In this GCP Short, produced in collaboration with Friends of the Podcast Beecher Carlson, Richard addresses the boom in captive formations within America’s middle market, the different types of company structures found there and how it can impact the tax treatment and utilisation of captives in those groups.
The two expert speakers are Pete Kranz, executive managing director and captive practice leader at Beecher Carlson, and Dan Kusaila, tax partner at Crowe.
In episode 55 of the Global Captive Podcast, supported by legacy specialists R&Q, Richard is joined by Sean McGovern, CEO for the UK & Lloyd’s at AXA XL, who speaks in his capacity as a board member of the London Market Group with responsibility for the business environment including government relations.
In June 2021, the LMG published a five point plan asking for relevant regulatory and legislative changes in the UK insurance market, including plans to make London a captive domicile.
Sean discusses these plans in more detail and what advantages he thinks London would provide as a domicile.
Read the LMG’s five point plan here: lmg.london/
We also feature short clips from four interviews with new captive owners from the past 18 months. Links to the full episodes are below:
In this GCP Short, produced in collaboration with Friends of the Podcast London & Capital, we explore ESG (Environmental, Social, and Corporate Governance) and how captives’ investment strategies can be tailored to meet their parent’s ESG objectives.
Dipan Roy, London & Capital’s Deputy Chief Investment Officer, and GCP regulars Shadrack Kwasa and Chris Dalziel expertly talk us through this topic – what an ESG investment policy looks like, how it applies to captives and where it can be aligned with the captive parent.
In this GCP Explainer episode, Richard is joined by a panel of experts to explain the 16 July decision by a United States District Court in Delaware that went against the Delaware Department of Insurance and for the Internal Revenue Service, concerning the release of client-specific documents previously requested by the Service.
Mikhail Raybshteyn, Partner and Co-Leader of EY’s Captive Insurance Services, Ben Whitehouse, Senior Counsel at Butler Snow LLP, and Cassie Bachman, Managing Director of Operations and Legal at Elevate Risk Solutions, discuss the reasons why the IRS prevailed on this occasion, what happens next and the potential wider ramifications for captive owners, advisors and regulators in the United States.
To read the full order by Magistrate Judge Christopher J. Burke, click here.
In episode 54 of the Global Captive Podcast, supported by legacy specialists R&Q, Richard is joined by CICA President Dan Towle to discuss their planned Fall Forum for October 10-13, in Tuscon, Arizona. Dan also reflects on the new Washington State self-procurement tax and the return of micro-captives to the IRS’ Dirty Dozen list of tax scams.
We have a very insightful captive owner interview with Kevin Steed, Director of Group Insurance at AstraZeneca, who tells us about the long and varied history of the pharmaceutical giant’s captive strategy and how it is utilised today.
The latest quarterly investments update is provided by Friends of the Podcast London & Capital, with Shadrack Kwasa and Rabbani Wahhab concentrating on macroeconomics and inflation.
In this GCP Short, produced in collaboration with Friends of the Podcast and legacy specialists R&Q, Richard is joined by Mark Hoehn, Claims Manager within the Insurance Services Division at R&Q, and David Landrum, Vice President – National Construction & Program Business Practice Leader, at Broadspire Services, a Crawford Company.
The trio discuss the management of claims for captive legacy portfolios, explaining who ultimately bears responsibility and control after a sale or transfer, some best practices to follow and in what circumstances the original captive parent may still provide some input.
In this GCP Short, produced in collaboration with Friends of the Podcast Barclays Corporate Banking, the panel discuss what it means to be a captive insurance company customer of a bank.
Over the 15 minutes, Hafi Ali, Market Director, and Marco DeBenedictis, Head of Sustainable & Transition Finance, debate the relationships between corporate sponsor, captive and banking partner, the impact of the pandemic and how the hard insurance market has impacted collateral requirements. They also address what ESG means for captives and the broader trends in ESG and banking.
In episode 53 of the Global Captive Podcast, supported by legacy specialists R&Q, Richard is joined by Philippe Gouraud, formerly of AXA XL and AIG and now CEO of Rising Edge, Ltd.
Philippe discusses his recent experience as a captive non-executive director, the D&O market and the new boutique underwriting agency focused on directors’ and officers’ liability insurance and risk management that he launched earlier this year.
There is also a new segment from a previous GCP Short on captive ratings. Richard is joined by Daniele Zucchi, Managing Director of Sigurd Ruck, the Swiss-domiciled captive owned by Saipem, and Ghislain Le Cam, a Director of Analytics at AM Best Ratings Services. The trio discuss what impact the pandemic has had on Saipem’s captive and what ramifications AM Best has had to look out for in relation to captive ratings and the pandemic.
In this GCP Short, produced in collaboration with Spring Consulting Group, we discuss how Subaru of America has continued to adapt its captive since formation in 1988 to provide maximum value and service to the group.
Richard is joined by Karin Landry, Managing Partner at Spring, and Carol Duong, Senior Risk Analyst for Subaru of America. Karin and Carol discuss how the captive has evolved with the group, going on to write third party risks and employee benefits and ultimately moving onshore.
This GCP Short is produced in collaboration with Friends of the Podcast MAXIS Global Benefits Network. Over the course of 20 minutes Mattieu Rouot, CEO of MAXIS, and Mark Cook, Director at Willis Towers Watson, look back on more than a year of COVID-19 and the impact it has had on captive employee benefit programmes and what it might mean for the future.
We have two professionals at the very top of their game to talk us through this is in Mattieu Rouot, CEO of MAXIS, and Mark Cook, Director at Willis Towers Watson.
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