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.

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.

There is a growing interest in property risk where captives are increasingly being utilised as vehicles to assume greater risk retention, according to Adriana Scherzinger, head of captives at Zurich.

AM Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” (excellent) of Ireland-domiciled Greenval Insurance Company Designated Activity Company. The outlook for the ratings is stable.

Corporate groups offering insurance alongside their product must respect the commercial market and not presume they are smarter than their peers, according to Edouard de Lamarzelle, CEO of Stellantis Insurance.

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.