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Florida set to allow PCC formations 

Luke Harrison
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Florida is set to significantly expand its captive framework with new legislation allowing the formation of protected cell companies (PCCs). 

SB 990 formally authorises the framework for protected cell companies (PCCs) in Florida, establishing legislation on governance, formation, capitalisation, operation, and regulatory oversight. 

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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.

Alonso Tello promoted to regional director, single-parent captives, Americas at AXA XL

Luke Harrison
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Alonso Tello has been promoted to regional director, single-parent captives, Americas at AXA XL.

In January, AXA XL launched a dedicated alternative risk solutions (ARS) team in the Americas, appointing Sylvain Bouteillé, current chief underwriting officer for specialty as its 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.

Mondi becomes latest FTSE 100 firm to form Guernsey captive 

Luke Harrison
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0
Mondi becomes latest FTSE 100 firm to form Guernsey captive 

UK-based FTSE100 company, Mondi plc launched a single parent captive in Guernsey at the end of 2025. 

Mondi plc is a multinational packaging and paper group company based in Weybridge. 

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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 Sony captive 

Luke Harrison
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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 PMG Assurance. The outlook of these credit ratings is stable. 

PMG Assurance is the single parent of captive of Sony Group Corporation and writes commercial property, marine, directors and officers, cyber risk and previously employee benefits insurance for Sony and its affiliates.

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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 JPMorgan captive 

Luke Harrison
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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 Vermont-domiciled Park Assurance Company. The outlook of these credit rating is stable. 

Park is single-parent captive of JPMorgan Chase Holdings, which is a subsidiary of JPMorgan Chase & Co, 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.

Short: Keeping on top of IPT updates

Richard Cutcher
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Short: Keeping on top of IPT updates
Christophe Bourdaire, TMF Group
Richard Cutcher, Captive Intelligence

In this GCP Short, produced in partnership with IPT specialists TMF Group, Richard is joined by Christophe Bourdaire.

As captives write business around the world, particularly when on a direct basis, they have to be mindful of complex and often changing local taxes and levies in each territory that they are active.

Thankfully, there are specialists on hand that make it their business to know how to navigate and comply with these niche and sometimes confusing compliance tests.

In a 15-minute conversation, TMF’s Christophe updates listeners on some of the recent changes, additions and removals of local taxes and levies that are relevant to international insurance programmes and captives.

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.

France grants reinsurance licence to EGIS captive 

Luke Harrison
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France grants reinsurance licence to EGIS captive 

The French Prudential Supervision and Resolution Authority (ACPR) has granted its first two captive reinsurance licences of 2026. 

EGIS RE, owned by French global architecture, consulting, construction, engineering and operating firm EGIS, was granted a licence to write non-life insurance on 10 February. 

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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 revises outlook for State Street captive 

Luke Harrison
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0

AM Best has revised the outlooks to positive from stable and affirmed the financial strength rating of A- (excellent) and the long-term issuer credit rating of “a-” (excellent) of Vermont-domiciled Federated Underwriting Company. 

This single parent captive was formed and capitalised in 2019 as part of State Street’s alternative risk financing strategy in the wake of significant price firming in the insurance 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.

INTX selected by Xitus as core insurance operating system

Luke Harrison
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Texas-based INTX Insurance Software has been selected by legacy specialist Xitus as its core insurance operating system to support global run-off, LPT, IBT and captive (re)insurance operations across its subsidiaries, Xitus Bermuda, Xitus UK, Xitus Europe, including its latest acquisition of Chevron captive, Insco.

Xitus provides discontinued insurance solutions through acquisition and loss portfolio transfers and has expanded its use of the INTX platform for capital visibility across long-tail portfolios and faster execution of LPTs and acquisitions.

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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 Resources makes leadership changes 

Luke Harrison
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0

Illinois-headquartered Captive Resources has made a series of leadership updates which the firm says will further strengthen its long-term growth, alignment, and sustainability. 

As part of these updates, Mike Foley has been named vice chairman, having previously served as co-chief executive officer and president. 

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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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