French captive federation launches

The Fédération Française des Captives d'Entreprise (French Federation of Corporate Captives) has been launched, according to multiple media sources in France.

The new organisation will be a sub-group of the Association pour le Management des Risques et des Assurances de l’Entreprise (AMRAE).

According to news reports it will be led by Brigitte Bouquto, the vice-president of AMRAE.

In June of this year France’s Ministry for the Economy, Finance and Industrial and Digital Sovereignty announced that it had brought in legislation to encourage captive insurance companies in the country.

The Ministry announced a decree that defined the applicable ceilings and accounting rules for the provision in the articles of the general tax code that were brought in last year.

It also established this new rule in France’s insurance code. The provisions of this decree apply to accounts relating to fiscal years beginning on or after January 1, 2023.

The move came after several years of pressure from the insurance industry to make captives easier to operate in France.