Luke Harrison

DARAG Insurance Guernsey has completed the signing of a sale and purchase agreement (SPA) to acquire a Cayman domiciled (re)insurance captive.

AM Best has revised the outlooks to stable from negative and affirmed the financial strength rating of A- (excellent) and the long-term issuer credit ratings of “a-” (excellent) of the operating entities of Toronto-based Trisura Group and related entities.

The utilisation of group captives in the United States is expanding as companies look to share risk, according to Mark Benz, head of group captives at AXA XL.

The Cayman Islands Monetary Authority has published its captive figures for the first quarter of 2024, showing growth in the number of pure captives, segregated portfolio companies (SPCs) and group captives.

Fortree Management Services Limited (Fortree) and Reinsurance Solutions are partnering to bring together their connecting experience and expertise.

The jury verdict in favour of captive management company, RMC Group and its president and CEO, Raymond Anker, against the Internal Revenue Service (IRS) highlights there are ways micro captives can be successful in cases that have historically gone against them.

The agriculture sector provides a unique opportunity for the captive industry to help organisations mitigate rising costs in the commercial market.

The new formation of the Sprouts captive will mean the company will not be held to ransom by the commercial market, according to Mitchell Dane-Henry, senior manager of insurance programmes at the company.