North Carolina licences 33 captives in 2024

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February 25, 2025

North Carolina licensed 33 new captives in 2024, taking the total number of captives in the jurisdiction to 293.

Among the 33 new captives, 26 are pure captives, four are protected cell companies (PCCs) and three are special purpose captives.

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AM Best affirms rating of Saudi Arabian Mining Company captive

Luke Harrison

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February 25, 2025

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AM Best has affirmed the financial strength rating of B++ (good) and the long-term issuer credit rating of “bbb+” (Good) of UAE-domiciled Ma’aden Re Limited (MRE). The outlook for the ratings is stable.

MRE is a captive reinsurer a single parent captive owned by Saudi Arabian Mining Company (Ma’aden) and established in November 2021. It is managed by Marsh, according to Ci DataHub.

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Ohio State gives green light to Vermont captive formation

Luke Harrison

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February 24, 2025

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The Ohio State University Board of Trustees has approved the formation of a single parent captive in Vermont.

The Trustees met on 19 February to grant the approval, stating that a captive was necessary to manage and mitigate risks, enhance cost efficiency, and improve the overall control of the insurance programme and process for the university.

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Tennessee licences 22 new captives and 94 cells in 2024

Luke Harrison

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February 24, 2025

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The Tennessee Department of Commerce & Insurance’s (TDCI) captive insurance section licenced 22 captives, including 11 PCCs, in 2024.

The 22 new captives include 10 pure captives, one association captive, and 11 protected cell companies (PCCs), according to the State’s captive listing.

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GCP #119: Moose International, legacy strategies and Hawaii’s Andrew Kurata

Podcasts

Richard Cutcher

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February 23, 2025

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GCP #119: Moose International, legacy strategies and Hawaii’s Andrew Kurata

Scott Hart, Moose International

Ryan Heyrana, Brown & Brown

Andrew Kurata, State of Hawaii

In episode 119 of the Global Captive Podcast, supported by the ⁠EY Global Captive Network⁠, Richard brings three discussions recorded at the ⁠Hawaii Captive Insurance Council⁠ (HCIC) in October 2024.

02:28 – 12:49: Moose International CEO Scott Hart and CFO Joe Mech discuss the origins and risk profile of the Moose, how its captive has evolved and potential plans for the future.

Moose International is a membership organisation with more than 900,000 members across the United States and Canada with over a 1,000 lodges.

13:26 – 21:57:⁠Brown & Brown’s⁠ Jason Flaxbeard and Ryan Heyrana to discuss why legacy solutions are becoming increasingly relevant to captives and how they can be executed effectively.

22:32 – 30:22: Andrew Kurata, Captive Insurance Administrator for the State of Hawaii, explains a bit more about the profile and growth of the domicile.

In October 2024, we released a GCP Short featuring three Hawaii captive owners and HCIC board members David Beyer, director of risk management at Alaska Airlines, Elaine Ziemba, CRO and SVP for Stanford Medicine, and Matt Reece, CFO of Webcor. Listen to that episode ⁠here⁠.

For the latest news, analysis and thought leadership on the global captive market, visit ⁠Captive Intelligence⁠ and sign up to our ⁠twice-weekly newsletter⁠.

Costs saving and improved benefits behind EB captive drive

Luke Harrison

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February 20, 2025

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Costs saving and improved benefits behind EB captive drive

Captives provide D&I benefits not available on commercial market
Financial benefits no longer key driver behind EB captive use
Geographical risk spread important for EB success

Potential cost savings and improved benefits plans for employees are the two biggest drivers behind the growing trend of companies utilising captives to reinsure international employee benefits programmes.

According to a recent Mercer Marsh report, health benefit costs per employee in the United States are expected to rise by 5.8% on average in 2025.

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Thomas-Ferrand sees client service as key to new Marsh leadership role

Richard Cutcher

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February 19, 2025

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Thomas-Ferrand sees client service as key to new Marsh leadership role

William Thomas-Ferrand, the newly installed president of Marsh Captive Solutions, is keen to bring the full breadth of Marsh McLennan’s expertise to its clients as captives continue to evolve and seek more innovative and ambitious programmes.

Thomas-Ferrand began his new role on 1 January, having spent more than 20 years in Marsh’s captive business including positions in Bermuda and as head of office in Malta.

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Baptist General Convention of Texas to form captive pool for P&C risk

Luke Harrison

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February 19, 2025

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Texas Baptists have authorised the Baptist General Convention of Texas (BGCT) to potentially form a captive pool to provide churches access to property and casualty insurance, according to the Baptist Standard.

After several carriers left the Texas market many churches have been unable to renew their policies or have faced steep pricing increases.

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MSL group captives to increase with more “tightly controlled” groups anticipated

Luke Harrison

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February 19, 2025

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A growing number of medical stop loss (MSL) group captives are forming in the United States, though a shift is expected over the coming years with groups becoming more restrictive on membership, according to Andrew Berry, president at SRS Employee Benefits.

Medical stop loss captive use has increased in recent years largely due to spiralling medical costs in the commercial market.

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GCP #118: William Thomas-Ferrand, Marsh Captive Solutions’ new president

Podcasts

Richard Cutcher

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February 17, 2025

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William Thomas-Ferrand, Marsh Captive Solutions

Richard Cutcher, Captive Intelligence

In episode 118 of the Global Captive Podcast, supported by the EY Global Captive Network, Richard is joined by one of the new leaders of our industry – William Thomas-Ferrand, who is now ⁠president of Marsh Captive Solutions⁠.

Will, having spent more than 20 years working with captives and in numerous domiciles with Marsh, has succeeded Ellen Charnley in leading the world’s large captive manager, so Richard sat down with him in London to find out how he plans to approach the role.

They discuss the priorities when managing such a large portfolio of domiciles and clients, collaborating with other business units in Marsh McLennan and, of course, the fast evolving domicile landscape, particularly right now in Europe.

For the latest news, data-driven analysis and thought leadership on the global captive market, visit ⁠Captive Intelligence⁠ and sign up to our ⁠twice-weekly newsletter⁠.