Beach & Associates has hired Warren Berkstresser as senior vice president of its US reinsurance division, Beach Re

Trucept has revealed its plans to accelerate growth through the set-up of a captive insurance company

In addition to surplus lines policies purchased directly from non-admitted insurance companies, premiums paid to a captive insurance company must also be reported on Form IG255

The deal will see 2RS acquire the Luxembourg client portfolio of insurance and reinsurance captives from Sogecore SA and Sogecore France SARL

Anthony Lyons has been appointed as executive vice president and leader of a new portfolio solutions underwriting division of Ascot US

Rebecca Hale will be responsible for captive management operations in Washington DC, Delaware and New Jersey

The US Senator for Colorado Cory Gardner has called for the Internal Revenue Service, to suspend its review of tax benefits claimed by micro captives until resolution of the current litigation in the US Court of Appeals for the Tenth Circuit

Gerald Gakundi has been promoted to director, supervision of insurance at the Bermuda Monetary Authority

Offshore micro captive insurance products were listed as a potential “abusive tax scheme” in a study by the US Government Accountability Office

Legacy acquirer DARAG has completed a novation agreement with Cayman reinsurer to provide finality for its US liability books, with the transaction value in excess of $40 million

Korean Re Switzerland, Korean Re’s newly established European reinsurance subsidiary, has gone live with Eurobase Synergy2 platform

A.M. Best has downgraded the financial strength rating to A- from A and the long-term issuer credit rating to “a-” from “a” of Delvag Versicherungs-AG, based in Germany