Category Archive

The National Risk Retention Association recently announced the 2022 RRG Leaders Summit (Summit) to be held on March 15, 2022, at the Sofitel in Los Angeles at Beverly Hills. The focus of the Summit will be on RRG Opportunities & Challenges in Today’s Market. The Summit follows a successful in-person held by NRRA in November 2021. “The Summit is a …

Joe McDonald will be rejoining the South Carolina Department of Insurance (the Department) as the Director of its Captive Insurance Division. McDonald previously served as a licensing coordinator and consumer liaison at the Department from 2008 to 2020. McDonald most recently acted as the Captive and Risk Finance Product Manager at the International Risk Management Institute, Inc. “It is my …

Vermont licensed 45 new captive insurance companies in 2021, the fourth highest yearly formation rate in the domicile’s history. In addition, Vermont announced that its 2022 annual conference will be held in-person from August 8-11, 2022. “Vermont continues to be a global leader in the captive industry and has proven, once again, to deliver high-quality regulatory oversight and partnership that …

This month one new risk retention group was added to the Risk Retention Reporter listings, and no RRGs were deleted, taking the total number of risk retention groups up to 237. No new purchasing groups were added to the Risk Retention Reporter listings, and no PGs were deleted, leaving the total number of PGs at 1032. This month’s new risk …

Risk retention group activity in the Healthcare sector has picked up in 2021, with ten new formations and significant premium growth at several Healthcare RRGs. The hardening was evident in the 2020 premium data for Healthcare risk retention groups, with Healthcare RRG premium increasing by 7.7% in 2020. Much of the activity in 2020 was in the Nursing Home subsector …

The Demotech report Analysis of Risk Retention Groups—Third Quarter 2021 in December 2021. The report finds that risk retention groups continue to exhibit premium growth and strong financials through the 3rd quarter of 2021. According to the report, risk retention groups saw a 13.3% increase in cash and invested assets through the third quarter of 2021 compared to the same …

The Property Development sector was the hardest hit by the financial crisis of 2007 to 2008, with premium in the sector falling from $147.7 million in 2008 to $93.2 million in 2011—a decline of 37%. The sector has since recovered, but several risk retention groups serving the sector entered runoff in the wake of the crisis. Given the long tail …

The Risk Retention Reporter collects service provider data on risk retention groups each year for the annual Risk Retention Group Directory & Guide. The data collected includes information on captive managers, actuaries, auditors, and legal services providers. In 2020, the leading risk retention group actuaries remained Milliman and Willis Towers Watson. Service provider data for the Directory is self-reported by …

This month no new risk retention groups were added to the Risk Retention Reporter listings, and no RRGs were deleted, leaving the total number of RRGs at 236. Two new purchasing groups were added to the Risk Retention Reporter listings, and no PGs were deleted, taking the total number of PGs up to 1032. This is an excerpt , for …

At the end of 2020 there were 215 active risk retention groups, the lowest number of operational RRGs since 2005. All the while, other types of captive formations were booming. It seemed that hard market that had begun in 2019 had left the risk retention group industry behind. That doesn’t appear to be the case anymore. There have been 24 …