Captive News

Global captive market updates, regulatory news and industry insights

Two Captive Insurers Profitable Every Year Since Opening; Number of New Captives in the Pipeline May Reach Double Digits

It is increasingly common for large enterprises (groups) to establish captive insurance companies. So how are the captives currently in the market performing? From the 2016 annual reports, the reporter found that last year the two captives registered in mainland China operated stably with solid profitability—and since their establishment, both have remained profitable every year.

2017-05-10

Author：Editorial Team
CNPC's Captive Insurer Successfully Enters the Turkmenistan Market

On April 15, the reporter learned from CNPC Captive Property Insurance Co., Ltd. ("the Captive Insurer") that the company had reached an agreement with the State Insurance Company of Turkmenistan and successfully underwrote a share of the insurance for the Group's Amu Darya Right Bank project, generating premium income of RMB 3.41 million. The Captive Insurer thus became the first Chinese insurance company to enter the Turkmenistan insurance market.

2017-04-19

Author：Editorial Team
Captive Model Gains Favor Among Large Enterprises as Datang Group Seeks Insurance License

The captive self-insurance model of large enterprises is gradually heating up. Following the establishment of captive insurers by the petroleum, railway and shipping sectors, a China Securities Journal reporter learned on the 22nd that China Datang Corporation, one of the country's extra-large power generation enterprises, also intends to establish a captive insurer.

2017-03-23

Author：Editorial Team
Hong Kong FSDC Publishes Report, Hoping Hong Kong Insurance Can Turn Crisis into Opportunity

The Hong Kong Financial Services Development Council today published the report "Turning Crisis into Opportunity: Hong Kong as an Insurance Centre and Its Development in Reinsurance, Marine Insurance and Captive Insurance", noting that Hong Kong's reinsurance, marine insurance and captive insurance sectors face the most obvious challenges, and that these areas are key to Hong Kong's development as a financial centre and a "super-connector" for the Belt and Road. The report recommends that the Hong Kong SAR government review the China Risk Oriented Solvency System, consider tax relief for the insurance industry, and examine Hong Kong's insurance regulatory structure.

2017-03-04

Author：Editorial Team
The Race Among China's Financial Centers: Who Is Rising and Who Is Falling?

The rivalry between financial centers and technology centers is one of the two hottest topics in today's competition among cities. Whichever city wins in building these "two centers" will become a true first-tier city; conversely, even the most formidable city will decline. Over the past five years, nine top cities in mainland China have competed fiercely for financial-center status. With the 2016 data now released, the "interim results" of this contest have come into view.

2017-02-12

Author：Editorial Team
CIRC Approves Opening of COSCO Shipping Property Insurance Captive Co., Ltd.

According to a February 7 announcement on the CIRC website, COSCO Shipping Property Insurance Captive Co., Ltd. ("COSCO Shipping Captive") was approved to commence operations on January 25, becoming China's seventh captive insurance company — only 52 days after the company received approval to prepare for establishment last December.

2017-02-07

Author：Editorial Team
CNPC Captive Insurer to Establish Overseas Subsidiary

China's first domestic captive insurer is preparing to go global. A reporter from China Business Journal has learned that the CNPC captive insurer is preparing to establish an overseas subsidiary. Under CIRC's current regulatory policy, captive insurers can conduct business nationwide without establishing branches, and no domestic captive insurer has yet set up branches within China.

2017-01-08

Author：Editorial Team
China's Fourth Captive Insurer — Yuedian Captive Insurance Company Approved

Recently, following review by the China Insurance Regulatory Commission (CIRC), Guangdong Yuedian Property Insurance Captive Co., Ltd. (in preparation) was approved for establishment, marking that the first power-industry captive insurer in China has officially entered the preparatory stage. This is the fourth captive insurer approved in mainland China, following CNPC Captive Insurance Co., Ltd., China Railway Property Insurance Captive Co., Ltd. and COSCO Shipping Property Insurance Captive Co., Ltd., and also the first captive insurer of a provincial state-owned enterprise approved for preparation in China.

2016-12-28

Author：Editorial Team
Huge Demand for Captives, Yet Only a Handful of Captive Insurers

In China, captive insurers still feel unfamiliar and niche to many people. But globally, establishing captive insurers has become an important risk management tool for large enterprises, especially multinationals—and judging from China's situation, demand for captives is huge. On December 5, following review by the CIRC, COSCO Shipping Property Insurance Captive Co., Ltd. (in preparation) was approved for establishment, marking that China's first shipping captive has officially entered the pre-opening preparation stage.

2016-12-11

Author：Editorial Team
COSCO Shipping Property Insurance Captive Approved for Establishment

On December 5, 2016, following review by the CIRC, COSCO Shipping Property Insurance Captive Co., Ltd. (in preparation) was approved for establishment, marking that China's first shipping captive insurer has officially entered the pre-opening preparation stage.

2016-12-11

Author：Editorial Team

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