captive News

Snowball Named Utah Captive Insurance Regulator

David J. Snowball has been named the new director for the Utah Insurance Department’s captive division. Snowball replaces Ross Elliott, who is set to retire at the end of the month. Snowball joined the division in July 2010. Before that …

North Carolina Licenses Four Captives

North Carolina Insurance Commissioner Wayne Goodwin said his agency has issued four captive insurance company licenses since the state’s Captive Insurance Act went into effect in late October 2013. The new North Carolina-domiciled captive insurance companies are: West & Joyce …

National Interstate Launches Captive for Waste Haulers

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 …

Vanliner Insurance Launches New Captive for Moving, Storage Companies

Vanliner Insurance Co., based in Fenton, Mo., has introduced Move-CAP, an alternative risk transfer (ART) insurance program developed exclusively for best-in-class moving and storage companies. Move-CAP is Vanliner’s third group captive program designed specifically for premier moving and storage operations. …

New Oklahoma Law Caps Premium Tax on Captive Insurance Companies

A proposed new law that places a cap on premium taxes paid by captive insurers is expected to increase the number of companies conducting business in Oklahoma, state regulators say. Senate Bill 1617, requested by Oklahoma Insurance Commissioner John Doak, …

Best Affirms BP Captive Jupiter Insurance ‘A’ Ratings

A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Guernsey-based Jupiter Insurance Limited, both with stable outlooks. Jupiter is a captive of BP plc, an integrated …

Captives Bring Premium Dollars and Jobs to Missouri

When it comes to the captive insurance industry, slow and steady growth is just fine with the state of Missouri. But it’s not like the state is reluctant to encourage captives to form or relocate there. Far from it. In …

Best Revises Outlook on BP’s Jupiter to Stable; Affirms Ratings

A.M. Best Europe – Rating Services Limited has revised the outlook to stable from negative and affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Guernsey-based Jupiter Insurance Limited, a captive of BP plc, …

Unrest in Captive Insurance World Benefits the GlobalGreen Agency

Ray Spears, Jeff Wilson and Charles Donaldson in 2007 established GlobalGreen Insurance Agency as the brand name for the franchise network of independent agencies developed and operated by St. Louis, Mo.-based Equity One Franchisors. Spears, a former banker, said the …

Montana Businesses Forming Captives to Reap Economic Benefits

Montana licensed a record 26 captive insurance companies in 2010, boosting the number of captives at year-end to 67, also a record, the state Department of Insurance announced. The 26 captives licensed last year compares with 16 in 2009, eight …