ESG challenges and how captives can meet them
ESG initiatives have become a strategic imperative for many organisations over the past years as a reaction to some of the social and economic challenges that arose during the COVID-19 pandemic, according to Stephen Taylor, the director of the Delaware Department of Insurance’s Bureau of Captive & Financial Insurance Products.
Writing in our US Focus edition, Taylor said that environmental, social and governance (ESG) issues might increase the interest of some US owners re-domiciling their offshore captives onshore to address questions of corporate responsibility under the social pillar.
“In this case, a captive’s parent may determine its social initiatives are better served by bringing the captive and its assets and economic impacts to its communities in the US,” Taylor said.
In his view ESG presents a great opportunity for captive insurance to play a role, and Delaware’s Captive Team stands ready to assist businesses in addressing their ESG issues, Taylor explained.
