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ILS market firing on all cylinders

Q1 2017 saw $1.7 billion of non-life catastrophe bond capacity issued through five insurance-linked (ILS) securities transactions, Willis Towers Watson Securities has reported

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York Risk Services appoints chief claims officer

Patrick Walsh has been named the new executive vice president and chief claims officer of York Risk Services Group

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Court denies Notice 2016-66 injunction

The US District Court of Eastern District of Tennessee has dealt a blow to micro captives and their managers in the run-up to the 1 May deadline to comply with Notice 2016-66

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Exclusive: NCCIA weighs in as 1 May looms

The NCCIA has filed a third-party observation in support of a lawsuit in federal court seeking a temporary injunction to stop the IRS from implementing Notice 2106-66

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A.M. Best affirms National Grid captive

A.M. Best has affirmed the financial strength rating of “A (Excellent)” and the long-term issuer credit rating of “a” for the National Grid Insurance Company (NGICL), a captive of National Grid

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Cat losses estimated at $8.1 billion so far, says Macquarie

Macquarie Research’s catastrophe loss model estimates that losses for Q1 2017 currently stand at $8.1 billion, compared to $9.3 billion during the same period in 2016

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R&Q more than triples pre-tax profits in 2016

Randall & Quilter, the Bermuda-based non-life insurance investor, saw its year-end profits triple for 2016

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Capital supporting reinsurance continues to grow

Aggregate shareholders’ funds for companies making up the Willis Re index increased by 4 percent to $344.1 billion in 2016, according to a Willis report

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Great American Insurance launches motor captive facility

Great American Insurance Group has launched a captive offering aimed at motor carriers with independent contractor fleets

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A.M. Best downgrades Mountain States RRG

A.M. Best has downgraded the financial strength rating of Mountain States Healthcare (MSH) Reciprocal Risk Retention Group (RRG)

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Cayman’s captive industry sees ‘buoyant start’ to 2017

The Cayman Islands has signed off on eight new insurer licences issued in Q1 2017

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Ian Davis replaces Towle as director of financial services

Ian Davis is set to replace Dan Towle as the new director of financial services in Vermont

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