Friday, January 2, 2026

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Nicolas Denys appointed MAXIS chief underwriting officer

MAXIS Global Benefits Network (MAXIS GBN) has appointed Nicolas Denys as its chief underwriting officer, effective 1 February 2025, subject to regulatory checks.

Denys joins MAXIS GBN from AXA Group where he had worked for 25 years with his role spanning across underwriting, pricing, portfolio monitoring, product management and actuarial accounting.

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Captive Intelligence provides high-value information, industry analysis, exclusive interviews and business intelligence tools to professionals in the captive insurance market.

Warranty Solutions Group forms Guernsey insurer

Warranty Solutions Group (WSG) has formed a new Guernsey-domiciled insurer, WSG Guardian Insurance Ltd.

Strategic Risk Solutions (SRS) has assisted WSG with the formation of the insurer, which was registered on 30 September and holds a Category 2 licence.

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Captive Intelligence provides high-value information, industry analysis, exclusive interviews and business intelligence tools to professionals in the captive insurance market.

AM Best affirms rating of PEMEX captive

AM Best has affirmed the financial strength rating of ‘B++’ (Good) and the long-term issuer credit rating of “bbb” (Good) of Switzerland-domiciled Kot Insurance Company AG. The outlook for the ratings is stable.

Kot is the captive reinsurer of Mexican state-owned oil and gas company, Petroleos Mexicanos (PEMEX).

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Captive Intelligence provides high-value information, industry analysis, exclusive interviews and business intelligence tools to professionals in the captive insurance market.

Parametric quote-to-bind ratio remains low as education needed for captive owners

Interest around parametric insurance is growing, but the actual quote-to-bind ratio for these policies is still relatively low, Chris Sutton, partner in speciality broking at McGill & Partner, told Captive Intelligence.

Parametric products are good fit for captives because they have direct access to internal company data, while the automatic pay-out function of parametric insurance streamlines the claims process.

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Captive Intelligence provides high-value information, industry analysis, exclusive interviews and business intelligence tools to professionals in the captive insurance market.

AM Best affirms ratings of ENI’s Ireland captive

AM Best has affirmed the financial strength rating of ‘A’ (excellent) and the long-term issuer credit rating of “a” (excellent) of Ireland-domiciled Eni Insurance Designated Activity Company (EID).

EID is a captive owned by Eni S.p.A. (Eni), a multinational energy company based in Italy.

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GCP #114: What next for the UK as captive consultation launches?

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Chris Lay, Marsh McLennan UK
Julia Graham, Airmic
Caroline Wagstaff, London Market Group

In episode #114 of the Global Captive Podcast, supported by the ⁠EY Global Captive Network⁠, Richard brings the latest on the UK captive consultation hosting a discussion between Chris Lay, CEO of Marsh McLennan UK, Airmic CEO Julia Graham and Caroline Wagstaff, CEO of the London Market Group.

Chris, Caroline and Julia discuss the positions of Airmic, Marsh and the LMG, the next steps and how they are planning to respond to the consultation.

We also have the latest ⁠London & Capital⁠ quarterly investments update with Shadrack Kwasa and Jack Smith analysing an eventful few months and what it means for captive portfilios.

Our Captive Intelligence long read with extensive commentary on the key questions in the UK consultation.

UK captive consultation document.

For the latest news, analysis and thought leadership on the global captive market, visit ⁠Captive Intelligence⁠ and sign up to our ⁠twice-weekly newsletter⁠.

Direct writing, compulsory lines, PCCs; UK market prepares for key consultation


  • Reinsurance only captives would restrict domicile potential
  • Compulsory lines and direct writing would givewider appeal
  • Opening PCCs to captive business could access UK middle market

The captive market may only get one shot at designing an optimal regulatory regime in the United Kingdom, so how it responds on a series of key questions is likely to determine its impact on the wider industry.

Chancellor Rachel Reeves MP announced the launch of the three-month consultation last week and the captive market is now positioning itself to respond.

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Captive Intelligence provides high-value information, industry analysis, exclusive interviews and business intelligence tools to professionals in the captive insurance market.

DoL considering Meta captive’s ERISA exemption

Meta Platforms Inc, the parent company of Facebook and WhatsApp, is awaiting a decision from the Department of Labor to authorise an Employee Retirement Income Security Act (ERISA) exemption to allow its captive to reinsure certain US employee benefits.

Meta has reinsured international employee benefits through its captive since formation in 2020, discussed by the multinational’s director of business risk and insurance Janaize Markland in GCP #51.

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Captive Intelligence provides high-value information, industry analysis, exclusive interviews and business intelligence tools to professionals in the captive insurance market.

UK construction consortium launches guidebook for commercial timber buildings

A collaboration between property developers, insurers, and technical experts has led to the launch of the UK’s first Commercial Timber Guidebook.

The Guidebook aims to promote the use of structural timber in office construction by demonstrating both its technical viability and its insurability.

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Captive Intelligence provides high-value information, industry analysis, exclusive interviews and business intelligence tools to professionals in the captive insurance market.

Exolum captive ‘crucial’ to counter expected reduction in capacity

Exolum’s Luxembourg-domiciled captive was primarily established to address a future lack of capacity in the commercial market, Mario Ramirez, risk & assets manager at Exolum, told Captive Intelligence.

The Spanish multinational Exolum stores and transports chemical products and hydrocarbons.

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Captive Intelligence provides high-value information, industry analysis, exclusive interviews and business intelligence tools to professionals in the captive insurance market.