June 2010
Reinsurance Magazine
Testing captive strength
The captive sector has emerged relatively unscathed from the financial
crisis, reflecting a conservative approach to investing and strong levels
of governance. But now is not the time to be complacent, explains
Clive James.
The financial crisis, which began with the collapse of the US sub-prime
market and became a contagion that spead throughout the banking
system, was not an explicit insurance event. Nevertheless, a number
of commercial (re)insurers were affected, resulting in significant
investment losses, while a minority faced billion-dollar write-downs as
a result of their forays into more exotic waters.
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