Although Hawaii has not added the same headline number of new captives in recent years compared to some other US domiciles, its existing portfolio continues to increase in sophistication and premium volume.
While the captive market has seen unprecedented numbers of new formations over the past four years, it is important for owners to assess how to position the captive as the market softens.
Jill Miura, partner at KMH LLP, has been recognised by the HCIC’s David Kahaulelio Individual Award of Excellence for 2024, presented at the HCIC Forum in Hawaii, while the Captive Insurance For Public Agencies Limited (CIPA) received the Company Award of Excellence.
The decision by the Internal Revenue Service (IRS) to include micro captive regulation in its 2024-2025 priority guidance shows that the IRS is still planning to “move forward” with its proposed regulations, according to Bailey Roese, partner at Dentons, Bingham Greenebaum.
Geographically situated off the coast of Borneo in Malaysia, Labuan International Business and Financial Centre (Labuan IBFC) has been operating as Asia’s premier international financial hub for almost 35 years.
The member driven model of PCH Mutual provides the captive with an advantage over its competitors, according to the risk retention group’s (RRG) CEO and president, Julie Bordo.
The Cayman Islands Monetary Authority (CIMA) issued five new international insurer licences in the third quarter of 2024, taking its total of new licences for the year to 29.
Will Thomas-Ferrand, international practice leader at Marsh Captive Solutions, will assume leadership of the intermediary’s captive insurance business on 1 January 2025.
Blue Ocean Re has appointed Nico Kleine Punte to oversee the group’s accounting operations, in addition to hiring Derek Shanahan as senior vice president and account executive, and Nancy Manyange as reinsurance accountant.
Although having a limited direct impact on captives, the recent CrowdStrike incident will likely lead to more companies assessing the possibility of utilising their captives to write cyber risk.
Richard visits Abu Dhabi to talk to stakeholders with a vested interest in the captive domicile, including a local captive owner, the regulator and consultants at Aon.
Richard is joined by AXA XL's Owen Williams and Vicky Roberts-Mills to discuss the energy transition, the related insurance challenges and the role for captives to support their parents.