Individual and panel interviews with A.M.BestTV
Organizers of insurance programs aimed at covering less-developed portions of Africa, Central America and the Caribbean say forming insurance captives is a key element of their operations.
Bryan Fuller, managing director, Extremis Global Risk Consulting, said his firm is working with four jurisdictions on a program that would provide financing in the event of major catastrophes.
Fred Eslami, senior financial analyst, A.M. Best, said a forthcoming report on the captive industry will likely show that financial performance for rated captives still outperform the broader industry.
Jill Husbands, chair, Marsh Bermuda, said Bermuda recently received its first captive from Chile and she expects global interest to grow following Bermuda being granted Solvency II equivalency status.
Kim Willey, senior counsel, ASW Law, said a tax information agreement between Canada and Bermuda continues to bear fruit as Canadian companies cover a growing variety of risks into offshore captive insurance organizations.
Dan Towle, director of financial services, Vermont, recommends that potential captive sponsors interview domiciles to determine a best fit. Vermont licensed seven new captives so far in 2016.
Gavin Woods, counsel for the law firm Appleby, says he expects the alternative risk space to continue its evolution as captive insurers innovate beyond insurance-linked securities and traditional natural cat risk.
Like most companies and businesses that deal with data, captive insurers are looking for protective solutions amid a growing global cyberrisk threat.
Tony Weller, CEO, Citadel Risk, says his company's 51% purchase of a captive manager has given the Bermuda reinsurer a positive burst of business diversity that is helping to soften the hit from a softening London market.
Ryan Wang, US economist, HSBC Securities, says contracting business investment and disappointing global economic growth may spur the Fed to raise its policy interest rate once this year by 25 basis points and twice more in 2017.
