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Isle of Man regulator consulting on “easier to use” captive language 

Luke Harrison
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The Isle of Man Financial Services Authority is inviting feedback on proposed updates to its Insurance Regulations 2025. 

Under the Insurance Act 2008, before making the proposed regulations, the Authority is required to consult with the Treasury and other organisations and persons that are likely to be affected by the proposed regulations. 

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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.

OPEN RISK DATA Association established

Luke Harrison
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The OPEN RISK DATA Association e.V. has been formed with the aim of enhancing the exchange of large corporate insurance risk data.

The large corporate insurance industry has often struggled with unstructured data in the pre-bind and post-bind phase of managing complex risks, and the Association hopes to drive efficiencies in this 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.

Phillips 66 captives get ‘Excellent’ rating affirmed 

Luke Harrison
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AM Best has affirmed the financial strength ratings of ‘A’ (excellent) and the long-term issuer credit ratings of “a” (excellent) of Vermont-domiciled Spirit Insurance Company and Cayman-Islands Radius Insurance Company. The outlook for the ratings is stable. 

Spirit and Radius are captives owned by Texas-based energy multinational, Phillips 66, and are both managed by Marsh. 

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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 Enel captive

Richard Cutcher
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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 Italy-domiciled Enel Reinsurance – Compagnia di Riassicurazione S.p.A. (Enel Re).

The parent of the captive is Enel S.p.A. a multinational electric utility company based in Italy.

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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.

Malta’s HighDome PCC targeting healthy business growth

Luke Harrison
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The primary aim of HighDome PCC is to help companies utilise captives to enhance their overall business strategies rather than to simply reduce their premium spend, according to Javier Mirabal, executive director at HighDome.

HighDome is an independent (re)insurance company based in Malta providing rent-a-captive services to clients.

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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 ITOCHU captive

Richard Cutcher
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0

AM Best has affirmed the financial strength rating of ‘A-‘ (excellent) and the long-term issuer credit rating of “a-” (excellent) of Bermuda-domiciled NEWGT Reinsurance Company (NEWGT). The outlook for the ratings is stable.

NEWGT is a wholly owned subsidiary and captive insurer of ITOCHU, one of Japan’s largest general trading companies.

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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.

French success should inspire UK effort, but ambition must not be limited

Richard Cutcher
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French success should inspire UK effort, but ambition must not be limited
Richard Cutcher, Founder and Editor of Captive Intelligence and the Global Captive Podcast.

France’s dramatic entrance into the captive market has been the standout captive story of 2023 and 2024, and the United Kingdom has a similar opportunity if the government grasps it in 2025.

I will forgive our non-European readers for tiring of our focus on captive developments in France and the UK over the past 18 months, but the French initiative in particular has produced an unprecedented growth story for a new European captive domicile.

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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 #115: FERMA Forum 2024, Italian developments and new domiciles

Richard Cutcher
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Stephen Cross, McGill & Partners
Chris Sutton, McGill & Partners
Laurent Nihoul, FERMA & ArcelorMittal
Enrico Guarnerio, SRS Italy

In episode 115 of the Global Captive Podcast, supported by the EY Global Captive Network, Luke brings a report from the FERMA Forum 2024, held in Madrid in October.

01.03 – 03.21: Stephen Cross and Chris Sutton, at McGill & Partners, discuss captive trends in Europe and reinsurance strategies.

04.07 – 09.30: Enrico Guarnerio, CEO of Strategica Group and president of SRS Italy, explains the latest developments in Italy and the potential of the domicile should the government and regulator create a bespoke captive regulatory regime.

09.47 – 14.28: Laurent Nihoul, chair of FERMA’s captive initiative and group head of insurance at ArcelorMittal, gives his opinion on the domicile proliferation trend in Europe.

14.45 – 19.43: Maurizio Castelli, CEO or Augustas Risk and former FERMA president, discusses the global risk challenges facing organisations and the growing role for captives and alternative risk transfer.

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Italian captive regime required to allow local market to “explode” 

Luke Harrison
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Italian captive regime required to allow local market to “explode” 

Should the Italian regulator introduce specific captive legislation there could be between eight to 10 captives re-domesticate to the jurisdiction, according to Enrico Guarnerio, CEO of Strategica Group and president of SRS Italy. 

Captive Intelligence reported in September Strategic Risk Solutions had partnered with Strategica Group to form SRS Italy, billed as the first specialised insurance management company in the domicile and led by Enrico Guarnerio. 

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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.

SRS continues Luxembourg expansion  

Luke Harrison
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Strategic Risk Solutions (SRS) has confirmed the hire of Alain Sougnez to its Luxembourg office as an additional licenced captive manager, and made three additional appointments.

Captive Intelligence reported earlier this month that Sougnez had left Risk and Reinsurance Solutions (2RS) after 19 years to join SRS as client services leader. 

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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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