Captive insurance vehicles are increasingly being used by businesses to provide cover for non-traditional risks, according to a new benchmarking report published by Marsh. Marsh’s report, “The World of Captives: Growth and Opportunities Without Borders,” states that the number of …
Willis Group Holdings announced the appointment of Paul Scope as Chairman of Willis Bermuda, encompassing all of the firm’s operations on the Island, effective immediately. He will oversee Willis’s whole range of Bermuda based operations “in a move designed to …
The captive insurance program in Nevada outperformed growth and speed expectations by approving 26 captives in 2014, which resulted in a captive premium increase of $3.8 billion, Insurance Commissioner Scott J. Kipper announced on Thursday. He said 2014 was once …
The Cayman Islands captive insurance industry reported steady growth in 2014, with 22 new captives formed, according to the Insurance Managers Association Cayman (IMAC). The total number of captives domiciled in Cayman was 759 as at 31 December 2014, pure …
Kieran O’Mahony of Marsh Cayman has taken the Insurance Managers Association Cayman (IMAC)* reins from outgoing chairperson Rob Leadbetter at the 2015 Annual General Meeting, which was held 22 January 2015. Joining him as the new board are: Linda Haddleton …
State insurance department officials are reporting that Montana licensed 34 new captive insurance companies in 2014, bringing the state’s total number of licensed captives to 177. In addition to the 34 new captive insurance company licenses, the number of series …
ACE urged risk managers at multinational European companies to reexamine the capabilities of their global insurance partners as the international regulatory and business environment grows increasingly complex. The recommendation follows recent ACE research, which suggests that 70 percent of European …
MagMutual Insurance Co., a medical professional liability insurer in the Southeast, has formed OURCell Captive, P.C.C. A wholly owned subsidiary of MagMutual, OURCell Captive provides physician practices and hospital systems that desire to actively participate in the retention and management …
Alterna has entered into the alternative risk marketplace, specifically focusing on providing medical professional liability services for physicians, clinics, and hospital groups through one company. Most group insurance facilities (i.e., risk retention groups (RRGs), captives) have several third-party service providers …
Captive insurance companies tightened margins and used capital more efficiently in 2012, according to research by ratings firm A.M. Best Co. Among A.M. Best’s captive composite, the loss and loss adjustment expense ratio decayed 5.7 points compared with 2011, due …
