A great opportunity to get up to speed with captive industry developments, network and share experiences. The format of intimate round table discussions interspersed by a couple of plenary sessions works well and keeps energy levels high and the audience engaged
Snippets of info gained include:
2 case studies of insured, broker and carriers working together to deliver more efficient renewals through a block chain platform.
Predictions from panel was this would become more common place.
Assessment of captive boards’ performance and composition is patchy and should be regularly implemented. Need to introduce more diversity and limit tenure to a maximum of 9 years (in line with new U.K. standards) recognised. Value in the captive board attending strategy day(s) outside board meetings to focus on the business
Have a justification for the captive prepared in the event of internal challenge. The value a captive generates can cover a broad range of drivers.
Continuing demand seen for pension longevity de-risking. Cells provide the perfect interface to transfer risk to reinsurers, captives the perfect vehicle to house the risk.
The lack of clarity over the U.K. Government’s position on Brexit is affecting the insurance industry’s ability to plan and implement a Brexit strategy. US tax reform will increase cost of US fronting to a non US reinsurer ( either captive to sister captive or via a local carrier to a non US group company and then onto the captive). In response to BEPS initiative a number of captives are changing domicile or electing to be taxed under parent company fiscal regime
Congrats to Pageant Media for organising the event and thanks to the sponsors who supported it.
Malcolm Cutts-Watson to facilitate a round table discussion on ‘Good Governance‘ and ‘getting value from your Captive Board‘ at UK Captive Owners’ Summit to be held on February 22, 2018 in London.
“I’m delighted to be asked to lead a conversation on an increasingly important, but often overlooked, aspect of the captive. With increasing scrutiny of the captive model, proper governance needs to be demonstrated”
Malcolm Cutts-Watson of CWC Jan 17, 2018.
Register for the event here on Captive Review.