Group captive specialist targets Europe
Captive Resources plans to expand into Europe after having huge success with group captives in the US.
The Cayman-based company has just reached $800m of dividends that have been returned to customers and now works with over 230 brokers in the US.
Captive Resources CEO George Rusu said: “We think it’s time to move our footprint internationally. If we can do it here why can’t we do it anywhere else?
“There are plenty on mid-sized companies in Europe with similar problems to the US that can be solved by joining group captives.
“We don’t have a timeline for moving to Europe but it is something we are definitely looking at.”
However, many captive managers have found forming group captives in the continent troublesome.
Group captives are less popular in Europe as fewer European companies are looking to band together the same coverages.