Search results: PSI

Becoming a signatory of the United Nations’ Principles for Sustainable Insurance (PSI) should only be the start of the captive journey in contributing to the group’s ESG objectives, according to Franck Baron, group deputy director of risk management and insurance at International SOS.

Singapore-domiciled Odeon Insurance Re Pte Ltd is the first Asian captive to become a signatory of the United Nations Principles for Sustainable Insurance.

Aon’s Ciaran Healy is confident more captives will sign up to the United Nations’ Principles for Sustainable Insurance (PSI) with Enel Insurance a “proof of concept” that others should be able to follow.

Antonio Nervini, Head of Insurance in the Netherlands at Enel Insurance N.V., is hoping that other captives follow the Italian multinational's lead in signing up to the United Nations’ Principles for Sustainable Insurance (PSI).

While the majority of captive owners were not directly impacted by the Los Angeles wildfires, the fallout from the blaze is leading to more companies exploring the possibility of utilising their captives to write weather-related property risks.

There is substantial opportunity for captives to play a bigger role on the African continent according to Krishna Bheenick, managing director at Africa Specialty Risk (ASR).

Italy has licensed its first reinsurance captive for Enel S.p.A., and Captive Intelligence understands further re-domestications are expected to follow.

Captives have an opportunity to drive innovation in ESG and insurance, according to Maria Arana, ESG leader Europe at Marsh, and Lorraine Stack, international sales and consulting leader at Marsh Captive Solutions.

Captives could be key to taking parametric insurance more mainstream with large corporates by playing a “crucial role” in absorbing the basis risk of the policy and providing direct indemnification the insured parent, according to Thomas Keist and Jan Bachmann at Swiss Re Corporate Solutions.

Parametric products are the “perfect fit” for a captive due to their direct access to internal company data, while the policy’s automatic pay-out function also lends well to captive utilisation.