A.M.BestTV: Young Captive Domicile Finds Slow Growth, But New Opportunities

OLDWICK, N.J.--()--This A.M.BestTV episode examines the New Jersey Captive Insurance Summit, which was held this week in New Brunswick, N.J. Attendees emphasized that domicile growth has been steady, but slow, with opportunities in life reinsurance captives and home-state sponsors.

Cynthia Borrelli of the law firm, Bressler, Amery and Ross, spoke about the legitimate use of captive insurance transactions. “For many years, questions have been raised as to whether captives are legitimate transactions, real insurance and real risk transferences, as well as whether they are just another means to self-insurer so as to take advantage of the tax benefits they provide,” said Borrelli. “Captives are risk transfers and legitimate. In fact, they are a force to be reckoned with.”

John Talley, chief of captive insurance at the New Jersey Department of Banking and Insurance, spoke about the state’s progress. “New Jersey is looking real good, although the industry is not growing fast in the state, it is growing steadily.”

Other people who appear in this episode include:

  • John Mulher, Drinker, Biddle & Reath;
  • John Capassanno, president of Captive Planning Associates;
  • Marc Smith, certified public account at ParenteReed; and
  • Sheila Small, managing director at Alverez & Marsal.

Click here to view the entire video program: http://www.ambest.com/v.asp?v=njcaptives1014.

Recent episodes of A.M.BestTV include:

  • Rendez-Vous de Septembre: From September 13-18 A.M. Best attended the Monte Carlo Rendez-Vous de Septembre. To see entire interviews conducted throughout the conference visit: http://www.ambest.tv/montecarlo.
  • North American Managing General Agents in the Spotlight at Lloyd’s: The American Association of Managing General Agents, A.M. Best and Lloyd’s Conference that took place in London on Sept. 25, 2014, dealt with the North American specialty market and its role at the world’s oldest insurance market: http://www.ambest.com/v.asp?v=lloyds1014.
  • Life Insurance Industry in the ‘Research and Development Phase,’ Say A.M. Best Analysts: Life Insurance Awareness Month ended with a look at the opportunities and threats facing the industry as outlined by A.M. Best Assistant Vice Presidents Thomas Rosendale and Rosemarie Mirabella: http://www.ambest.com/v.asp?v=liam914.
  • U.S. Regulators Closer to Unified International Response: U.S. regulators at the National Association of Mutual Insurance Companies (NAMIC) conference said they are moving toward a coordinated position as they deal with international insurance regulators: http://www.ambest.com/v.asp?v=namic914.

A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at http://www.ambest.tv.

A.M. Best Company is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2014 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

Contacts

A.M. Best Company, Inc.
Lee McDonald, 908-439-2200, ext. 5561
Group Vice President, Publication and News Services
lee.mcdonald@ambest.com

Contacts

A.M. Best Company, Inc.
Lee McDonald, 908-439-2200, ext. 5561
Group Vice President, Publication and News Services
lee.mcdonald@ambest.com