The Captive Division of the Arizona Department of Insurance reported that, as of year-end 2014, it has 114 licensed captives, a net increase of 8 percent since the beginning of 2014. This 8 percent growth exceeded the increase of 6 captives and 6 percent growth in the prior year. Pure and pure-reinsurance captives represent 81 percent of the types of captives licensed. Group captives, including risk retention groups and association captives, comprise 13 percent of the total.
The Royal Gazette quoted the president and CEO of the Bermuda Stock Exchange (BSX), Greg Wojciechowski, as saying that “… the outstanding amount of ILS (insurance-linked securities) issued in Bermuda represents 57 per cent of the worldwide stock of ILS.”
To remain competitive payers, insurers in particular must be prepared for the changing health care landscape that is accompanying the reforms provided in the Affordable Care Act, suggests "Healthcare 2015: Find the Balance in Medical Payment Dynamics," a white paper recently published by Mitchell International, Inc., a leading provider of property and casualty claims technology solutions.
The Vermont Captive Insurance Association is offering a webinar opportunity for board members, executives, and managers to learn about the benefits of benchmarking their captive, according to the Events page on the VCIA website.
Vermont licensed 16 new captives in 2014, according to data released by the Vermont Captive Insurance Division. The new captives were made up of 10 pure captives, two sponsored, two special purpose financial insurers, one association, and one risk retention group. Two new captives were redomesticated from Bermuda and Delaware.
Those who cannot attend the World Captive Forum (WCF) February 1-4, 2015, in Boca Raton, Florida, can participate in the "Regulation and Captive Diversification" session via teleconference.
London & Capital has reported the results of its suite of proprietary indices for 2014. The indices reflect three model asset allocations that London & Capital designed to fit the investment needs of three liability profiles of captives. Each of the indices has differing allocations of U.S. high grade bonds, high yield bonds, equities, and cash.
Cyberrisk, drones, and a slowdown in U.S. captive formation top the list as Jack Gibson, International Risk Management Institute, Inc., president & CEO, makes his risk and insurance predictions for 2015.
Kane SAC Ltd (Kane SAC), a subsidiary of Kane, has announced four new issuances on its independent private catastrophe bond platform, the Kane SAC Limited Note Program. The issuances total $125,840,000.