Strategic Risk Solutions (SRS) has joined forces with Italian-based Strategica Group to form SRS Italy, headquartered in Milan.
SRS states that the new business will be the first specialised company to provide insurance management services for captive and reinsurance entities domiciled in Italy.
Italy is poised for rapid growth as a captive domicile, following the registration of two captives in February 2024. The jurisdiction is expected to gain further momentum in Europe, with new captive legislation anticipated in the near future.
Brady Young, CEO of SRS, comments: “We're very excited to be moving into the Italian market at a time of great potential for growth in the captive sector.
“Partnering with Strategica gives us a local presence, knowledge, and expertise that, allied with our global servicing capabilities, will ensure that we are in the best position to help any business considering Italy as a potential location for its captive.”
Enrico Guarnerio, CEO of Strategica Group and president of SRS Italy, states: “Captive reinsurance companies represent a sophisticated risk financing instrument; although it is still not very widespread in Italy, we are certain that in our country we will see an increasingly frequent use of this solution to optimise the retention and transfer policies of increasingly complex risks that cannot be treated solely through insurance solutions.
“Our ambition is to be recognised as a point of reference in the captive management sector also for the Italian market."
