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BevCap Management hires David Gross as business development executive

Luke Harrison
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BevCap Management, a programme manager for casualty and medical stop-loss captive insurance companies across multiple domiciles, has appointed David Gross as business development executive.

In his new role, Gross will focus on expanding the reach of the company’s Dealer Management Group (DMG) and Sharefield captive solutions across the Midwest and Western US.

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AM Best affirms rating of Dow Chemical Company captive

Luke Harrison
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AM Best has affirmed the financial strength rating of A (excellent) and the long-term issuer credit rating of “a” (excellent) of Michigan-domiciled Dorinco Reinsurance Company (Dorinco). The outlook of credit ratings is stable.

Dorinco is a single parent reinsurance captive of Liana Limited, which is ultimately a wholly owned subsidiary of the Michigan-headquartered Dow Chemical Company.

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Sedgwick launches new carrier and captive solutions business

Luke Harrison
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Sedgwick has launched a new carrier and captive solutions business aimed at providing claims and operational support to insurers, captives and the managing general agent (MGA) and managing general underwriter (MGU) markets as more buyers turn towards these structures.

The new unit will be run by Jason Rogers, managing director of carrier and captive solutions at the company.

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Lockton hires Caroline Erdman as consultant

Luke Harrison
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Caroline Erdman has joined Lockton as a consultant, where she brings experience in captive consulting and risk financing.

Erdman joins Lockton from Hylant where she had most recently held the role of captive consultant.

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Captive Intelligence provides high-value information, industry analysis, exclusive interviews and business intelligence tools to professionals in the captive insurance market.

AM Best upgrades outlook for NextEra Energy captive to positive

Luke Harrison
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AM Best has revised the outlook to positive from stable for the long-term issuer credit rating (ICR) of Cayman Islands-domiciled Palms Insurance Company (Palms), while affirming its financial strength rating (FSR) of A (excellent) and long-term ICR of “a” (excellent). The outlook for the FSR remains stable.

AM Best also affirmed the FSR of A- (excellent) and long-term ICR of “a-” (excellent) for Delaware-domiciled Palms Specialty Insurance Company and its reinsured affiliate, Sabal Specialty Insurance Company. The outlooks for these ratings remain stable.

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Captive Intelligence provides high-value information, industry analysis, exclusive interviews and business intelligence tools to professionals in the captive insurance market.

Louisiana promulgates regulatory framework for captive insurance regime 

Luke Harrison
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Louisiana has moved to the next stage of its efforts to modernise its captive insurance framework, with the state’s Department of Insurance promulgating Regulation 139 which includes detailed rules governing captive insurers and risk retention groups (RRGS). 

The purpose of Regulation 139 is to exercise the authority and carry out the duties and responsibilities of the commissioner for implementation and regulation of the Creating Holistic Options in Coverage for Enterprise and Self-Insurance (CHOICES) Law.  

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Captive Intelligence provides high-value information, industry analysis, exclusive interviews and business intelligence tools to professionals in the captive insurance market.

Captive programme launched for fuel and propane distributors 

Luke Harrison
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Tangram Insurance Services has launched Forge Energy, a captive programme designed specifically for fuel and propane distributors. 

Forge Energy is open to distributors of retail and wholesale fuel, heating oil, liquefied petroleum gas (LPG) and compressed natural gas (CNG), gasoline and diesel, as well as carriers of refined fuel products on a limited basis. 

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Captive Intelligence provides high-value information, industry analysis, exclusive interviews and business intelligence tools to professionals in the captive insurance market.

National Grid: How a 40-year-old captive is adapting to new risks 

Luke Harrison
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National Grid: How a 40-year-old captive is adapting to new risks 
  • £70bn investment programme driving new captive opportunities  
  • Wildfire, cyber and biodiversity among emerging risks  
  • Aon partnership spans more than 40 years  

For 40 years, National Grid has used its captive, National Grid Insurance Company (Isle of Man) Limited, to “control its own destiny” when managing the group’s risks. 

What began as a way to retain risk has evolved into a strategic risk-financing tool, giving the power distributor greater control over its data, changing market conditions, and navigating new risks created by the green energy transition. 

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Captive Intelligence provides high-value information, industry analysis, exclusive interviews and business intelligence tools to professionals in the captive insurance market.

Captive Intelligence founder appointed to CICA board

Luke Harrison
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Captive Intelligence founder appointed to CICA board

Richard Cutcher, founder of Captive Intelligence and the Global Captive Podcast, has been appointed to the board of the Captive Insurance Companies Association (CICA).

Cutcher joins the board alongside Adam Binder, senior category director at Topco Associates, LLC a captive owner in Vermont.

“Adam and Richard are highly respected professionals who will bring valuable experience and distinct perspectives to the CICA Board,” said CICA President Dan Towle.

“Adam’s captive-owner experience will further strengthen the voice of CICA’s captive members, while Richard’s international industry knowledge and strong relationships in the United Kingdom will support CICA’s continued global growth. We are pleased to welcome them both to the Board.”

Cutcher launched the Global Captive Podcast in 2019 and Captive Intelligence in 2022.

“It is a real honour to be appointed to the CICA board and be given an opportunity to serve the Association in a formal capacity,” he said.

“CICA’s development under Dan and the board’s leadership since 2017 has been a real strength and attribute to our industry during a period of tremendous growth and innovation.

“I am excited to be part of the board and support cultivating a healthy, competitive and robust captive ecosystem and I hope to provide a unique and beneficial perspective to aid those efforts.”

Binder featured on the Global Captive Podcast in September 2023, discussing the company’s formation of a sponsored captive in Vermont.

Exclusive: Aon appoints new Guernsey domicile leader

Richard Cutcher
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Exclusive: Aon appoints new Guernsey domicile leader

Aon has appointed Paul Morgan as its domicile leader for Guernsey as it invests in new talent and continues its reorganisation under CEO and global captives leader Ciarán Healy.

Charlotte Proctor, meanwhile, has been appointed to a new role as client leader for Aon Captive and Insurance Management across Guernsey, the United Kingdom and the Isle of Man.

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