Tuesday, March 28, 2023

Regulation

Isle of Man authorises first Insurance SPV

Thomas Miller Captive Management will manage the Isle of Man’s first insurance special purpose vehicle (ISPV) after the Financial Services Authority approved a licence for Ilex Global Reinsurance Company...

Italian corporates begin move to re-domesticate European captives

Italian-owned captives have begun the process of re-domesticating back to Italy after negotiations with the regulator IVASS neared agreement.

Group and cell captives on legislative agenda for TxCIA

The Texas Captive Insurance Association (TxCIA) is keen to see legislation that would allow cell and group captives to be formed within the domicile, sources have told Captive Intelligence.

New Cayman regulation will require “beefing up” of captive investment documentation

The Cayman Islands' new rules for investment activities of insurers will come into effect from February 2023.

New French regime “could triple” captive number in France

Captives are not new to France, with five new establishments in the past two years but updated legislation is expected to boost numbers.

“International discussion” requested for captive board criteria

The requirements of captive boards and independent directors varies from domicile to domicile but a global standard may be useful to enhance governance of captive insurance.

Cayman Islands Monetary Authority imposes regulatory fines on Artex

The Cayman Islands Monetary Authority (CIMA) has imposed discretionary administrative fines totalling CI$95,409.11 on Artex Risk Solutions (Cayman).

Protected Cell Companies – 25 years in

Guernsey’s success was soon emulated around the world with numerous variations of the cellular vehicle springing up, first in other international insurance domiciles, and latterly onshore notably in the US and UK.

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