Strategic Risk Solutions has partnered with Strategica Group to form SRS Italy, billed as the first specialised insurance management company in the domicile and to be led by Enrico Guarnerio.
Captive Intelligence reported in the final quarter of 2023 on the formation of Italy’s first reinsurance captives by Enel SpA and Prysmian Group SpA and we understand there is further interest from existing Italian-owned captives looking to re-domestic and in new formations.
Unlike in France, there is no specific captive legislation in Italy but there is hope that will be developed soon.
“We’re very excited to be moving into the Italian market at a time of great potential for growth in the captive sector,” said Brad Young, CEO of SRS.
“Partnering with Strategica gives us a local presence, knowledge and expertise which allied with our global servicing capabilities, will ensure that we are in the best position to help any business considering Italy as a potential location for its captive.”
Strategica is a consortium of companies providing risk and insurance management services in Italy.
“We are proud to be the first in Italy to carry out this type of activity,” said Guarnerio, CEO of Strategica Group and president of SRS Italy.
“The combination of Strategica and SRS’ specific skills will allow us to provide unique and high value-added services to Italian groups intending to establish a captive reinsurance company in our country.
“Captive reinsurance companies represent a sophisticated risk financing instrument; Although it is still not very widespread in Italy, we are certain that in our country too we will see an increasingly frequent use of this solution to optimize the retention and transfer policies of increasingly complex risks that cannot be treated solely through insurance solutions.
“Our ambition is to be recognised as a point of reference in the captive management sector also for the Italian market.”