The report notes that 40 new international insurers licenses were issued within 2024, which included one Class D open market reinsurer

The new appointment comes after a 25-year tenure at the company, where Diane Hanson has served in a number of roles including accounting executive

The Vermont Captive Insurance Association (VCIA) has launched a rebrand featuring an updated logo, tagline and website, as it celebrates its 40th anniversary this year

Missouri Governor-elect Mike Kehoe has appointed Angela L. Nelson as director of the Department of Commerce and Insurance (DCI), effective from 1 March

The Internal Revenue Service (IRS) has published its regulations on micro-captive listed transactions and transactions of interest

“Given the severity of recent wildfires in Los Angeles, the reinsurance market in California is expected to become even more challenging,” says Ming Li, partner, EVP, and global head of catastrophe modelling at Acrisure Re

Participants were tasked with exploring how captive insurance can serve as a cost-effective alternative for managing emerging and evolving risks

The state licensed 41 new captive insurance companies last year, bringing the total number of licensed captives to 683, of which 654 are active and 29 dormant

Previously, Joshua Bicknell was director of captive initiatives at GPW and Associates

The ongoing wildfires in the Los Angeles area are expected to generate insured losses surpassing historical highs but are unlikely to affect the ratings of property and casualty (P&C) (re)insurers

The facility, underwritten by QBE Insurance Group and AXA XL, offers an insurance capacity of up to US$15 million

Greg Mitchell of Aureum Re will serve as chair, with Faramarz Romer of Greenlight Re as vice chair