Payments that Stewart’s Shops made to its captive insurance subsidiary Black Ridge Insurance Corporation (BRIC) “were not deductible premiums for determining federal taxable income”, according to the New York Tax Appeals Tribunal
A.M. Best has affirmed the financial strength rating of “A- (Excellent)” and the long-term issuer credit rating of “a-“ of UnipolRe Designated Activity Company (UnipolRe), based in Ireland
The ruling of the Avrahami vs Commissioner of Internal Revenue court case finally provides additional clarity for captives organised under Section 831(b), according to Anne Marie Towle of JLT
Customer service is key to attracting potential captive insurers to a particular jurisdiction, according to Leanne Refalko, senior captive insurance specialist at the North Carolina Department of Insurance
The US Tax Court’s decision to back the Internal Revenue Service in its dispute with Benyamin and Orna Avrahami over their micro captive should encourage those involved in similar arrangements to revisit them
The number of North Carolina’s licensed captive companies grew by 91 percent last year, while approved protected cells and series saw an increase of over 50 percent
The North Carolina Captive Insurance Association Annual Conference kicked off this week with Thomas Adams, president and CEO, thanking those in the industry who have helped make the state’s captive market the success it is today
The US Tax Court has backed the Internal Revenue Service’s decision to deny Benyamin and Orna Avrahami access to the Internal Revenue Code Section 831(b) election for certain financial years
