Captives Archives - Page 2 of 4 - Insurance & Reinsurance

Captive Insurance Arrangements Taking Advantage of Section 831(b) Election May Be Required to Report to the IRS

by Christopher Flanagan | Nov 10, 2016 | Captives | United States

The Internal Revenue Service on November 1 issued Notice 2016-66, which requires information reporting with respect to certain insurance or reinsurance transactions involving captive insurance companies that claim the benefits of an election under Section 831(b) of the Internal Revenue Code available to certain small insurance companies, often referred to as micro-captive transactions.

Congress Expands and Tightens Section 831(b) Small Insurance Company Election

by Christopher Flanagan | Jan 8, 2016 | Captives, Industry Developments, Tax Related Developments

On December 18, 2015, Congress enacted the Protecting Americans from Tax Hikes Act of 2015, making, among other items, several significant changes to the provisions of Internal Revenue Code Section 831(b), which provides generally favorable tax treatment for electing small insurance companies.

Tennessee Issues Bulletin Re Reinsurance Ceded to Unauthorized Reinsurers by Tennessee Captives

by Benjamin Sykes | Oct 29, 2015 | Captives

The Tennessee Department of Commerce and Insurance recently issued a bulletin providing guidance to the Tennessee captive insurance industry on credit for reinsurance obtained by Tennessee captives from unauthorized reinsurers.

NAIC Proposes Changes to Life Insurer Disclosure Requirements and Treatment of Investment Affiliates

by Zachary Lerner | Oct 14, 2015 | Captives, Industry Developments, Life Insurance & Annuities

This month, the NAIC set forth a variety of proposals relating to changes risk-based capital (“RBC”) requirements, as well as treatment of investment affiliates. In particular, the NAIC seeks to require life insurers to actively disclosure how the use of captives to manage their A-XXX risks would impact the insurer’s RBC.

Legislation Reintroduced to Clarify Application of NRRA to Captives

by Christopher Flanagan | Jul 8, 2015 | Captives, Federal Legislative Developments, Tax Related Developments

As discussed in our earlier article on the topic (a copy of which can be accessed here) and our prior entry on this site (which can be accessed here), uncertainty remains over whether the self-procurement tax and regulatory provisions of the Non-admitted and Reinsurance Reform Act, enacted as a part of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, apply to non-admitted insurance procured from a captive insurance company.

NAIC Panel Approves Draft Captive Accreditation Standards

Jun 1, 2015 | Captives, Regulatory

The NAIC Financial Regulation Standards and Accreditation Committee recently approved revisions that will impact some captives reinsuring XXX/AXXX reserves, variable annuities and long-term care products.

Proposed Tax Regulations Issued on PFIC Rules for Insurance Companies

by Christopher Flanagan | Apr 29, 2015 | Captives, Reinsurance, Tax Related Developments

The Internal Revenue Service late last week issued proposed regulations addressing what constitutes the “active conduct of an insurance business” for purposes of the passive foreign investment company (“PFIC”) rules.

New Georgia Captive Law Lowers Taxes Among Other Changes

by Benjamin Sykes and Brian Casey | Apr 14, 2015 | Captives, Regulatory, Reinsurance

On April 9, 2015, the Georgia legislature sent a bill to the governor for his signature that would improve the regulatory environment for captive formation in the state.

Texas Legislation Looks to Enhance Captive Regulatory Environment

by Christopher Martin and Jon Gillum | Apr 9, 2015 | Captives, Regulatory, Reinsurance

In 2013, Texas enacted legislation authorizing captive insurance companies to be domiciled in Texas for the first time, with the first Texas captive becoming licensed on March 17, 2014.

George Unleashes the Giant Peach

Mar 19, 2015 | Captives, Catastrophe Claims, Coverage & Claims, Excess and Surplus Lines, Industry Developments, Insurance Linked Securities (ILS), Life Insurance & Annuities, Lloyd's, Regulatory, Reinsurance, Solvency II

The global stock of insurance linked securities at the end of 2014 was approaching $25.2 billion. Yesterday George Osborne unleashed the giant peach for the United Kingdom in a seemingly measured statement but one full of promises.

Topic: Captives

Captive Insurance Arrangements Taking Advantage of Section 831(b) Election May Be Required to Report to the IRS

Tennessee Issues Bulletin Re Reinsurance Ceded to Unauthorized Reinsurers by Tennessee Captives

NAIC Proposes Changes to Life Insurer Disclosure Requirements and Treatment of Investment Affiliates

NAIC Panel Approves Draft Captive Accreditation Standards

New Georgia Captive Law Lowers Taxes Among Other Changes

Texas Legislation Looks to Enhance Captive Regulatory Environment

George Unleashes the Giant Peach

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