Luke Harrison

The Cayman Islands is emerging as an alternative to Bermuda for reinsurers and captives, according to Adrian Lynch, CEO at Blue Ocean Reinsurance Group.

The Dubai International Financial Centre (DIFC) has increased the registration of insurance and reinsurance firms by 20%, including the first re-domestication of a Guernsey-based captive.

There was a gap in the Cayman Islands insurance market for Blue Ocean Reinsurance Group, the company’s CEO, Adrian Lynch, has told Captive Intelligence.

Marsh has launched Global Alternative Risk Solutions, a new practice which will encompass its  expertise in parametric solutions, alternative risk transfer, captives and complex risk.

The latest captive domicile in the United States, Iowa, has passed Bill 2636, which reduces the tax burden for captives writing premiums above $40m and $60m.

Workers’ compensation is one of the most popular lines for captives to insure in the United States, with its predictability and stability allowing captives to build surplus and write more volatile risks.

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.