SRS creates SRS Italy

Strategic Risk Solutions (SRS) has announced the formation of SRS Italy. Headquartered in Milan, SRS Italy will be the first specialised company in the provision of insurance management services for captive insurance and reinsurance companies domiciled in Italy, SRS said in a statement.

SRS Italy has been formed by SRS in cooperation with Strategica Group, a consortium of companies operating in an innovative and specialised manner in the field of risk and insurance management, including captive insurance.

SRS said that SRS Italy has been formed at a time when Italian corporates with existing captive insurance companies have begun moving those companies back home and will provide professional management services to captive insurers both existing and new.

“We are very excited to be moving into the Italian market at a time of great potential for growth in the captive sector. Partnering with Strategica gives us a local presence, knowledge and expertise which allied with our global servicing capabilities, will ensure that we are in the best position to help any business considering Italy as a potential location for its captive,” said Brady Young, chief executive of SRS.

SRS continues to grow with offices and staff in more than 30 locations around the world, including Italy. With two captives as of February 2024, Italy as a captive domicile is expected to develop quickly with the prospect of new legislation specifically for the captive industry on the horizon, the company said.

“We are proud to be the first in Italy to carry out this type of activity. The combination of Strategica and SRS' specific skills will allow us to provide unique and high value-added services to Italian groups intending to establish a captive reinsurance company in our country. Captive reinsurance companies represent a sophisticated risk financing instrument; Although it is still not very widespread in Italy, we are certain that in our country too we will see an increasingly frequent use of this solution to optimize the retention and transfer policies of increasingly complex risks that cannot be treated solely through insurance solutions. Our ambition is to be recognized as a point of reference in the captive management sector also for the Italian market," stated Enrico Guarnerio, chief executive of Strategica Group and president of SRS Italy.

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