Groupe SEB has launched a reinsurance captive in France, marking the eighth french group to hold a captive company in the domicile.
Groupe SEB received approval from French Prudential Supervision and Resolution Authority (Autorité de Contrôle Prudentielle de Résolution (ACPR)) to launch its reinsurance captive and was advised by its broker Gras Savoye Willis Towers Watson.
The creation of a reinsurance captive will allow Groupe SEB to optimise the placement of its risks through Groupe SEB Ré, a new legal entity registered in France.
Groupe SEB Ré will insure specific risks on behalf of the group, as well as its subsidiaries.
Anne Claire Péchoux Lokoto, head of insurance at Groupe SEB, explains that having a reinsurance captive entity has become “an essential strategic tool” for a global group such as Groupe SEB.
Lokoto says: “It provides a key tool for our risk management and financing and sends a positive message to the insurers. This captive will play a major role in the management of our prevention policy.”
