Luke Harrison

Potential cost savings and improved benefits plans for employees are the two biggest drivers behind the growing trend of companies utilising captives to reinsure international employee benefits programmes.

Texas Baptists have authorised the Baptist General Convention of Texas (BGCT) to potentially form a captive pool to provide churches access to property and casualty insurance, according to the Baptist Standard.

A growing number of medical stoss loss (MSL) group captives are forming in the United States, though a shift is expected over the coming years with groups becoming more restrictive on membership, according to Andrew Berry, president at SRS Employee Benefits.

AM Best has affirmed the financial strength rating of ‘A’ (excellent) and the long-term issuer credit rating of “a” (excellent) of Vermont-domiciled Park Assurance Company. The outlook for the ratings is stable.

AM Best has affirmed the financial strength rating of A- (excellent) and the long-term issuer credit rating of “a-” (excellent) of Vermont-domiciled Federated Underwriting Company. The outlook for the ratings is stable.

Alberta has continued to build on its early momentum with the jurisdiction now providing guidelines for captives wanting to write third-party risk, while there is also growing discourse around potential cell legislation.

An effective captive regime in the United Kingdom could accelerate growth of the country’s insurance market, according to Chris Lay, CEO of Marsh McLennan UK.

AM Best has assigned a financial strength rating of ‘A’ (excellent) and a long-term issuer credit rating of “a” (excellent) to Vermont-domiciled Torreyana Insurance Company (TIC).