Captives

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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. Now, Texas lawmakers have proposed legislation, Senate Bill 667, to enhance an already favorable regulatory environment for Texas-licensed captive companies…
Read More Texas Legislation Looks to Enhance Captive Regulatory Environment

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.

“2.228 Global reinsurance – the government announced at Autumn Statement 2014 that it…
Read More George Unleashes the Giant Peach

South Dakota recently enacted legislation that will allow insurance agents and service contract producers (e.g. motor vehicle dealer) to form captive insurance companies to insure or reinsure the risks placed by or through such agency or service contract producer. The law, which does not got into effect until July…
Read More South Dakota Enacts Law Allowing Insurance Agents and Service Contract Producers to Form Captives

Public Act No. 14-6 (the “Act”), which would amend Connecticut’s captive law, has passed both the Connecticut State Senate and House of Representatives, and is on its way to Governor Malloy’s desk for signature. …
Read More CT Seeks to Amend Captive Insurance Law in Continued Effort to Attract Captives

The U.S. Department of Labor (“DOL”) has given final approval for Intel Corp. to use its Hawaii-based captive insurer to reinsure group term life insurance and accidental death and dismemberment policies issued by Minnesota Life Insurance Co. …
Read More U.S. Department of Labor Gives Final Approval for Intel Corp. to Use its Hawaiian Captive Insurer to Fund Certain Employee Benefit Risks