AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of Blue Whale Re Ltd. (Blue Whale) (Burlington, VT). The outlook of these Credit Ratings (ratings) is stable. AM Best …
Iowa will lower the amount of reinsurance tax due from some captive companies under a bill signed by Governor Kim Reynolds last week. HF 2636 lowers the tax on premiums written above $60 million to 0.02 percent, down from 5 …
Oklahoma’s captive insurance program reported a 31% net gain in 2023, the Oklahoma Å˽ðÁ«´«Ã½Ó³» Department said. OID issued 20 new licenses in 2023 with six dissolutions, resulting in a net gain of 14 new captive insurers. Oklahoma’s total number of …
Remember the Carpoffs, the California couple sent to prison in 2021 and 2022 for running a $1 billion Ponzi scheme tied to mobile solar generators? The scheme that reportedly ensnared Warren Buffet’s Berkshire Hathaway and the Progressive insurance corporation? A …
Commissioner Andrew Mais of the Connecticut Å˽ðÁ«´«Ã½Ó³» Department announced a 37% increase in the state’s captive insurance sector in 2023. According to Mais, this growth includes the addition of 10 new captive insurers and 13 new cell risk-bearing entities. With …
The Vermont Department of Economic Development reported the state licensed a total of 38 new captive insurance companies in 2023, making it now home to 659 captives. That growth made 2023 one of the best years since Vermont licensed its …
The state of Delaware has lost its fight with the Internal Revenue Service (IRS) over the release of information on captive insurers, a fight the state took all the way to the Supreme Court. The Supreme Court on Monday declined …
The Oklahoma Å˽ðÁ«´«Ã½Ó³» Department’s Captive Å˽ðÁ«´«Ã½Ó³» Division reported a 25% net gain in captive insurers for 2023. As of September 30, the state has licensed 11 new captive insurers for the year. There are 55 actively licensed captive insurers, along …
Florida-headquartered Risk Services, a captive insurance manager and risk retention group service provider, has named Jennifer Haskell director of captive accounting. Haskell, who spent 15 years with the Alabama Department of Å˽ðÁ«´«Ã½Ó³» regulating captive insurers, was most recently a senior …
The Tennessee Department of Commerce and Å˽ðÁ«´«Ã½Ó³» has named Mark Wiedeman, a Utah native, as director of the department’s captive insurance section. Wiedeman, a graduate of Brigham Young University, joined the Utah Å˽ðÁ«´«Ã½Ó³» Department in 2012 as an auditor, then …
