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Delaware licenses 70 captives in 2020

The Delaware Department of Insurance has revealed that the state licensed 70 new captives in 2020, including 67 conditional licenses

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Nevada’s new captive association starts work in a bid to promote industry

Nevada’s new captive association, the Nevada Captive Insurance Council, has started work on 2021 activities in a bid to promote, protect, and enhance the state as a premier US captive domicile

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Increase in manufacturing companies pursuing captives, says CIC Services

There has been an increase in manufacturing companies pursuing captive insurance as a solution to the insurance conundrum, according to Randy Sadler, a principal with CIC Services

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State Street’s captive ratings affirmed

A.M. Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” of Federated Underwriting Company (Federated), based in Colchester, Vermont

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North Carolina licenses 47 captives in 2020

North Carolina licensed 47 captive insurance companies and approved 126 cells and series in 2020, according to the North Carolina Insurance Commissioner Mike Causey

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AmTrust expands its cyber team with two new hires

AmTrust Financial Services, a global specialty property and casualty insurer, has hired Jeffrey Batt and Michelle Ingrassia within its cyber insurance team

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How will new US administration tax proposals affect captives?

RH CPAs’ Teresa Jones, Diana Hardy and Daniel Milan explain it is important to consider the possible effects of proposed tax plans likely introduced by the new Joe Biden administration

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Donald Ashwood takes on new Oklahoma captive coordinator role

The initial creation of the captive coordinator position was due to an increased emphasis on captives in the state, according to the OID

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Airmic’s annual event set to relocate to Brighton in October

Airmic is “cautiously” planning for a return to physical events in H2 2021, and for the return of its annual conference in October, which will be held in Brighton

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Washington proposes captive bill that could see $29m in back taxes and generate revenues of over $2.5m

A bill submitted during Washington State 2021 legislative session would see the creation of a framework for registering eligible captive insurers and imposing a premium tax on the risk covered by premiums allocable to the state

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Michael Colao joins AXA XL

Michael Colao has joined AXA XL as global chief underwriting officer, cyber

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Connecticut proposes captive bill amendments

After being delayed due to the COVID-19 pandemic, the Connecticut Department of Insurance has drafted a proposal concerning captive insurance for the 2021 legislative session

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