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Hard insurance market drives use of captive insurance in Europe

Posted On: Nov. 25, 2022 9:57 AM CST

U.S.-based ratings agency A.M. Best Co. Inc. said that increasing insurance rates are driving the use of captive insurance in Europe, as companies increasingly resort to captives, Captive Insurance Times reported. Several European captives have also increased retention on their existing cover, while some are expanding into new lines of business as their parent companies look to increase captive utilization.