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PRA should balance minimum standards with tailored captive governance 

Luke Harrison
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PRA should balance minimum standards with tailored captive governance 

The PRA is right to establish minimum governance standards for UK captives, but these should not come at the expense of the ability for companies to tailor their approach to their unique circumstances, according to Julia Graham, independent non-executive director and consultant. 

The Prudential Regulation Authority (PRA) outlined its draft regulations (CP11/26) for captives in the United Kingdom on 14 July, including a new “proportionate and tailored” solvency regime, importantly, outside of Solvency UK. 

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Jeometri Insurance PCC licenced in Guernsey

Luke Harrison
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Jeometri Insurance PCC licenced in Guernsey

The Guernsey Financial Services Commission (GFSC) has granted a licence to Jeometri Insurance PCC Limited, a protected cell company (PCC) that will be managed by its subsidiary, Jeometri Insurance Managers (Guernsey) Limited.

Jeometri was purchased by asset management firm Alpha Growth in September 2024, with the company acquiring a 93% stake in Jeometri.

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Brad Schock to join Aprio as insurance tax partner

Luke Harrison
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Brad Schock to join Aprio as insurance tax partner

Aprio has hired Ohio-based Brad Schock as an insurance tax partner, with Schock set to join the firm on 10 August.

Schock will primarily focus on captives while also advising clients in the traditional insurance and reinsurance markets.

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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.

eMaxx broadens access to excess captive programme 

Luke Harrison
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Massachusetts-headquartered eMaxx has expanded its excess captive programme which is available to firms participating in a captive or large deductible structure for their underlying insurance, provided certain risk management standards have been implemented.  

eMaxx is a specialty, tech-enabled MGA and Attorney-in-Fact providing commercial property and casualty insurance and reinsurance solutions through policyholder-owned alternative risk programmes. 

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S&P 500 asset management firm launches Vermont SPFI 

Luke Harrison
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S&P 500 asset management firm launches Vermont SPFI 

A New York-headquartered S&P 500 asset management firm has formed a Vermont-domiciled special purpose financial insurance company (SPFI).  

A SPFI is used to facilitate risk securitisation via a transaction which may include capital market offerings, that are affected through agreements where the transactions are used to fund the SPFI’s obligations under a reinsurance contract. 

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Aileen Krehbiel joins Marsh as global strategic client service leader 

Luke Harrison
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Aileen Krehbiel joins Marsh as global strategic client service leader 

Marsh Risk has appointed Aileen Krehbiel as global strategic client service leader within captive solutions. 

Krehbiel will lead Marsh’s captive strategic deployment across its largest and most complex captive clients globally. 

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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.

Singapore PCC framework could lower barriers to captive ownership 

Luke Harrison
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Singapore PCC framework could lower barriers to captive ownership 
  • Permission to convert cells into standalone companies 
  • Proposed legislation would bring Singapore in line with Labuan 
  • Flexible framework supports captives and ILS 

Singapore’s proposed protected cell company (PCC) framework could lower the barriers to entry for captive insurance, making captive ownership a viable option for organisations that may have previously found a standalone captive out of reach. 

Last month, the Monetary Authority of Singapore (MAS) launched a consultation on its legislative framework for PCCs. 

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Plus Captive Swiss launched to meet demand for Swiss-based captive manager 

Luke Harrison
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Plus Captive Swiss launched to meet demand for Swiss-based captive manager 

Plus Captive Swiss was recently launched to meet demand for an independent Swiss-based captive manager, according to the company’s founder, Georg Balint. 

The firm was founded by Balint to provide captive insurance solutions, risk financing strategies, insurance programme reviews, cost optimisation initiatives, corporate risk management and alternative risk transfer services. 

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Madison sues former president Sims, outside legal counsel Quinn

Richard Cutcher
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Madison Insurance Group and its family of entities in Puerto Rico is suing its former president Mark Sims, former outside legal counsel Aran Quinn and other former employees for a “surreptitious and systematic attack” on the company.

The lawsuit, filed in the United States District Court for the District of Puerto Rico, accuses Sims, Quinn and eight colleagues of copying its business model, launching a rival company and contacting its client portfolio, in some cases while still working for Madison.

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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.

De Marchi joins Zurich UK as captive underwriter

Richard Cutcher
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De Marchi joins Zurich UK as captive underwriter

Zurich Insurance has appointed Giulia De Marchi as a senior captive underwriting manager in its United Kingdom-based team.

Based in London, De Marchi will report to Esme Gould, head of captives at Zurich Commercial Insurance UK.

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