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Owens takes over WTW’s Ireland captive practice

Richard Cutcher
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Owens takes over WTW’s Ireland captive practice

Gerard Owens has been appointed head of captive insurance management solutions in Ireland for WTW.

Captive Intelligence reported earlier this week Trevor Madden was departing Willis’ Irish office to take on the role as head of captive and insurance management solutions in APAC at WTW. Owens succeeds Madden.

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Hong Kong focused on group captives, cells and faster authorisation  

Luke Harrison
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Hong Kong focused on group captives, cells and faster authorisation  

Hong Kong is actively looking at enhancing its captive regulation to include legislation on group captives and protected cell companies (PCCs), in addition to streamlining its authorisation timeline. 

Hong Kong has been a hub of captive activity of late with the Hong Kong Insurance Authority (HKIA) granting two new captive authorisations in July, including the first owned by a Chinese Mainland privately-owned enterprise, taking the total number licensed in the jurisdiction to nine.  

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Captive Intelligence provides high-value information, industry analysis, exclusive interviews and business intelligence tools to professionals in the captive insurance market.

Funding GLP-1 ‘weight loss drugs’ could prove effective intervention – MAXIS GBN

Richard Cutcher
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Funding GLP-1 ‘weight loss drugs’ could prove effective intervention – MAXIS GBN

Employers can use GLP-1 drugs to form part of an effective intervention and prevention strategy for chronic disease, according to a whitepaper published by MAXIS Global Benefits Network.

GLP-1s – often known as weight-loss drugs – can help manage obesity and, in some cases, reduce cardiovascular risks, protect kidney health and treat other obesity-associated chronic conditions.

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Captive Intelligence provides high-value information, industry analysis, exclusive interviews and business intelligence tools to professionals in the captive insurance market.

Short: From Obesity Drug to Risk Strategy – Why Captives Need to Rethink GLP-1s

Richard Cutcher
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Short: From Obesity Drug to Risk Strategy – Why Captives Need to Rethink GLP-1s
Richard Cutcher, Captive Intelligence
Dr Leena Johns, MAXIS GBN

In this GCP Short, produced in partnership with ⁠MAXIS Global Benefits Network⁠, we explore findings from the network’s latest whitepaper on GLP-1s, often known as weight-loss drugs.

Dr Leena Johns, chief health & wellness officer at MAXIS GBN and author of the whitepaper, joins Richard to discuss the evolving demand and understanding of GLP-1s and why captives are perfectly suited to support employer’s in implementing a global GLP-1 strategy.

Read the full whitepaper ⁠here⁠.

More information and register for Global Benefits Congress, in London, on 22 October, ⁠here⁠.

Trevor Madden appointed head of captive and insurance management solutions, APAC at WTW

Luke Harrison
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Trevor Madden appointed head of captive and insurance management solutions, APAC at WTW

WTW hasappointed Trevor Madden as head of captive and insurance management solutions, Asia Pacific, effective 1 November 2026.

Based in Singapore, Madden will lead Willis’ captive and insurance management solutions business across the region.

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Captive Intelligence provides high-value information, industry analysis, exclusive interviews and business intelligence tools to professionals in the captive insurance market.

Regulatory barriers push Australia and New Zealand captives offshore

Luke Harrison
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Regulatory barriers push Australia and New Zealand captives offshore
  • New Zealand home to nine captives while two domiciled in Australia 
  • Mid-market firms face barriers to captive formation in Australia 
  • Singapore, Guernsey, Cook Islands common domiciles for NZ and Aus captives 

Australia and New Zealand have significant captive potential, with businesses facing significant challenges from natural catastrophes and limited property capacity to increasingly complex commercial risks.

Yet neither market has developed a strong domestic captive scene, with Australia currently home to just two captives, both established more than two decades ago.

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Captive Intelligence provides high-value information, industry analysis, exclusive interviews and business intelligence tools to professionals in the captive insurance market.

CIMA revokes Cayman SPC licence

Richard Cutcher
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The Cayman Islands Monetary Authority (CIMA) has revoked Class B(ii) licence of Progressive Grocers Insurance SPC, Ltd after failing to pay fees, and meet solvency and reporting requirements.

According to Ci DataHub, Progressive Grocers Insurance SPC was licensed in April 2018 and is managed by Lainston International Management, Ltd. It was already in run-off.

The regulator issued a Warning Notice on 4 June, but states the captive remains in breach in five areas:

  • failing to pay annual licence fees and accrued penalties for 2025 and 2026
  • failing to maintain a margin of solvency in accordance with prescribed solvency requirements
  • failing to maintain capital in accordance with prescribed capital requirements
  • failing to maintain the prescribed margin of solvency in each segregated portfolio
  • failing to file audited financial statements for the year ended 31 December 2024

As a result, CIMA believes the captive will be unable to meet its obligations as they fall due and had contravened provisions Insurance Act, 2010

It has revoked the Class B(ii) insurer licence of Progressive Grocers Insurance SPC, effective 1 September, with the captive having the right to appeal.

Hong Kong eyes Asian captive hub status – Steve Hutchinson 

Luke Harrison
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Hong Kong eyes Asian captive hub status – Steve Hutchinson 

Hong Kong is expected to attract both new captive formations and existing captives currently domiciled overseas as it seeks to strengthen its position as a leading captive hub in Asia, according to Steve Hutchinson, head of corporate risk & broking in Hong Kong & Macau at WTW. 

The Hong Kong Insurance Authority (HKIA) granted two new captive authorisations in July, including the first Hong Kong captive owned by a Chinese Mainland privately-owned enterprise, taking the total number licensed in the jurisdiction to nine. 

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Captive Intelligence provides high-value information, industry analysis, exclusive interviews and business intelligence tools to professionals in the captive insurance market.

Africa Finance Corporation launches Bermuda captive

Richard Cutcher
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Africa Finance Corporation launches Bermuda captive

Africa Finance Corporation (AFC) has established AFC Captive Insurance Company Ltd (AFC Captive), backed by up to USD$30m in equity capital.

The captive will initially provide insurance coverage for loans extended by AFC to its counterparties and support the continued growth of its infrastructure financing activities across Africa.

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Captive Intelligence provides high-value information, industry analysis, exclusive interviews and business intelligence tools to professionals in the captive insurance market.

SRS Altitude gets Lloyd’s Coverholder status

Richard Cutcher
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SRS Altitude gets Lloyd’s Coverholder status

SRS Altitude, the managing general underwriter (MGU) specialising in providing alternative risk transfer solutions to corporate clients and captives, has been approved as a Lloyd’s Coverholder.

SRS Altitude, launched in November 2023 by Strategic Risk Solutions, said Lloyd’s has emerged as a leading market for bespoke, innovative alternative risk solutions.

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Captive Intelligence provides high-value information, industry analysis, exclusive interviews and business intelligence tools to professionals in the captive insurance market.
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