Saturday, June 15, 2024

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SRS opens first office in France

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

SRS had historically been focused on the United States and offshore jurisdictions in North America, but first launched a European operation in Dublin in 2017.

It has since made acquisitions and opened offices in Malta, Luxembourg, Guernsey and Switzerland.

“Since our beginning we have always gone to where our clients want,” said Brady Young, SRS chairman and CEO.

“Clearly many French companies want to “go home” and operate their captive. We look forward to helping the domicile evolve in the future.”

Amrae, the French risk management association, has been lobbying the government to introduce captive specific legislation for the past two years and amendments are thought to be close which would present a more captive friendly regime.

“I am very excited to start our journey in France and lead up a fully dedicated local service team to serve the French-based insurance and reinsurance vehicles in the best way,” said Maxime Schons, managing director at SRS.

“Our French operations fills our model and presence across Europe to respond to the wider EU demand.” Peter Child, CEO of SRS Europe, said: “It’s exciting to be opening another office in Europe, and to establish a foothold in Paris ahead of all of our direct captive management peers is a great endorsement of our teamwork and deep levels of professionalism.”