captive insurance News

Vermont Licensed 14 New Captives So Far This Year

The Vermont Department of Financial Regulation announced on July 31 that the state regulators licensed 14 new captives during the first seven months of 2015, already nearing the full-year 2014 total of 16. The newly licensed captives include seven pure …

Georgia Hopes to Establish State as Captive-Friendly with Revised Law

Companies looking to form captives in Georgia can now do so with more favorable conditions since the passage of several business-friendly amendments to the Georgia captive insurance law, which became effective July 1. The effort to make the changes to …

North Carolina Approves Amendments to Captive Insurance Law

Amendments proposed to the North Carolina Captive Insurance Act by the North Carolina Department of Insurance were met with unanimous support from the N.C. General Assembly and signed into law on June 19, 2015. Some of the amendments include: Clarifying …

Strong Capacity Drives Buyer’s Market in Political Risk Insurance: Marsh

Abundant capacity and strong competition have contributed to a favorable marketplace for buyers of political risk insurance globally, according to Marsh’s “Political Risk Market Update,” published this month. Despite growing concerns about global political and credit risks and a recent …

Connecticut Insurance Department Licenses New Captive Insurer

Connecticut Insurance Commissioner Katharine L. Wade announced that a corporation specializing in consultation and financial management for reinsurance companies is expanding its footprint in Connecticut. The Connecticut Insurance Department said New Jersey-based SOBC Corporation is establishing a sponsored captive insurance …

Vermont’s New Captive Legislation to Revise Some Capital Requirement Rules

Vermont officials announced that Gov. Peter Shumlin will sign new legislation passed in April that would bring several changes to the state’s captive insurance rules — including changes to the investment guideline to allow “marketable securities” along with cash, trusts …

IRS Names Microcaptives as Top Abusive Tax Scheme

The IRS is growing increasingly uncomfortable that an increasing number of smaller companies and professional firms have been doing what larger companies do — creating their own or joining a captive insurer. The IRS believes some of these smaller companies …

Delaware Licensed 87 New Captive Insurers in 2014

Last year was another record-setting year for Delaware’s captive insurance industry, the state’s Insurance Commissioner Karen Weldin Stewart recently announced. Delaware’s captive bureau licensed 87 captive insurers and 141 series business units in 2014, Stewart said on Feb. 12. “I …

Vermont Captive Insurance Gross Written Premium Nears $30B

Vermont licensed 16 new captives in 2014 and the state’s captive insurance gross written premium is nearing $30 billion, according to data released today by the Vermont Captive Insurance Division. The new captives were made up of 10 pure captives, …

Aetna to Establish Captive Insurance Company in Connecticut

Connecticut Gov. Dannel P. Malloy announced last week that Hartford, Connecticut-based health insurer Aetna is establishing its captive insurance company in its home state, becoming the state’s fifth licensed and largest captive insurer to date. Aetna’s captive, the Aetna Risk …