DARAG Group, an international insurance and reinsurance group that specializes in the assumption of discontinued businesses, has acquired a Guernsey based reinsurance captive. DARAG said the sale of the captive, which has been in run-off since 2019, is part of …
Cyber insurance and security provider Resilience Cyber Insurance Solutions has created a captive reinsurance company. Through the Bermuda-based captive, Resilience will retain a share of each risk it underwrites. CJ Pruzinsky, executive vice president and chief underwriting officer for North …
Aquiline Drones Corp. (AD), a Hartford, Conn.-based drone manufacturing and services firm, has completed the licensing process to establish its own insurance captive, Aquiline Drones Indemnity Corp. (ADIC). This insurance license allows AD to assume the risk of its entire …
Ride-sharing giants Lyft Inc. and Uber Technologies Inc. seem to have found the same solution for dealing with the risks of managing millions of drivers on the road: Creating their own insurers in Hawaii. On Friday, Lyft told potential investors …
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 …
The Texas Department of Insurance (TDI) has licensed Gateway Rivers Insurance Co., the captive insurance subsidiary of AT&T Inc. Gateway Rivers is based in Dallas. “We’re very pleased to have this business in Texas,” said Commissioner of Insurance Julia Rathgeber. …
National Interstate Insurance Co. has formed a new group rental captive for waste haulers to complement its traditional insurance program. The company is now seeking operators with a solid track record in the waste industry to become founding members. According …
Connecticut Gov. Dannel P. Malloy announced last week that the corporate owner of one of the largest grocery store chains in New York City is setting up its captive insurance subsidiary in Connecticut. The Red Apple Group, which operates Gristedes …
A recently enacted bill in North Carolina will permit, for the first time, the creation of captive insurers based in the Tar Heel State. The North Carolina Captive Insurance Act (HB 473) was signed into law by Gov. Pat McCrory …
The New Jersey Department of Banking and Insurance announced Wednesday that the department approved Lumerica Insurance Company, a subsidiary of BASF Americas Corporation, to operate as a captive insurer in New Jersey. The Florham Park company’s principal business is to …
