Regulation and Oversight

AIG Obtains Final Approval for Brexit Restructure

October 26, 2018

American International Group, Inc. (AIG), subsidiary, AIG Europe Limited (AEL), has been approved to transfer its business into two new entities, allowing the organization to complete the restructuring of its European operations and ensure its readiness for Brexit. Read More

CIMA and NAIC Fortify Relationship To Coordinate Regulatory Efforts

August 17, 2018

The Cayman Islands Monetary Authority (CIMA) has signed a memorandum of understanding (MOU) with the National Association of Insurance Commissioners (NAIC). The MOU is designed to help insurance supervisors in the United States and the Cayman Islands coordinate on regulatory issues with the goal of efficient, fair, safe, and stable insurance markets. Read More

Update from Vermont on the Microsoft Captive Cease and Desist Order

August 10, 2018

Read about what was said at the recent Vermont Captive Insurance Association Annual Conference surrounding the order from the Washington State Office of the Insurance Commissioner, which told Microsoft's wholly owned Arizona captive insurer to cease and desist transacting insurance business in the state and stop soliciting and writing insurance coverage for Washington insureds. Read More

Guernsey: "First" Incorporated Cell Company Core Admitted to TISE

July 30, 2018

In 2017, Dom Re IC, an incorporated cell of Solidum Re (Guernsey) ICC (incorporated cell company), issued what were believed to be the first notes to have been digitized on a private blockchain. In another first, Solidum Re ICC recently became a member of the Guernsey-headquartered International Stock Exchange (TISE). Read More

Cayman Issues 14 New Captive Insurer Licenses in Second Quarter 2018

July 18, 2018

The Cayman Island Monetary Authority (CIMA) reported that it issued 14 new captive insurer licenses in the second quarter of 2018. Highlights from the CIMA data are presented as well as class description summaries. Read More