captive insurers News

London Run-off Specialist RiverStone Acquires 2 Cayman-Based Captives

Run-off specialist RiverStone Group, the London-based subsidiary of Fairfax Financial Holdings, announced the acquisition of two Cayman-based captives: GMPCI Insurance Co. Ltd. (GMPCI) and Seaside Indemnity Alliance Company Ltd. Seaside was formed in 2013 for the purpose of assuming hospital …

Captive Insurers Grow Their Third-Party Business with Help from Digital Tools: Marsh

The number of captive insurance companies writing third-party business is growing at double-digit pace as the digital era expands the ways that organizations can provide and service insurance, according to global insurance broker Marsh. Technology advances, including mobile applications and …

ACE Creates Asia-Pacific Unit to Service Captives, Complex Multinationals

ACE Group has created a dedicated and centralized unit in Asia Pacific in response to increasing demand from corporate customers to deliver tailor-made risk transfer and risk managed solutions. Based in Singapore, this unit will provide customized products and services …

Report: Home Loan Banks Place Moratorium on Captive Insurers Used by REITs

The Federal Home Loan Banks jointly agreed to a three-month moratorium on admitting captive insurers, which are being used by mortgage investors to access the government-chartered system, according to three people with knowledge of the step. The 12 FHLBs offered …

Texas Regulators OK Formation, Redomestication of Captive Insurers

The Texas Department of Insurance (TDI) announced the formation of a new captive insurer and the redomestication of two other captive entities have been approved under new rules adopted to implement Senate Bill (SB) 734. The legislation authored by Sen. …

Texas Opening Doors to Captive Insurers

The Texas Department of Insurance has begun accepting applications from captive insurance companies located in other jurisdictions that would like to relocate to Texas. TDI will license the companies under a law change approved by the 83rd Texas Legislature and …

North Carolina Captive Insurance Law Now in Effect

North Carolina is open for business as a domicile for captive insurance companies. The North Carolina Captive Insurance Act, signed into law on June 19, is now in effect, allowing for the formation of captive insurance companies in the state. …

MagMutual Creates New Captive for Physician Practices, Hospital Systems

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 …

Tennessee Reopens for Business from Captive Insurers

Applications are now being accepted in Tennessee for firms looking to create captive insurers under the state’s revised law. The Tennessee Department of Commerce and Insurance released a new application form for companies to use as required under a new …

Tennessee Updates Its Captive Insurance Law

Tennessee Gov. Bill Haslam is expected to sign a bill allowing the formation of new types of captive insurance companies in the state and guaranteeing funding for their regulation. The state has been falling behind in the race for captives …