News
AM Best affirms ratings of BNY Mellon captives
6+ hour, 52+ min ago (194+ words) AM Best has affirmed the financial strength rating of A (Excellent) of BNY Trade Insurance and The Hamilton Insurance Corp. The outlook of these ratings is stable. Both companies are single-parent captives of The Bank of New York Mellon Corporation…...
‘It’s coming home’: captives may return to UK if PRA nails regulatory regime
4+ week, 1+ day ago (640+ words) There are tangible competitive advantages to having a captive in the same domicile as its parent – and if the UK gets its new captive regime right, an onshore pivot could take place, where companies with offshore captive insurers re-domicile those…...
AM Best assigns ratings to SAIC Motor Insurance
1+ mon, 4+ day ago (405+ words) Captive International - AM Best assigns ratings to SAIC Motor Insurance AM Best has assigned a financial strength rating of A- and a long-term issuer credit rating of “a-” to SAIC Motor Insurance (SAIC Captive). The outlook assigned to these ratings is…...
Regulators stress governance and business purpose as key tests for captive applications
1+ mon, 5+ day ago (179+ words) Captive International - Regulators stress governance and business purpose as key tests for captive applications Captive regulators are placing greater emphasis on governance, board expertise and clearly defined business plans as captive owners seek to expand into emerging risks and more…...
Rate softening accelerates across specialty lines, WTW finds
2+ mon, 1+ week ago (216+ words) Specialty insurance market rates declined in 2025 and for 1 January 2026 renewals, with the pace of change exceeding expectations in the published forecasts by both brokers and insurers, according to WTW’s Specialty Insurance Marketplace Survey (SIMS). WTW said that based on the…...
FORTY Under 40: Lily Quinlan
3+ mon, 1+ week ago (458+ words) Lily Quinlan, vice president, investment adviser, PNC Insurance Solutions Group. After graduating from the University of Texas at Austin, Quinlan joined PNC asset management group in 2020 and the insurance solutions group in 2023 after working for various client types in the…...
FORTY Under 40: Philipp Lürzer
3+ mon, 1+ week ago (677+ words) Lürzer joined Swiss Re as a graduate in 2013. Over the course of his career, he has held roles in business development, client management, strategy and operations and broker management. This cross-functional background enables him to combine risk expertise with a…...
FORTY Under 40: Naomi Baumann
3+ mon, 1+ week ago (866+ words) Naomi Baumann, vice president, claims and insurance services, FCCS. She plays a key role in supporting the Farm Credit Captive Insurance Company, helping safeguard the institutions that finance agriculture and rural communities across the US. Through disciplined governance, thoughtful coverage…...
Piko AI reveals former Augment Risk exec as vice chair
3+ mon, 3+ week ago (277+ words) Piko AI has unveiled a new vice chairman and chief commercial officer, who joins from parametric broker specialist Augment Risk. Steve McElhiney (pictured) joins to lead strategy and industry engagement for the company, which has built its offering around using…...
Veteran risk manager joins Kongsberg as VP of insurance
3+ mon, 3+ week ago (184+ words) Fredrik Finnman, who has held senior roles in risk management at Sandvik and ASSA ABLOY, has joined Kongsberg as vice president of insurance. Finnman has more than 20 years of international experience across industrial groups, insurance markets, and captive environments. He…...