporation of America, a New York-domiciled reinsurance company in runoff.
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Captive Insurance Issues and Trends 2018

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  Beach house damaged by hurricane

Willis Re Report Details Hurricane Michael's Damage

Willis Re released a new damage survey report detailing the various damage patterns that it observed in the organization's field reconnaissance efforts following Hurricane Michael. The hurricane was 2018's 11th named storm and made landfall on the Florida Panhandle as a Category 4 hurricane on October 10.
November 06, 2018 Read More

SOBC DARAG Completes Peachtree Runoff Acquisition

The joint venture SOBC DARAG has completed its first acquisition: Florida-based Peachtree Casualty Insurance Company (Peachtree). SOBC DARAG was formed in Delaware to support DARAG's expansion into the US and Bermuda/Caribbean runoff markets. The joint venture and Peachtree acquisition were both announced in mid-August.
November 05, 2018 Read More
  Lynn Sheils-SF

Considering the Claims Benefits of Captive Insurance

There are numerous claims benefits with captive insurance, according to Lynn Sheils, general counsel of EWI Re. Benefits include the ability to (1) settle claims quickly to protect reputation, (2) litigate claims to set a precedent or to avoid claims piling, (3) choose legal counsel, and (4) control risk costs.
November 05, 2018 Read More
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October Release of "Risk Financing" Focuses on Risk Quantification

The latest release of "Risk Financing" features updates to the risk quantification factors in its famed "Appendix F," including updates to the workers compensation loss development factors, benefit level adjustments, and the consumer price index.
November 02, 2018 Read More
  CICR Image-SF

November "CICR" Brings an In-Depth Look at Tax Reform and Captives

Don't miss the November issue of "Captive Insurance Company Reports" ("CICR"), where you'll get answers to all of your questions about navigating tax reform in the captive insurance industry in an in-depth article from Daniel J. Kusaila, certified public accountant and tax partner at Crowe Horwath LLP.
November 02, 2018 Read More
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Ransomware Attacks Spike, Leading to Increased Demand Values

According to new data released by Beazley, reported cases of ransomware attacks and the value of ransom demands in the most sophisticated type of breaches have spiked in the third quarter of 2018.
November 01, 2018 Read More
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Facultative Reinsurance Runoff Transaction Completed for Workers Comp

Randall & Quilter Investment Holdings Ltd. (R&Q) has issued a facultative reinsurance certificate to a large US property-casualty insurer. The collateralized reinsurance policy was written from a cell within R&Q's wholly owned subsidiary, R&Q Quest Insurance Limited.
November 01, 2018 Read More
  Global Pricing-SF

Emerging Economies Insurance Gap Persists, According to Lloyd's

In "A World at Risk: Closing the Insurance Gap," the latest research from Lloyd's, the organization found $163 billion of assets are underinsured in the world today, leaving an exposure gap that poses a significant threat to livelihoods and global prosperity.
October 31, 2018 Read More
  Key Concepts-SF

Key Concepts for Captive Insurance Reinsurance Contracts

We take a look at some key concepts and reinsurance contract clauses that can help minimize the likelihood of a disagreement with your reinsurers. And, should these disagreements arise, the concepts and contract wording can provide additional protection to a captive insurance company.
October 31, 2018 Read More
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KBRA: Bermuda Business Environment Fosters (Re)Insurance Innovation

In a report, Kroll Bond Rating Agency (KBRA) said Bermuda's role as both a seasoned reinsurance provider and a solution incubator for the global (re)insurance industry continues, and KBRA believes Bermuda's role is perhaps even more relevant now than ever before.
October 30, 2018 Read More
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