Captives step up in the ‘Age of Risk’
From: Reactions, Summer 2019
A global view of the dominant domiciles in 2019 – and who’s on the rise
The “Age of Risk” has only just begun, and there is no better time to be in the risk business than right now, said Dan Glaser, president and chief executive officer of Marsh & McLennan at a recent MMC forum in London. While he wasn’t specifically talking about captives, there are certainly signs that the captive sector is thriving, despite the everpresent challenges of tax and regulatory authorities.
In the US, the sector continues to expand, with a growing number of state domiciles and captive growth driven particularly by healthcare and an increasing number of middle-market companies using the captive solution. In Asia, there is an expectation that the region is on the verge of significant growth, notably from Chinese organisations looking to establish their own insurance company. In Europe, the market has been relatively quiet for some time, but again there remains the expectation of growth, driven by the hardening commercial insurance market.
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