Direct-writing captive launched in Ireland

EP Insurance DAC has become the first direct-writing captive formed in Ireland since 2018.

The captive will cover property, business interruption and casualty risks for a large energy company headquartered in Czechia, sister publication Captive Review revealed.

The formation was assisted by Artex Ireland, which also fulfilled key roles in the feasibility study and licensing process. The captive will begin writing insurance business by 1 December 2025.

As well as the first new direct-writing captive approved in 2018, EP Insurance is also the first reinsurance captive established in Ireland since 2021.

The number of captives in Ireland has subsequently been declining in recent years. In 2024 the number dropped by four from 65 to 61. It had been 67 at the end of 2022. Several parent companies have sought to move their captive from Ireland to their home jurisdiction, with Volkswagen the latest to do this.

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