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Public sector organisations could become an important early market for the United Kingdom's new captive regime, particularly as councils, utilities and other publicly funded bodies look for greater control over their risks. 

Malta-domiciled Norfolk Re Europe Cell is a cell of the WTW-owned Lime Street PCC structure and was licensed on 2 July.

The expanded captive offering will be led by Jordan Mosher as head of captive insurance banking, with Joe McDonald supporting the continued development and delivery of the bank’s captive solutions.

Sigurd is a captive reinsurer of Italian oil company Saipem and a key element of the Saipem group’s risk management framework.

Catastrophe bonds can provide corporates with an alternative source of capacity for catastrophe risks, with captives serving as the vehicle to transform those risks into the capital markets. 

Piko Re will be led by Steve McElhiney, vice chairman and chief commercial officer, reinsurance, who joined the firm in March.

The regulators were speaking to Captive Intelligence in an exclusive interview for the Global Captive Podcast where they spoke publicly for the first time since its outlined its draft regulations on 14 July.

In this interview, Ludan Wang and Carrie Tang discuss the drivers behind growing interest in captives among Chinese corporates, the risks they are looking to cover and the strategic benefits of greater control over risk financing.