The Office of the Insurance Commissioner for the state of Washington has adopted the proposed regulations of the new captive insurance law, effective 21 December 2021
Risk Strategies has acquired TriPoint Insurance, a national workers’ compensation specialist providing performance-based insurance solutions to middle-market firms in the construction, manufacturing, wholesale and skilled nursing sectors
A.M. Best has affirmed the financial strength rating of “A-” (Excellent) and the long-term issuer credit rating of “a-” (Excellent) of Sigurd Rück (Switzerland), revising the outlook of the captive reinsurer from stable to negative
Captives will need to prepare for “drastic changes” in their reporting to ensure compliance with the upcoming requirements of IFRS 17, according to Marsh
The Geneva Association has appointed Christian Mumenthaler, CEO of Swiss Re, as chairman, succeeding outgoing chairman Charles Brindamour, who will remain on the association’s board
The concessions of the Internal Revenue Service in a legal challenge of a captive insurance company have been accepted by a judge in a US Tax Court before trial
A.M. Best has affirmed the financial strength rating of “A” (Excellent) and the long-term issuer credit rating of “a+” (Excellent) of Castle Harbour Insurance and Harrington Sound Insurance, the captives of Schlumberger
Reinsurers rank climate change as the top risk facing the global insurance industry, according to PwC’s latest survey
Insurtech platform for parametric insurance solutions Arbol has launched Arbol Underwriters Ltd, a Bermuda-based registered insurance agent that pairs reinsurance capacity with parametric insurance risks
Genesis Legacy Solutions has issued its first loss portfolio transfer agreement through its Vermont cell to an affiliate of Cypress Property and Casualty Insurance Company
Vesttoo has appointed Robert Hauff as portfolio manager for the alternative reinsurance and investment platform’s insurance-linked programme
A.M. Best-rated European captives have generally been resilient to the effects of the COVID-19 pandemic and have maintained stable ratings fundamentals throughout 2021, according to the credit rating agency in a new market segment report