Luke Harrison

German telecommunications company, Deutsche Telekom, is looking to form a brand-new captive in Germany.

Volkswagen decided to redomesticate its Ireland-domiciled captive to Germany because it “makes more sense” to be closer to company’s German headquarters due to the captive soon being required to abide by IFRS 17 reporting standards.

 If the UK introduces a competitive captive regime, the jurisdiction has the potential to be a bigger domicile than France, largely due to its robust insurance ecosystem, according to Stephen Massey, insurance tax specialist at Ernst & Young (EY).

As employee benefits (EB) programmes develop and companies look to negate rising health care costs, captives can be the “perfect fit” for firms, according to MAXIS Global Benefit Network CEO, Mattieu Rouot.

The Commonwealth of the Northern Mariana (CNMI) Islands implemented its own captive legislation permitting a captive industry and captives to be licenced and domiciled in the jurisdiction.

President Donald Trump’s ongoing tariff saga has led to increasing uncertainty, inflationary pressures, and supply chain issues that are causing a headache for captives and insureds.

AIG has rehired Pierrick Livet as head of multinational, Bermuda.

AM Best has upgraded the financial strength rating to A (excellent) from A- (excellent) and the long-term issuer credit rating to “a” (excellent) from “a-” (excellent) of Vermont domiciled National Guaranty Insurance Company of Vermont (NGIC). The outlook of these credit ratings has been revised to stable from positive.