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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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0

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.

Ohio State gives green light to Vermont captive formation 

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

Tennessee licences 22 new captives and 94 cells in 2024 

Luke Harrison
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0

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

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

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