an organization that provides credit and is owned or controlled by a commercial or manufacturing company, for example, a retailer that owns its store card operation or a car manufacturer that owns a company for financing the vehicles it produces
In a highly dynamic competitive environment, vehicle captive finance companies need tools that deploy best practices across their operating domains and empower their employees and partners to work together toward consistent delivery of outstanding customer service and profitability. Success requires an information technology foundation that understands the complexities of the...
Business Editors MELVILLE, N.Y.--BUSINESS WIRE--Jan. 27, 2003 DealerTrackTM, Inc., a leading technology services company enabling finance transactions between automobile dealers and lenders, today announced that Hyundai Motor Finance Company HMFC has signed an agreement to join its independent online auto finance platform. The deal will allow HMFC...
Business Editors/Automotive Writers NEW YORK--BUSINESS WIRE--Feb. 27, 2001 Subaru of America, Inc. and Chase Auto Finance, a division of J.P. Morgan Chase, today announced the selection of Chase Auto Finance to act as the captive auto finance provider for Subaru effective April 1, 2001. "Chase Auto Finance...
Despite recent legislative changes to the tax treatment of captive insurers and their owners that have effectively removed many of the preconceived tax abuses in the captive insurance company area, the Internal Revenue Service continues to attack the deductibility of premiums paid by U.S. insureds to captive insurers. It...
GARDEN CITY, N.Y. -- Chase Auto Finance and Subaru of America Inc. today announced the renewal of their partnership, Subaru Motors Finance SMF, positioning Chase to continue to serve as the captive auto finance provider for Subaru in the U.S.
Republican gubernatorial candidate Doug Forrester found himself having to respond to charges that he had set up a captive insurance company in the District of Columbia to dodge New Jersey laws that could have barred him from using his personal funds to finance his campaign.
In the last few years, more attention has been focused on how captive insurance companies can be utilized by privately held companies to address the problem of rising insurance premiums as well as provide income tax savings and estate planning benefits. Set forth below in question and answer format are...
BUENA PARK, Calif.--BUSINESS WIRE--June 30, 1998--Isuzu Motors America Inc. and American Isuzu Motors Inc. jointly announced the formation of a captive finance company to assist Isuzu dealers and their customers with financing and leasing programs.The new company, Isuzu Motors Acceptance Corp., or IMAC as it shall...
A captive is an insurance company that's owned by a corporation whose primary business is not insurance. The captive provides coverage only for its parent organization. Insuring employee benefits through a captive has been problematic because the Employee Retirement Income Security Act ERISA expressly forbids transactions between an employee benefit...
A captive is a bona fide insurance or reinsurance company. Its business is primarily supplied by and controlled by its owners, which are also normally the principal insureds. These owners/insureds participate in controlling the underwriting, claims and investment decisions of the insurance company. This article on captives defines them and...
The Internal Revenue Service has issued guidelines on captive insurers, loss reserving and unpaid loss adjustment expenses which may interest captive operators taxed under Subpart F, captive insurers that have made elections under Section 953d and domestic captive insurers or risk retention groups. The guidelines on captive insurers concern...
The owner of a captive insurance company lacks the experience of buying reinsurance, especially when they are dealing with the few sophisticated reinsurers that exist in today?s reinsurance market. In the reinsurance buying negotiation process, the captive owner is at a complete disadvantage when dealing with experienced reinsurance company executives....
The International Risk Management Institute Inc. and Tillinghast-Towers Perrin will jointly publish Captive Insurance Company Reports, a news journal about the captive insurance industry. The publication will also cover reinsurance, tax and regulatory developments in the captive industry; reports and comparisons of new and existing captive domiciles; updates, reports on...
A.M. Best Co. of Oldwick, N.J., has announced the availability of an online edition of Best's Captive Directory, accessible exclusively through its new online Captive Center (www.ambest.com/captive). The Directory comprises more than 25 years of research into the captive marketplace in domiciles around the world.
Fortis is pleased to announce that, following the announcement made on 8 January 2007, it has completed the acquisition of Captive Finance Limited. This transaction gives Fortis Lease Group a foothold in seven new countries in Europe and Asia.
Value measurement entails comparisons. Comparisons to standards, such as financial ratios, are the most common in financial services. Although net income and return on capital are the standards most often used by insurers, they are not the best indicators of value for captives because they are only partly relevant to...
When Deborah Harder set up a captive insurer not so long ago, she got by with a little help from some friends--friends outside her company to be sure, but even more importantly within.
SAN MATEO, CALIFORNIA, Jan 26, 2004 CCNMatthews via COMTEX Leading Automotive Finance Provider Leverages Vehicle Finance Business Processes and Legacy Application Integration to Drive Operational Efficiencies and Customer Satisfaction Siebel Systems, Inc. (Nasdaq:SEBL), a leading provider of multichannel business applications software,...
Businesses are sick and tired of the hard insurance market, particularly for property and casualty coverage, and they are looking for a way out. For many proactive organizations, the exit signs point toward forming a captive insurance company as part of their long-term risk management strategy. In its most common...
When facing high premiums or a lack of commercial coverage, many organizations turn to captive insurance as a solution. While captive insurers have solved a number of coverage issues, the most successful are those that have implemented some basic best practices. Those that did not tended to fade away or...
