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Tennessee licences 22 new captives and 94 cells in 2024 

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

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

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Scott Hart, Moose International
Jason Flaxbeard, Brown & Brown
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 


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

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

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

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

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

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

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

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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.

JP Morgan captive has ratings affirmed 

AM Besthas affirmed the financial strength rating of ‘A’ (excellent) and the long-term issuer credit rating of “a” (excellent) of Vermont-domiciled Park Assurance Company. The outlook for the ratings is stable. 

Park is a single parent captive owned by JPMorgan Chase Holdings, which is a subsidiary of JPMorgan Chase & Co. (JPMorgan Chase), a leading global financial services group. 

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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 financial strength rating of State Street captive 

AM Besthas affirmed the financial strength rating of A- (excellent) and the long-term issuer credit rating of “a-” (excellent) of Vermont-domiciled Federated Underwriting Company. The outlook for the ratings is stable. 

Federated Underwriting is a single parent captive owned by State Street Corporation, one of the world’s largest financial service organisations.  

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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.

Alberta continues captive development with third-party risk, cell potential 

Alberta has continued to build on its early momentum with the jurisdiction now providing guidelines for captives wanting to write third-party risk, while there is also growing discourse around potential cell legislation. 

Since the inception of its captive statute in July of 2022, Alberta has proved a popular destination for Canadian businesses, with the jurisdiction now at 29 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.