The U.S. captive insurance market segment continued to generate profits and surplus gains in 2021 while outperforming the commercial market, according to a new AM Best report. The Best’s Special Report, “U.S. Captive Insurance: Stepping In Amid Capacity and Pricing …
The Alabama Department of Insurance has updated a number of regulations in keeping with the National Association of Insurance Commissioners’ model regulations and recommendations from the Insurance Institute for Business and Home Safety. Some of the rules, which take effect …
The battle for the captives continues. Not long after Tennessee regulators this year bragged about the number of captive insurers domiciled in the state, the jurisdiction next door has taken steps to encourage more captives to relocate there. North Carolina …
A bill to provide a framework to captive insurers doing business in Washington became law after Gov. Jay Inslee signed the legislation on Wednesday. Second Substitute SB 5315, which was requested by Insurance Commissioner Mike Kreidler and sponsored by Sen. …
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 & 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 …
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 …
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 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 …
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 …
