Increasing and complex supply chain risks are one of several factors behind corporations' growing use of captives, according to discussions at this year’s Federation of European Risk Management Associations (Ferma) gathering in Madrid.

David Vigier, chief commercial officer and head of captives strategy at HDI, told The Insurer TV that France’s regulatory overhaul in 2023, that led to it becoming a captive-friendly domicile, took years of lobbying from the risk management community.

The London market has welcomed the announcement that HM Treasury will consult on a UK regime for captive insurance companies, highlighting that it could provide a vital risk management tool for large corporates while bolstering the city’s competitiveness.

UK chancellor Rachel Reeves has pledged to slash red tape and push forward a long-awaited consultation on captive insurance as part of plans to drive growth and competitiveness in financial services, telling industry leaders that post-financial crash regulation has “gone too far”.

More insurance managers are exploring alternatives to traditional risk transfer solutions as capacity decreases in areas such as property, according to a global survey of risk managers conducted by the Federation of European Risk Management Associations (Ferma).

The Federation of European Risk Management Associations (Ferma) has issued an EU policy note outlining how improvements to the principle of proportionality will benefit parents of captive (re)insurance companies domiciled in EU member states.

Marsh has named Will Thomas-Ferrand to lead its captive insurance business from 1 January 2025, succeeding Ellen Charnley who is to retire at year end.

OneAdvent and BP Marsh-backed Verve Risk Services has launched a captive insurance product and bespoke broker portal.

Marsh’s Rob Geraghty has echoed industry calls for proportionate and competitive legislation as the UK government considers refining its framework to ease the regulatory and administrative burden associated with setting up captives in the UK.

Large corporates are increasingly looking to set up captive vehicles specifically for cyber risk, although appetite and limits vary significantly, according to Marsh’s Rob Geraghty.

Lloyd’s has unveiled the launch of its first captive syndicate in the 21st century, with Captive Syndicate 1100 managed by third-party managing agent Apollo Syndicate Management.

AstraZeneca has secured a five-year business resilience insurance policy within its captive and reinsurance framework.

Legacy specialist Darag Insurance Guernsey has acquired a Cayman Islands-based (re)insurance captive.

Stone Point Capital-backed Alliant Insurance Services has bought national captive program manager Property Owners Protection Insurance Company (POPIC) in a move it says will add real estate products and underwriting capabilities.

Marsh has unveiled Edgware Re Ltd, a group captive insurance company designed to provide greater control and stability over cyber insurance programs.