Friday, January 17, 2025

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Cayman licences 11 captives in Q4 

The Cayman Islands Monetary Authority (CIMA) issued 12 new international insurer licenses in the fourth quarter of 2024, including three B(i)s licences, eight B(iii)s, and one Class C. 

John Rowson joins ARM Guernsey as new business director

Experienced insurance manager John Rowson has joined Alternative Risk Management as new business director.

DoL confirms ERISA exemption for New York-based cancer centre

The US Department of Labor (DoL) has issued a notice of Employee Retirement Income Security Act (ERISA) exemption for New York-based Memorial Sloan Kettering Cancer Center (MSKCC), regarding a pension risk transfer to its captive.

Vermont licensed 41 new captives in 2024

Vermont’s Department of Economic Development confirmed it issued 41 new captive licences in 2024, among its highest years for new formations.

SRS Altitude enters North America with Milan Pavlik hire

SRS Altitude, the managing general underwriter (MGU) focused on alternative risk transfer solutions, has confirmed its launch into North America with the appointment of Milan Pavlik, formerly Amazon’s director of captive.

IRS finalises 831(b) regulations, concedes on loss ratio criticism 

The Internal Revenue Service has finalised the long-awaited update to its 831(b) regulations which sees the loss ratio for micro captives considered as “listed transactions” reduced to 30%, while the loss ratio for “transactions of interest” has been reduced to 60%.

Solvency II reform pushed to 2027 as text finally published

Captives domiciled in the European Union may have to wait longer than expected for regulatory relief, after the European Parliament published Directive 2025/2, amending the text of Solvency II which should bring more proportionality for “small and non-complex undertakings”.

Jesse Olsen launches Kansas City-based captive advisory firm

Captive advisory firm, GuideFire has been launched by industry veteran Jesse Olsen to provide captive advisory, management, development, formation and feasibility services for captives.

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LATEST PODCASTSLogo

GCP Short: Preparing for the 2025 captive landscape

Richard is joined by Mikhail Raybshteyn, Americas Captive Insurance Services Co-Leader at EY, and Vittorio Zaniboni, Captive & Insurance Excellence Leader for EY in Luxembourg to reflect on captive activity in 2024, and what to expect in 2025.

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In episode 115 of the Global Captive Podcast, supported by the EY Global Captive...

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Richard welcomes Anne Marie Towle, CEO of Global Risk & Captive Solutions at Hylant, and Tony Schmidt, President of Pacific Risk Solutions, LLC in Hawaii to discuss the strategic partnership between the two firms and captive developments in Japan.

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