Piko Re will be led by Steve McElhiney, vice chairman and chief commercial officer, reinsurance, who joined the firm in March.

Richard is joined by the insurance regulators currently consulting on and implementing the United Kingdom's first captive insurance regulatory regime.

David Gross will focus on expanding the reach of the company's Dealer Management Group (DMG) and Sharefield captive solutions across the Midwest and Western US.

Dorinco is a single parent reinsurance captive of Liana Limited, which is ultimately a wholly owned subsidiary of the Michigan-headquartered Dow Chemical Company.

The new unit will be run by Jason Rogers, managing director of carrier and captive solutions at the company.

Caroline Erdman joins Lockton from Hylant where she had most recently held the role of captive consultant.

AM Best also affirmed the FSR of A- (Excellent) and long-term ICR of “a-” (excellent) for Delaware-domiciled Palms Specialty Insurance Company and its reinsured affiliate, Sabal Specialty Insurance Company. The outlooks for these ratings remain stable.

Louisiana has moved to the next stage of its efforts to modernise its captive insurance framework, with the state’s Department of Insurance promulgating Regulation 139 which includes detailed rules governing captive insurers and risk retention groups (RRGS).