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There is substantial opportunity for captives to play a bigger role on the African continent according to Krishna Bheenick, managing director at Africa Specialty Risk (ASR).

Jaguar Land Rover formed a pure captive in Guernsey last year, and has begun reinsuring customer motor policies in the United Kingdom.

Luxembourg licensed seven new reinsurance companies in 2024, while five surrendered their licences, taking its year-end total to 197.

The Cayman Islands Monetary Authority (CIMA) issued 12 new international insurer licenses in the fourth quarter of 2024, including three B(i)s licences, eight B(iii)s, and one Class C. 

Japanese multinational TDK Corporation has formed a reinsurance captive in Luxembourg, managed by Strategic Risk Solutions.

Experienced insurance manager John Rowson has joined Alternative Risk Management as new business director.

Despite the Internal Revenue Service making some concessions in its long-awaited final version of 831(b) regulations, particularly in relation to loss ratio thresholds, industry commentators believe it continues to target micro captives unfairly, with one legal challenge already filed.

The US Department of Labor (DoL) has issued a notice of Employee Retirement Income Security Act (ERISA) exemption for New York-based Memorial Sloan Kettering Cancer Center (MSKCC), regarding a pension risk transfer to its captive.