News

The Vermont Captive Insurance Association (VCIA) has announced Ian Davis, senior vice president of captive insurance at M&T Bank, will succeed Kevin Mead as president of the Association from 1 September.

The Hong Kong Insurance Authority (HKIA) has granted authorisation to SAIC Motor Insurance, a captive owned by the SAIC Motor Corporation. 

Involving a captive in an international programme can optimise structure and reduce the total cost of risk, if executed effectively, according to Jelto Borgmann and Kerstin Kader, of HDI Global.

Insurance intermediary, Specialist Risk Group (SRG) has completed the acquisition of German broker Ecclesia’s businesses in the Netherlands and Belgium.

Propriety Insurance Advisors has formed a strategic partnership with Grid151 in an attempt to accelerate growth in title insurance uptake among real estate captives.

Credit rating agency Fitch is warning the UK government that a new, proportionate captive regime could lead to “growing pockets of risk” accumulating “outside the core regulated insurance sector” and increasing systemic risk.

The group captive concept has become so popular in the United States that more brokers and sub brokers are having to set up their own alternative offering to avoid being left behind, according to Rob Collins, captive segment leader and managing director at Guy Carpenter.

WTW expects to manage up to five captives in France by the end of the year, according to Edwina Leclere, associate director of captives and insurance management solutions for France.