News

A New York-headquartered S&P 500 asset management firm has formed a Vermont-domiciled special purpose financial insurance company (SPFI).

The firm was founded by Balint to provide captive insurance solutions, risk financing strategies, insurance programme reviews, cost optimisation initiatives, corporate risk management and alternative risk transfer services. 

Madison Insurance Group and its family of entities in Puerto Rico is suing its former president Mark Sims, former outside legal counsel Aran Quinn and other former employees for a “surreptitious and systematic attack” on the company.

Zurich Insurance has appointed Giulia De Marchi as a senior captive underwriting manager in its United Kingdom-based team.

The negative outlooks reflect AM Best’s expectation that the parent company will continue to experience negative pressure driven by global economic conditions and US tariff policy.

The NextGen crop insurance pilot, led by the Resilience in Agriculture Lending and Insurance Coalition (RALIC), will use the captive to give farmers more control over how supplemental coverage is designed and priced. 

The Texas Comptroller of Public Accounts has launched a temporary amnesty programme for unauthorised insurance premium tax, offering non-admitted captives an opportunity to voluntarily resolve potential Texas tax exposure.  

The Norwegian Football Federation, Norges Fotballforbund (NFF), has formed its own single parent captive in Norway.