Luke Harrison

Italian oil major Eni S.p.A. has established Eni Energy Italy S.p.A. making it the third captive to be domiciled in Italy, following Enel and Prysmian that were licensed in 2023.

The decision by the Internal Revenue Service (IRS) to include micro captive regulation in its 2024-2025 priority guidance shows that the IRS is still planning to “move forward” with its proposed regulations, according to Bailey Roese, partner at Dentons, Bingham Greenebaum.

Will Thomas-Ferrand, international practice leader at Marsh Captive Solutions, will assume leadership of the intermediary’s captive insurance business on 1 January 2025.

Blue Ocean Re has appointed Nico Kleine Punte to oversee the group’s accounting operations, in addition to hiring Derek Shanahan as senior vice president and account executive, and Nancy Manyange as reinsurance accountant.

Although having a limited direct impact on captives, the recent CrowdStrike incident will likely lead to more companies assessing the possibility of utilising their captives to write cyber risk.

The Internal Revenue Service has announced plans to release the text of the 2024-2025 priority guidance, which includes plans to finalise its micro captive regulations.

There is enormous growth potential for captives in Asia, and China in-particular, according to Gloria Chan, senior manager of market development at the Hong Kong Insurance Authority.

Artex Risk Solutions has acquired RIBV Holdings, and its subsidiaries, collectively doing business as Risk International. Terms of the transaction were not disclosed.