Groupe SEB becomes the eighth French group to launch a captive in France
Groupe SEB, the owner of 31 brands including Tefal, Seb, Moulinex and Krups, has launched a reinsurance captive in France.
The captive will allow SEB to optimise the placement of its risks through Groupe SEB Ré, a new legal entity registered in France, which will insure specific risks on behalf of the group and its subsidiaries.
In doing so, SEB became the eighth French Group to hold a captive company in France.
Anne Claire Péchoux Lokoto, head of insurance at Groupe SEB, said: “Having a reinsurance captive entity has become an essential strategic tool for a global group like ours. It provides a key tool for our risk management and financing and sends a positive message to the insurers. This captive will play a major role in the management of our prevention policy.”
Groupe SEB has obtained the approval of the The French Prudential Supervision and Resolution Authority for the new captive. It was advised by its broker Gras Savoye Willis Towers Watson.