All StrategicRISK Global articles in Captive Risk June 2010
View all stories from this issue.
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Online only
Aon extends PCC to Isle of Man
Protected Cell Company offers an alternative to a stand-alone captive
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InterviewsNo “significant impact” on rating of BP captive
Jupiter’s $6bn of reserves should absorb impact of Gulf oil rig accident, says AM Best
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InterviewsThinking of forming a captive? Here’s what to do
RIMS published a guide to help risk managers
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InterviewsRethink and rebuild
As companies attempt to dust themselves down after the financial crisis, what role does risk management have in the recovery? Nathan Skinner puts the big questions to Zurich Financial Services’ group chief economist Daniel Hofmann
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AnalysisCaptives urged to complete QIS5
Last call from Ferma and Eciroa for captive owners to influence Solvency II
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FeaturesAnders Carlsund, chief executive, S:t Erik Försäkring
S:t Erik Försäkring was the first public sector captive insurance company in Sweden. Based in Stockholm, it provides cover for activities run by the capital city. Nathan Skinner spoke to chief executive Anders Carlsund
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FeaturesA group activity
A new healthcare law in the USA could spark the growth of employee benefit captives, says Helen Yates
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FeaturesCaptives after the crisis
Captives proved their long-term importance as businesses held steady through the recession, writes Paul Allen. But Solvency II and other regulatory reforms could shake up its future
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OpinionKeep a cat in the bag
Angus Duncan and Robert Cannon consider why catastrophe bonds might be a viable alternative to traditional reinsurance for captives
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FeaturesBear vs bull
Their extreme conservatism may have helped captives escape the recession relatively unscathed, but is it time to take the bull by the horns and make their investments work harder? As Helen Yates is told, fortune still favours the brave
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InterviewsA chance to be heard
The captive insurance industry must speak out about the potential threat of Solvency II and press for application of the proportionality principle, says Valerie Alexander
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InterviewsCo-operation is key
Pierre Sonigo insists that captives deserve preferential treatment because of their unique role in insuring non-insurable risks and improving risk quality
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AnalysisWilling to listen
The European Commission is happy to hear the concerns of the captive insurance community about Solvency II, finds Nathan Skinner, but there is still considerable uncertainty and a lack of preparation
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FeaturesThe new pollution
Once just a ‘low likelihood’ technical concern, environmental liability is now seen as a standard business risk, moving fast up the priority list. More companies are considering using their captives
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Captive RiskDomicile, sweet domicile
Good people, short flights and a flexible regulator all help captives professionals decide on their ideal base. Liz Booth looks at the pros and cons of the main locations in Europe, and considers if being in or out of the EU is an advantage
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Captive RiskDublin
CAPTIVES 202CAPTIVE PREMIUM gross written premium (2008) €1.84bn (Dima survey)LEGISLATION various acts and statutory instruments as listed on Central Bank andFinancial Services of Ireland (CBFSI) website, including guidance note ‘Operational Guidance on Prudential Requirements Applicable toCaptive Insurance Undertakings’CAPTIVE TAX RATE 12.5%FEES no application fee; annual fee dependent on premium volumeREGULATOR ...
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Captive RiskGuernsey
CAPTIVES 343 insurers, 327 PCC cells and eight ICC cellsCAPTIVE PREMIUM £3.3bn (€3.84bn) as at 31 December 2008LEGISLATION the Insurance Business (Bailiwick of Guernsey) Law, 2002; the Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law, 2002CAPTIVE TAX RATE 0%FEES application fee of £4,370 for captive or cell company, or ...
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Captive RiskIsle of Man
CAPTIVES 143CAPTIVE PREMIUM €1.43bnLEGISLATION Insurance Act 2008 and Protected Cell Companies Act 2004CAPTIVE TAX RATE 0%FEES £4,250 (€5,030)REGULATOR Insurance and Pensions AuthorityThe Isle of Man is one of Europe’s oldest captive centres, having been a recognised captive domicile since 1982. It has had PCC legislation in place for a number ...
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Captive RiskLuxembourg
CAPTIVES 261 captives and eight direct written captivesCAPTIVE PREMIUM total premium, including professional insurers, was €6.6bn in 2008LEGISLATION amended law of 6 December 1991 on insurance sectorCAPTIVE TAX RATE 28.59% on a deferred basis FEES application €2,000; annual licence €4,000 for a reinsurer; €8,000+ for direct writer, depending on premium ...
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Captive RiskMalta
CAPTIVES* nine pure captives, 24 international third-party writers under management and eight protected cellsCAPTIVE PREMIUM* €670mLEGISLATION Insurance Business Act, Insurance Business (Companies Carrying on Business of Affiliated Insurance) Regulations 2003; and MFSA Rule 21 on Affiliated InsuranceCAPTIVE TAX RATE 35% on the captive (with opportunity of tax refunds in relation ...
