special purpose vehicle


Guernsey expands ILS regulations, with SPI vehicle for cat bonds & more

Guernsey has updated its insurance-linked securities (ILS) rules in order to clarify the regulatory treatment of collateralised reinsurance transactions, add a full-featured SPI structure that can support catastrophe bonds and sidecars, and to speed up the approval to a one-day process. The Guernsey Financial Services Commission (GFSC) has published the new read the full article →

Guernsey targets special purpose insurer (SPI) rules by year-end

Guernsey is seeking to build on its insurance-linked securities (ILS) and collateralised reinsurance activity by adding legislation to allow for special purpose insurance (SPI) vehicles, which could be catastrophe bond issuers, for the end of 2016. Revealed at the Guernsey Insurance Forum 2016 event held in London yesterday, the domicile of read the full article →

North Carolina wants to become a home to cat bond and ILS issuers

North Carolina is seeking to enact legislation which would make it a home to captive insurance and reinsurance companies and special purpose vehicles such as catastrophe bond issuers. In an effort to grow its share of the re/insurance market bill SB 476, sponsored by two Republican Senators, has moved through read the full article →

SPI registrations contribute to healthy 2012 for Bermuda re/insurance market

The year 2012 saw brisk activity in the registration of new insurers, reinsurers and captives in Bermuda. New insurer registrations totalled 53 for the year, according to the Bermuda Monetary Authority, with 27 of those being Special Purpose Insurers (SPI), the class of insurer in Bermuda which are largely used read the full article →

27 Special Purpose Insurer registrations in Bermuda show popularity of collateralised reinsurance

Over the course of 2012 the island of Bermuda become home to 53 new international insurers, four new insurance agencies, five new insurance managers and two insurance brokerages. Of the insurers, 27 are Special Purpose Insurers and most of these have been formed to undertake some kind of fully collateralised read the full article →

Guernsey, a leader in captives and protected cells, targets insurance-linked securities

Guernsey, one of the Channel Islands which sits in the English Channel south of the UK and close to France, is one of the world's leading locations for licensing and domicile of international insurance entities. It has long been home to captive insurers, protected cell companies (PCCs)and incorporated cell companies read the full article →

Smaller firms show growing interest in alternative risk transfer vehicles

Smaller firms are expressing  more interest in retaining their own risk and a growing interest in alternative risk transfer vehicles such as captive structures, special purpose vehicles and risk retention groups, according to broker Marsh's 2012 Captive Benchmarking Report. We don't cover this type of alternative risk transfer on Artemis read the full article →

Horseshoe expands to offer insurance-linked security SPV services in Ireland

Horseshoe Group, an independent insurance manager and advisor with a focus on the insurance-linked securities (ILS) and catastrophe bond market is expanding its operations to Ireland which will give them a platform to expand their ILS and cat bond administration services into Europe more easily. The new entity, Horseshoe Management (Ireland) read the full article →

Impact of FATCA regulations on catastrophe bond issuers unclear

A piece of U.S. regulation has been highlighted as potentially having an impact on catastrophe bond and insurance-linked security issuing entities. The insight published in this memo from law firm Cadwalader, Wickersham & Taft LLP discusses the FATCA provisions (FATCA stands for the Foreign Account Tax Compliance Act of 2009), read the full article →

Bermuda seeing increase in Special Purpose Insurer (SPI) registrations

The Bermuda Monetary Authority has announced that it has seen an increase in the number of registrations of insurance companies on the island. Overall insurer registrations are 30% higher so far this year than were seen for during all of 2010. In particular the BMA are pleased with the increase read the full article →