North Carolina, already ranked among the top states for captive insurance firms, could soon become a little more attractive for captives and risk-retention groups if the governor signs Senate Bill 319. State lawmakers this week unanimously approved the bill, which …
The Oklahoma Insurance Department (OID) announced it will hold the inaugural OK Captive Day on Tuesday, August 20, 2024. This event aims to educate key industries in Oklahoma about the Oklahoma Captive domicile and the benefits of a captive insurance …
Apollo Syndicate Management Ltd., the Lloyd’s managing agent, announced the launch of the first captive syndicate to be launched under Lloyd’s revised captive syndicate model. The captive syndicate, which is managed by Apollo, is in partnership with a major global …
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of Blue Whale Re Ltd. (Blue Whale) (Burlington, VT). The outlook of these Credit Ratings (ratings) is stable. AM Best …
Iowa will lower the amount of reinsurance tax due from some captive companies under a bill signed by Governor Kim Reynolds last week. HF 2636 lowers the tax on premiums written above $60 million to 0.02 percent, down from 5 …
Oklahoma’s captive insurance program reported a 31% net gain in 2023, the Oklahoma Insurance Department said. OID issued 20 new licenses in 2023 with six dissolutions, resulting in a net gain of 14 new captive insurers. Oklahoma’s total number of …
Remember the Carpoffs, the California couple sent to prison in 2021 and 2022 for running a $1 billion Ponzi scheme tied to mobile solar generators? The scheme that reportedly ensnared Warren Buffet’s Berkshire Hathaway and the Progressive insurance corporation? A …
Commissioner Andrew Mais of the Connecticut Insurance Department announced a 37% increase in the state’s captive insurance sector in 2023. According to Mais, this growth includes the addition of 10 new captive insurers and 13 new cell risk-bearing entities. With …
The Vermont Department of Economic Development reported the state licensed a total of 38 new captive insurance companies in 2023, making it now home to 659 captives. That growth made 2023 one of the best years since Vermont licensed its …
The state of Delaware has lost its fight with the Internal Revenue Service (IRS) over the release of information on captive insurers, a fight the state took all the way to the Supreme Court. The Supreme Court on Monday declined …
