Luke Harrison

Alliance Captive Management (ACM) recently launched ACM Advantage Protected Cell Company (PCC) because it wanted captives to be more accessible for middle-market businesses.

AM Best has revised the outlook to negative from stable for the long-term issuer credit rating (ICR) and affirmed the financial strength rating (FSR) of A (excellent) and the long-term ICR of “a+” (excellent) of Terra Insurance Company.

AM Best has affirmed the financial strength rating of ‘A’ (excellent) and the long-term issuer credit rating of “a” (excellent) of Bermuda-domiciled Ardellis Insurance.

Drake Plastics Ltd. Co. and its parent company Drake Plastic Products Inc., have filed suit in the US District Court for the Southern District of Texas, challenging what it argues are “egregiously aggressive and wrongful enforcement actions” by the Internal IRS in relation to 831(b) micro-captives.

RV rental company, RVnGO has formed a captive to provide auto-liability and property damage coverage for RV rentals booked on its website.

MAXIS Global Benefits Network has appointed Alexandre Rizk and Nannecy Dulin to director positions within its global business development team. 

Faced with escalating insurance costs, reduced market capacity, and increasingly complex global risks, auto manufacturers are rethinking their approach to risk management and increasingly adopting captives.

AM Best has revised the outlooks to negative from stable and affirmed the financial strength rating of ‘B+’ (good) and the long-term issuer credit rating of “bbb-” (good) of Tennessee-domiciled Star Mutual Risk Retention Group.