Bahraini energy firm, ACE Gallagher to set up new captive insurer
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Bahrain-based integrated energy firm Bapco Energies has partnered with ACE Gallagher Holding W.L.L. to establish a new captive insurance firm, Verdict reported. The importance of the insurance captive is said to be underscored by current challenges in the insurance market. Mark Thomas, group chief executive at Bapco, said that the firm has seen a global increase in the use of captive insurers as a key risk management tool amid the challenges of an increasingly hardening insurance market.
