The French Prudential Supervision and Resolution Authority (ACPR) has approved a reinsurance captive in France for the Worldline group.
The approval marks the first in almost 20 years.
Gras Savoye Willis Towers Watson (GSWTW) advised and supported Worldline from the initial opportunity study to the issuance of the authorisation, and particularly in all the steps involved in the creation of the reinsurance captive.
Laurent Bonnet, head of captive and alternative risk transfer at GSWTW, said: "The captive is an essential tool for a group like Worldline. It offers them a key device in their risk management and a weapon for negotiating with insurers while providing operational staff with a suitable solution.”
Worldline has now joined the four French groups with a reinsurance captive in France.
Bonnet suggested that this group “should expand again in the coming months".
