Commercial insurance rate increases are expected to drive an uptick in new captive formations and greater utilisation of existing captives in Europe, according to a new AM Best report.
The Best's Market Segment Report, "Europe's Captive Segment Poised for Growth Amid Hardening Insurance Conditions," notes that tougher renewal discussions with commercial insurers and challenging economic conditions provide the ideal environment for corporates to look at how they might optimise their risk transfer programmes. This is expected to contribute to an expansion of business volumes for the captive industry, according to AM Best.
The report also notes that the strong capital buffers of the European captives AM Best rates have been tested by the pandemic and have proven resilient. In addition, the report looks at regulatory developments and assesses the growing importance of environmental, social and governance (ESG) considerations for captive owners.
To access a complimentary copy of this market segment report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=303438.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright 2020 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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Contacts:
Charlotte Vigier
Senior Financial Analyst
+44 20 7397 0270
charlotte.vigier@ambest.com
Richard Banks
Director, Industry Research EMEA
+44 20 7397 0322
richard.banks@ambest.com
Konstantin Langowski
Senior Financial Analyst
+31 20 308 5431
konstantin.langowski@ambest.com
Edem Kuenyehia
Director, Market Development
Communications
+44 20 7397 0280
edem.kuenyehia@ambest.com
