All Editorial articles – Page 51
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InterviewsUK swine flu response was good
An official inquiry finds that the UK was well prepared for the swine flu pandemic
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InterviewsWhy risk managers need a higher profile
Craig Ferri says risk managers now have an ideal window of opportunity to make their voices heard and their practices adopted
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InterviewsInfographic: Swine flu cases and timeline
The UK’s response to swine flu was based on a massive overestimation of possible victims of swine flu
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Online onlyNasa satellite tracks Gulf oil leak
This satellite picture shows the size of the Gulf oil slick
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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 ...
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Captive RiskSweden
CAPTIVES 50 non-life captivesCAPTIVE PREMIUM circa SEK1,087m (€112m)LEGISLATION Insurance Business Law 1982; Regulation of Insurance Business 1982:790; Law of Annual Statement for Insurance Companies 1995:560; Insurance Contract Law 2005:104CAPTIVE TAX RATE flat rate tax system: 26.3%. Tax deferral due to equalisation reserves possibleFEES application fee SEK110,000; registration fee SEK2,000; and ...
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Captive RiskSwitzerland
CAPTIVES 48 (at end of 2008, according to independent supervisory authority Finma)CAPTIVE PREMIUM CHF273.8m (€197m) at end of 2008LEGISLATION Swiss Federal Law on the Supervision of Insurance Companies and Financial Market Authority 2007CAPTIVE TAX RATE 0%FEES CHF3,000, but dependent on complexity of caseREGULATOR Swiss Financial Market Supervisory AuthoritySwitzerland has close ...
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InterviewsKPMG publishes compliance guide for Bribery Act
Implementing anti-bribery and corruption policies can help build more sustainable businesses, says KPMG
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Online onlyMore Icelandic eruptions likely, experts say
Since the eruption of Iceland’s Eyjafjallajökull, there has been speculation about the triggering of its larger neighbour, Katla. Recent research from scientists at the UCL Institute for Risk and Disaster Reduction warn this is a strong possibility. The ‘post-mortem’ into the eruption concludes that if any future eruptions combine with ...
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InterviewsFerma leader wins risk management award
The Dutch risk management association rewarded Peter Den Dekker
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Online onlyHurricane Alex strikes Mexico
Texas escapes Alex’s wrath, biggest risk now is the heavy rainfall
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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
