News

Elizabeth Steinman, managing director of risk finance & captive consulting for the Americas at Aon, is probably involved in twice the number of captive feasibility studies than she was four years ago, with many clients revisiting the captive concept for the second time.

Erin Hackett has joined Hyland Global Captive Solutions as an account executive, having previously worked as an auditor with Crowe. Hackett worked for Crowe in Burlington, Vermont from 2015 to 2021, finishing as an audit senior manager before joining Vermont Mutual Insurance Group as controller.

THG Plc’s pure captive formation in Guernsey last year played a key role in ensuring a smooth cyber insurance renewal and has given the fast-growing group more leverage in the commercial market.

The number of captives writing cyber coverage in their programmes is “emerging as a trend”, according to Fred Eslami, associate director, alternative risk transfer and cyber security leader at ratings agency, AM Best.

AM Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” (Excellent) of Bermuda-domiciled Maxseguros EPM Ltd. The outlook for the ratings is stable.

New York and Ohio-based Authentic, an insurance platform targeting vertical software as a service (SaaS) companies, franchises, and other groups with its Captive in a Box solution and raised $5.5m in a seed round.

Airmic CEO Julia Graham believes the United Kingdom could offer a “unique proposition” for captives if a “proportionate and fit-for-purpose” regulatory environment is developed with long term commitment from the government.

A captive owner association in Singapore is being developed by PARIMA and could be the first of several such groups in the region.