New European captive domiciles are seeing growth in company formations, including redomicilations from other jurisdictions, according to new analysis from AM Best.

The Best's Market Segment Report, “New Domiciles are Changing the Landscape for the European Captive Insurance Segment”, notes France, which has only recently introduced rules governing the establishment and operation of captives, is leading the way for new captive formations in Europe in 2023 and 2024. There have also been several new captive formations in Italy. Separately, new rules are under consideration in the United Kingdom and in Gibraltar designed to attract new captive business.

European jurisdictions do not report captive numbers in a consistent manner; however, AM Best analysis suggests that Guernsey maintained the top spot among European captive domiciles, with Luxembourg in second place and the Isle of Man in third.

To access a complimentary copy of this market segment report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=349582.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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