Search results: france

The captive reinsurance market has long been on the lookout for the introduction of a dedicated French regulatory framework, with the legitimate fears it could raise for the reinsurance captive market in Luxembourg.

France has the opportunity to build a whole captive ecosystem now its new regulatory regime is in place with risk management association Amrae planning to launch a Captive Federation in September, according to Oliver Wild, president of the Association.

Captives are not new to France, with five new establishments in the past two years but updated legislation is expected to boost numbers.

Strategic Risk Solutions has opened an office in France, as expectations rise for a more captive friendly regulatory environment in the country.

While the Labour election victory on 4 July is expected to delay progress on the proposed United Kingdom captive legislation, local industry has not given hope of pushing the new framework through.

The increasingly competitive European domicile landscape has led the EU’s overarching insurance regulator to publish an opinion which aims to further harmonise the supervision of captive (re)insurers across the economic bloc.

While the Lloyd’s Captive Syndicate proposition is mostly appealing to the largest, most sophisticated clients it provides an environment for insureds to future proof their risk financing strategies, according to William Thomas-Ferrand, international captive practice leader at Marsh Captive Solutions.

France’s first year as a captive domicile has been hailed a success, but a stronger local ecosystem and continued education will be key if the jurisdiction wants to build on its early achievements.

Strategic Risk Solutions is planning continued expansion while captives are in vogue, but is expected to do so organically rather than through further acquisitions in the short term, according to the company’s CEO Brady Young.

There is hope that Solvency II amendments will allow for greater proportionality in the regulation of of captives domiciled within the European Union (EU), but the proposals stop short of giving captives their own classification.