The Risk Retention Reporter will issue twelve final issues to fulfill subscriptions with the final issue being the January 2025 edition of the Risk Retention Reporter. I will not be sending out any additional subscription renewals. I have now been at the Risk Retention Reporter for eleven years and it is time for me to move on to the next …

The Risk Retention Reporter has complied actuary rankings for risk retention groups for 2023. Milliman remains the largest actuarial service provider for risk retention groups, followed by WTW and Pinnacle Actuarial Resources. The data for the actuary rankings was compiled from data collected to produce the 2023 Risk Retention Group Directory & Guide, from self-reporting by captive managers and when …

Ophthalmic Mutual Insurance Co. RRG (OMIC) President Tim Padovese will be retiring on March 24, 2024. Formed in 1988, OMIC is one of the longest operating and most successful risk retention groups. Like many of the most effective risk retention groups, OMIC has a strong core membership in a particular niche. With a strong membership, an RRG can build out …

The National Risk Retention Association (NRRA) National Conference 2023 will be held from November 13 to 15 at the Sofitel Magnificent Mile Hotel in Chicago, Illinois. The annual NRRA conference is the only captive conference to focus solely on the risk retention group industry. Attendees at the NRRA Conference are immersed in the risk retention group industry and attendees will …

On July 21, 2023, Judge Christina Reiss of the United States District Court for the District of Vermont (Vermont District Court) awarded the Vermont Department of Financial Regulation (Vermont DFR) $67.7 million in a lawsuit filed against Jasbir S. Thandi and Global Century Insurance Brokers (GCIB). Thandi was the controlling officer of the Vermont-domiciled Global Hawk Insurance Company Risk Retention …

The Risk Retention Group Directory & Guide 2023 (Directory & Guide) is available. As it has for more than 30 years, the Directory & Guide offers key information about the risk retention industry and marketplace with a variety of information pertaining to all operating RRGs, their service providers, and state regulation. The 2023 edition of the Directory & Guide features …

Risk retention groups reported another strong year of premium growth in 2022 with premium increasing 12.8% to $4,902.8 million. And though formations slowed, the number of operational risk retention groups increased to 242—the highest number of operational risk retention groups in over a decade. That continued activity contributed to further shakeups in captive manager rankings for risk retention groups. Aon …

An updated edition of the Purchasing Group Users’ Handbook (PGUH) is available. The PGUH is the complete manual for registration of purchasing groups in compliance with the Liability Risk Retention Act and includes all purchasing group registration forms (NAIC and state). The PGUH also features profiles for each state that include the registration requirements for each state; premium tax requirements; …

South Carolina-domiciled Indigo Risk Retention Group, Inc. (Indigo RRG) has been assigned a Preliminary Credit Assessment of A- pca (Excellent) and Long-Term Issuer Credit assessment of “a-” (Excellent). The outlook for the PCA is stable. AM Best does not define a PCA as Credit rating, though PCAs use the existing Financial Strength Rating/Issuer Credit Rating scale. “The PCA reflects Indigo …