Luke Harrison

AM Best has affirmed the financial strength rating of ‘B++’ (Good) and the long-term issuer credit rating of “bbb” (Good) of Switzerland-domiciled Kot Insurance Company AG. The outlook for the ratings is stable.

Interest around parametric insurance is growing, but the actual quote-to-bind ratio for these policies is still relatively low, Chris Sutton, partner in speciality broking at McGill & Partner, told Captive Intelligence.

AM Best has affirmed the financial strength rating of ‘A’ (excellent) and the long-term issuer credit rating of “a” (excellent) of Ireland-domiciled Eni Insurance Designated Activity Company (EID).

Meta Platforms Inc, the parent company of Facebook and WhatsApp, is awaiting a decision from the Department of Labor to authorise an Employee Retirement Income Security Act (ERISA) exemption to allow its captive to reinsure certain US employee benefits.

A collaboration between property developers, insurers, and technical experts has led to the launch of the UK’s first Commercial Timber Guidebook.

Exolum’s Luxembourg-domiciled captive was primarily established to address a future lack of capacity in the commercial market, Mario Ramirez, risk & assets manager at Exolum, told Captive Intelligence.

The new checklist for ‘Completing and Submitting (Re)Insurance Authorisation Applications’together with the‘Updated Guidance on Completing and Submitting (Re)Insurance Authorisation Applications’issued by the Central Bank Ireland (CBI) are both likely to speed up the process for licensing new captives in Ireland.

There are currently around five Spanish companies exploring the possibility of forming captives, Anna-Marie Jarvis, head of commercial insurance Spain at Zurich, told Captive Intelligence.