The Cayman Islands has seen increased interest in captive formations as a result of Solvency II.
The Cayman Islands has not sought Solvency II equivalence, unlike its main competitor, Bermuda.
16/12/2011
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Guidelines on implementing European company law requirements on risk management, internal control and internal audit were published today.
The Federation of European Risk Management Associations (FERMA) and European Confederation of Institutes of Internal Auditing (ECIIA) compiled the publication to help companies avoid regulatory
attention.
14/12/2011
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Marsh has announced a new head of its Norwich offices today.
Keith Fenwick will lead the office after working as COO of JLT Re for five years.
14/12/2011
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A new cyber security insurance product for European insurers was launched by Chubb this week.
The product is designed to protect private and sensitive financial information or health data or internet business transactions.
14/12/2011
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Bermuda has reported an increase in Canadian captives looking to domicile in Bermuda since signing a tax agreement.
Bermuda and the Cayman Islands signed a Tax Information and Exchange Agreement (TIEA) with Canada last June, and two Canadian-parented captives have since been licensed in Bermuda.
12/12/2011
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Bermuda believes the Cayman Islands’ plan to attract Bermudian reinsures is unlikely to succeed.
The Cayman Islands’ premier, McKeeva Bush, announced the domicile’s marketing strategy last week to target Bermudian reinsures, due to a lack of growth in the market.
12/12/2011
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Swiss Re's CEO Stefan Lippe has decided to step down in 2012 after taking the position in 2009. A successor will be appointed soon.
Under Lippe’s leadership Swiss Re restored its capital strength, repaid the convertible capital instrument to Berkshire Hathaway, and regained its AA- rating with Standard &
Poor's.
12/12/2011
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A new political risk and credit trade underwriter has joined Liberty Syndicates Management a member of Liberty Mutual Group.
Peter Sprent will lead the £910m Liberty Syndicates Management global financial risks team.
12/12/2011
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The Cayman Islands is actively targeting Bermudian reinsurers to boost its slowing reinsurance industry.
Cayman Premier McKeeva Bush has designed immigration incentives to encourage specialised staff and a marketing campaign to encourage reinsurers to domicile in the Cayman Islands, rather than in
Bermuda.
09/12/2011
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Hawaii is trying to boost interest in captives and gain more business from Japan.
Last month, Hawaii insurance commissioner Gordon Ito and captive insurance administrator George Sumner hosted two captive insurance seminars in Tokyo.
09/12/2011
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A whitepaper was published on the captive opportunities for healthcare organisations in the US.
Due to the financial crisis and healthcare reforms, the healthcare industry is experiencing increasing economic and social pressure.
09/12/2011
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Proposed UK controlled foreign company rules will encourage British-parented captives and benefit US multinationals.
The chancellor of the exchequer announced the proposals on December 6.
08/12/2011
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Five Australian captives have been asked to leave New Zealand under new legislation that rules they do not have sufficient policy holders for a licence.
Under New Zealand’s new Insurance (Prudential Supervision) Act foreign insurance companies can be refused a licence unless they have a significant New Zealand asset base.
07/12/2011
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