captives News

Captive Re/Insurance MGU, International Re, Partners with Admitted Insurer Cimarron

International Re (I–RE), the specialist captive insurance and reinsurance managing general underwriter (MGU), is announcing a new strategic capacity partnership with Cimarron Insurance, a niche specialist admitted insurer. The partnership will underwrite a range of admitted property and casualty lines …

Guy Carpenter Launches Mutual, Agency and Captive Reinsurance Solutions Practice

Guy Carpenter & Co., the reinsurance broker subsidiary of Marsh & McLennan Cos., announced the launch of a new marine & energy mutual, agency and captive reinsurance solutions practice, and the appointment of Demian Smith as managing director to lead …

More Companies Turn to Captives as Rates Rise, Terms & Conditions Tighten

Fed up with rising prices and more stringent terms and conditions for their insurance policies as a result of the coronavirus pandemic, companies are turning to in-house insurance firms. These so-called “captive” insurers are already common among large firms, with …

Captives Can Be an Insurtech Accelerator

With the immense financial and operational challenges brought on by the spread of the COVID-19 pandemic, many insurers have had to dramatically cut back on insurtech funding. Insurtech solutions were starting to help insurers improve their commercial customers’ buying and …

Washington Tells Captives for Starbucks, Alaska Air to Stop Insuring Risk

Washington Insurance Commissioner Mike Kreidler has ordered the captive insurers for two giant corporations to stop insuring risk in the state, adding to a large list of big companies whose captives have been fined by the commissioner. Kreidler ordered insurers …

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 …

Captives Remain Profitable, Outperform Commercial Insurers, Reports A.M. Best

U.S. captive insurance companies rated by A.M. Best continued their run of strong financial results in 2018, as well as their outperformance of the segment’s counterparts in the commercial casualty sector, according to an A.M. Best special report. The new …

Legacy Specialist Compre to Acquire Irish Captive Insurer Equinox CA Europe

Compre, the independent insurance and reinsurance legacy specialist, today announces it has agreed to acquire Equinox CA Europe, a captive insurer of global engineering and construction conglomerate SNC-Lavalin. The Ireland-based captive insured the activities of SNC-Lavalin’s business in France from …

Cayman Islands Issues 39 Insurer Licenses in 2016

The Cayman Islands Insurance Industry saw a “buoyant” start to 2017, with eight new insurer licenses issued in the first quarter, which followed a strong year in 2016 when 39 insurer licenses were issued, said the Insurance Managers Association of …

R&Q Acquires Captive Insurer from Fortune 500 Engine Manufacturer

Randall & Quilter Investment Holdings Ltd. (R&Q) announced the acquisition of ICDC Ltd., a captive insurer of an American Fortune 500 company, for an undisclosed sum. The name of the former parent of the captive was not released. The company, …