From: Captive International
Sandvik is one of Sweden’s great multinational companies, a global engineering group with employees around the world and revenues of around $10 billion. It is also the owner of one of Sweden’s thriving captives. Sandvik’s Fredrik Finnman talked to Captive International.
Sweden seems to be something of a European captive insurance hotspot. Why is that?
There are 46 captives in Sweden, a large number for a country with only nine million inhabitants. This is no accident: captives have thrived in Sweden because of the strong risk management culture that exists in the country, particularly among its many multinational companies.
It is not only a captive owner that benefits from having a captive—society as a whole benefits from the increased competition that follows from the growth of the captive sector.