The number of captive formations continues to rise despite the softening commercial insurance market, with U.S. formations gaining momentum, according to a report by Marsh.
“Next-Generation Captives–Optimizing Opportunities,” examining the use of captive insurers by global firms, identified some interesting trends, Michael Cormier, chief executive officer of Marsh's Captive Solutions Group, told National Underwriter.
“If you look at the total amount of commercial property-casualty insurance, close to 20 percent of the premium into that market is going into a captive,” he noted. “That's an increase over the last four or five years of as much as five percentage points.”
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