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EMEA CAPTIVE IS PUBLISHED BY NEWTON MEDIA LIMITED 15-17 Newton Way


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No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electrical, mechanical, photocopying, recording or otherwise without the prior written permission of the publisher. The views expressed in EMEA Captive are not necessarily those shared by the publisher, Newton Media Limited. Wishing to refl ect the true nature of the market, the editor has included articles from a number of sources, and the views expressed are those of the individual contributors. No responsibility or liability is accepted by Newton Media Limited for any loss to any person, legal or physical, as a result of any statement, fact or fi gure contained in EMEA Captive. This publication is not a substitute for advice on a specifi c transaction. The publication of advertisements does not represent endorsement by the publisher. EMEA Captive—ISSN 2042-2512 Cover image


© istockphoto.com/Pobytov Solvency II heads the lists of concerns for the sector, with two of the pieces in EMEA Captive


this time addressing the regulatory regime. In ‘Complexity simplifi ed’, the Federation of European Risk Managers Association’s (FERMA) Pierre Sonigo explains the steps the captive industry will need to take as it looks to conform to regulatory change. In ‘Solvency II: engage and differentiate’, EMEA Captive examines views of the regulatory regime and fi nds that the sector must engage with the regulators in order to present its case.


A.M. Best examines the development of the sector in ‘Captive evolution’, detailing both the opportunities and pitfalls the sector faces as it moves forward. While in ‘Onwards and upwards’, the Captive Insurance Companies Association (CICA) outlines the state of play of the industry, touching on how it will respond to regulatory developments. Both pieces are further complemented by an examination of specifi c opportunities in the Middle East—with Kane addressing the rising potential of countries such as the Bahrain, Qatar and the UAE to the captive sector in ‘Middle Eastern promise’.


Technical insights are provided this time by Marsh and Wells Fargo. Marsh’s piece ‘The icing on


the cake, not the cake itself’ addresses tax considerations for captives and outlines why savings should be regarded as an additional benefi t and not an end in itself, while Wells Fargo’s piece ‘Trusts: cracking the collateral code’ discusses the advantages of using trusts to post collateral.


Finally, the range of captive domiciles continues to expand, the old names joined by new


and emerging jurisdictions, as territories develop their presence and incorporate increasingly sophisticated means to tailor their offering to the needs of the growing captive sector. A number of EMEA jurisdictions outline what it is that makes them an attractive captive destination: from ‘Qatar: a rising star in the Middle East’ to ‘Isle of Man: in the top tier’.


D


espite soft commercial market conditions, a diffi cult few years in the wider economy and pressures from Solvency II, the captive sector continues to prove its value as a risk and capital management tool for business. And with the continuing expansion and development of jurisdictions, increasingly conducive legal and regulatory


regimes despite political pressures to offshore, and the development of innovative vehicles such as protected cell companies and incorporated cell companies, the sector forges ahead in spite of a host of pressures.


editorial


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