Captive Insurance News

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  • Willis Towers Watson Enters into a Global InsurTech Partnership Plug and Play and Willis Towers Watson have entered into a global InsurTech partnership. The agreement extends Willis Towers Watson's access to early-stage InsurTech startups across all of Plug and Play's InsurTech platforms, which include Beijing, Munich, New York, Silicon Valley, Singapore, and Tokyo.
  • Best's Briefing: Considers Hurricane Michael Catastrophe Losses Although Florida's insurance market-share leaders possess strong levels of risk-adjusted capitalization that should provide a buffer against Hurricane Michael losses, insurers, reinsurers, and insurance-linked securities investors could face significant losses, according to a new A.M. Best briefing.
  • London & Capital's Kate Miller Promoted to Partner Wealth and asset manager London & Capital has appointed Kate Miller as partner. Her team actively manages over $1 billion of investment portfolios on behalf of captive insurers, reinsurers, and supranational organizations.
  • Allianz Restructures Its Alternative Risk Transfer Line Allianz Global Corporate & Specialty will restructure its alternative risk transfer (ART) line of business into two teams. ART Chief Underwriting Officer Richard Boyd will head up the capital solutions insurance-linked markets team. The remaining ART practice groups will be led by Michael Hohmann.
  • "You Own an Insurance Company, Now What?" Free Captive Insurance Webinar Join Management Services International for a complimentary captive insurance webinar, "Captives 2.0: You Own an Insurance Company, Now What?," that will take place on Thursday, October 18, 2018. The course begins at 2:00 p.m. (EDT) and will be hosted by Jeremy Colombik.
Captive-Trends 2018

Captive Insurance Issues and Trends 2018

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  Tax Burden-SF

"Micro-Captive" Tax Updates from the North Carolina Captive Conference

At the North Carolina captive conference, Charles "Chaz" Lavelle, senior partner, Bingham Greenebaum Doll LLP, discussed Internal Revenue Code Section 831(b) changes over the last year.
August 24, 2018 Read More
  Increasing Graph 480x377

RAA Reports Improvement in US Reinsurers' Operating Results

The latest Reinsurance Association of America (RAA) survey reveals that a group of 18 US property-casualty reinsurers wrote $30.1 billion of net premiums during the 6 months ended June 30, 2018, compared to $22.5 billion for the same period in 2017.
August 24, 2018 Read More
  NCCIA 2018 Conference-Microsoft Session-SF

Microsoft's Captive Tax Issues Not Applicable in Most Other States

At the North Carolina captive insurance conference, Bruce Wright, a partner at Eversheds Sutherland (US) LLP, shared some insights surrounding Microsoft Corporation's Arizona captive insurance company (Cypress Insurance Company) payment of more than $875,000 for unpaid premium taxes and interest and penalties to the state of Washington.
August 23, 2018 Read More
  Globe against b&w graphic background-SF

129 Country Risk Assessment Reports Released by A.M. Best

Country Risk Assessment Reports providing economic, political, and financial system risk assessments on 129 countries were released by A.M. Best. A.M. Best determines country risk levels by assessing country-specific factors that could adversely affect an insurer's ability to meet its financial obligations. Country risk is evaluated and factored into all A.M. Best ratings.
August 23, 2018 Read More
  OECD Flag 2-SF

Transfer Pricing and Captive Insurance: The Importance of Substance

Transfer pricing is the number one international tax issue facing multinational enterprises. For tax purposes, transfer prices should be determined in accordance with the arm's-length principle. The arm's-length principle also applies to captive insurance and whether insurance premiums paid to a captive insurance company are arm's length or not.
August 22, 2018 Read More
  North Carolina Welcome Sign 2-SF

Strategic Risk Solutions Plants Roots in North Carolina

Dana Williams has joined captive management firm Strategic Risk Solutions (SRS) as its regional manager for North Carolina and Ohio. Ms. Williams will be based in a new SRS office in the Charlotte, North Carolina, area. The new office marks the firm's first permanent presence in North Carolina.
August 22, 2018 Read More
  NCCIA 2018: Leon Rives, Tom Adams, Martin Eveleigh, and Jeremy Colombik

North Carolina Captives "Expanding Beyond Small Insurance Companies"

The North Carolina captive insurance conference kicked off Monday in Charlotte with a captives 101 session in the afternoon followed by an opening plenary session in the early evening. Distinguished service awards were given to Jeremy Colombik, president of Management Services International, and Martin Eveleigh, chairman of Atlas Insurance Management.
August 21, 2018 Read More
  Wildfire 480x377

A.M. Best Examines California Wildfires: The New Normal?

As housing development has ramped up in more rural areas and wildlands in California, the resulting wildfire threat for insurers has continued to grow. For homeowners and farmowners writers in California, direct losses incurred nearly quadrupled to $16.0 billion in 2017, compared with $4.2 billion in 2016.
August 21, 2018 Read More
  Survey Results-SF

Lloyd's Agencies: ILS Will Widen To Cover More Risks, Including Cyber

A survey by the Lloyd's Market Association of Lloyd's managing agents found that 80 percent of Lloyd's agencies want insurance-linked securities (ILS) as a permanent re/insurance market fixture. Of those surveyed, 100 percent believe ILS transactions will widen to cover more risks, including cyber and legacy business.
August 20, 2018 Read More
  Mark Sims-SF

Mark Sims—Captive Insurance Person of Interest

As part of our ongoing commitment to provide thoughtful commentary concerning issues impacting captives and the broader insurance markets, we spoke with Mark Sims, vice president of business development at Captive Alternatives. Mr. Sims focuses on the use of private insurance companies for insuring the catastrophic business risks and employee benefits programs of medical groups and business owners.
August 20, 2018 Read More
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