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AM Best affirms and withdraws rating of Evergreen Group 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 Bermuda-domiciled Evergreen Insurance Company Limited (EICL). 

The outlook for the ratings is stable, but AM Best has withdrawn them as the company has requested to no longer participate in the interactive rating process. 

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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.

Property and GL most popular lines for captives: Airmic

Luke Harrison
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Property and GL most popular lines for captives: Airmic

Property and general liability are the two most popular lines of business being written in captives owned by Airmic members, with more than 70% of captives writing these risks, according to the Airmic’s 2025 Captive Survey. 

Conducted in January and February of this year, the survey received 79 responses from Airmic members from a variety of sectors.  

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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.

Aon launches Employee Benefits cell captive facility through White Rock

Richard Cutcher
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Aon launches Employee Benefits cell captive facility through White Rock

Aon has launched its Employee Benefits (EB) Cell Captive facility, allowing insureds to reinsure global benefits programme through protected cell within one of Aon’s White Rock cell companies.

International employee benefits programmes have traditionally been reinsured by single parent captives, with almost 200 such programmes currently in operation.

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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.

Portelli, Serricchio and Gale Marsh’s new regional captive leaders

Richard Cutcher
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Portelli, Serricchio and Gale Marsh’s new regional captive leaders

Marsh Captive Solutions has three new regional leaders as William Thomas-Ferrand confirmed promotions for Michael Serricchio, Nick Gale and Stephen Portelli this week.

Thomas-Ferrand began his role as president of Marsh Captive Solutions on 1 January and has moved quickly to reorganise the structure and leadership.

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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.

Domicile Wars: Legislation and regulator behind North Carolina’s sharp rise

Luke Harrison
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Domicile Wars: Legislation and regulator behind North Carolina’s sharp rise
  • Board meetings not required in the state if using two approved vendors 
  • Regulator takes open minded approachtonew applicants 
  • Legislation has extended tax holiday and reduce retaliatory tax
  • Regulator has avoided a high turnover of staff

North Carolina’s flexible legislation and experienced regulatory team are two of the main drivers behind the jurisdiction’s steep climb to become one of the fastest growing domiciles in the United States over the past ten years.

Despite only introducing captive legislation in 2013, North Carolina is now the third largest domicile in the US behind Utah and Vermont, by number of active captives.

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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.

Georgia captive bill opens door to more lines of business

Richard Cutcher
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Georgia captive bill opens door to more lines of business

The newly formed Georgia Captive Insurance Council (GCIC) is supporting House Bill 348, which would be the State’s first update to its captive legislation since 2019.

Captive Intelligence reported earlier this month that the GCIC had been launched with former insurance regulator Travis Bowden elected as its first chairman.

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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.

Blackwell Captive Solutions promotes Scott Lydon to SVP, national sales

Luke Harrison
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Chicago-headquartered Blackwell Captive Solutions, a firm focused on group medical stop loss captives, has promoted Scott Lydon to SVP, national sales.

Lydon will spearhead Blackwell’s nationwide sales initiatives and oversee client management, while continuing the firm’s commitment to delivering tailored solutions that help employers control healthcare costs.

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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.

“Coordinated effort” needed for CRA to overturn micro captive regulations 

Luke Harrison
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The captive industry may be able to overturn the latest 831(b) regulations imposed by the Internal Revenue Service (IRS) using the Congressional Review Act (CRA), but a co-ordinated effort is needed from all stakeholders, according to Maggi Lazarus, attorney representing the MiniCap Coalition. 

Although the IRS made some concessions in its long-awaited final version of 831(b) regulations published in January, particularly in relation to loss ratio thresholds, industry commentators still believe it continues to target micro captives unfairly. 

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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.

North Carolina licences 33 captives in 2024 

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

AM Best affirms rating of Saudi Arabian Mining Company captive 

Luke Harrison
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0

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