Tax advantages for captive insurance operations that relocate to Sweden have led Willis Group Holdings to establish a Stockholm unit providing captive advice and management, a company official said.
The new operation, Willis Management (Stockholm) AB, is an addition to the firm's global captive practice.
Martin Atterby, managing director of Willis Management in Stockholm, told National Underwriter that an increasing number of Swedish companies that established captives in other domiciles are now relocating to Sweden largely because of the tax effects of Controlled Foreign Company, or CFC regulations.
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