Category Archive

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 …

The National Risk Retention Association’s highest award—The Karen Cutts Award—was presented to James Cutts, the husband of the late Karen Cutts. Karen Cutts was the founder and managing editor of the Risk Retention Reporter from 1987 until her death in 2010 after a battle with pancreatic cancer. This is an excerpt , for the complete article subscribe to the Risk Retention Reporter.

The National Risk Retention Association (NRRA) Conference was held from November 2 to 4 at the Sofitel Hotel in Chicago, Illinois. Although attendance was down from pre-covid levels, there were indications that interest in the risk retention group vehicle is increasing. Even with the decline in attendees, NRRA Executive Director Joe Deems was pleased with the conference. This is an …

This month seven new risk retention groups were added to the Risk Retention Reporter listings, and one RRG was deleted, taking the total number of RRGs up to 236. No new purchasing groups were added to the Risk Retention Reporter listings, and none were deleted leaving the total number of PGs at 1030. In July 2021, Kathryn Boucher, Vice President …

Risk Partners Vice President Gary Osborne was named Captive Insurance Person of the Year by the South Carolina Captive Insurance Association. Osborne currently serves as the Chairman of the SCCIA Board. South Carolina was the leading domicile for new risk retention group formations in 2021—the best year for new RRG formations since 2007. “In the face of tremendous uncertainty during …

With the North Carolina Supreme Court denying an appeal by Amrit “Andy” Singh (A. Singh), Eleazar Rojas, Shamsher Singh (S. Singh), and MVT Insurance Services (MVT) in their ongoing bid to regain control American Transportation Group Insurance Risk Retention Group, Inc. (ATGI), ATGI is looking to move forward as a viable risk retention group under the leadership of current ATGI …

VCIA President Richard Smith will be stepping down from his position in early 2022. Smith came on as VCIA president in 2009 and the led association during throughout the 2010s, a decade that saw numerous challenges including 831(b)s drawing the attention of the IRS, a decline in the number of operational risk retention groups, and increased interest in captive insurance …