French timber group Piveteaubois launches captive Florence Re

French timber and wood products manufacturer Piveteaubois has become the latest firm to establish a captive in France.

Florence Re was initially registered on 16 March 2026, but only recently added to the approved list of reinsurers approved by the French regulator, the Autorité de contrôle prudentiel et de resolution (ACPR).

The ACPR lists Florence Re as having been created on 8 October 2026, with a registered office of La Vallée”, 85140 Sainte-Florence – the same address as the Piveteaubois corporate office.

Florence Re is listed as having €6 million in share capital, with Piveteaubois president Jean Piveteau listed as a director and chairman of the board of the directors on the captive.

Piveteaubois general manager Philippe Piveteau and operations coordinator Pierre-Alexis Arnoux are listed as the captive’s administrators, with finance director Christophe Gelineau the captive’s general manager.

Florence Re becomes the fifth new captive approved by the ACPR this year.

France began the year with 25 captives, and there remain several captive reinsurers formed by other French companies still awaiting ACPR approval.

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