Groupe SEB Launches Its “Reinsurance Captive” in France
ECULLY, France–(BUSINESS WIRE)–Regulatory News:
Groupe SEB (Paris:SK) thus becomes the 8th French Group to hold a captive company in France.
The creation of a reinsurance captive will allow Groupe SEB to optimize 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, as well as its subsidiaries.
Anne Claire Péchoux Lokoto, Head of Insurance at Groupe SEB explained:
“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 (Autorité de Contrôle Prudentielle de Résolution (ACPR)) for the launching of its reinsurance captive and has been advised by its broker Gras Savoye Willis Towers Watson.
| Next key dates – 2021 |
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| July 23 | before market opens | H1 2021 sales and results |
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| October 26 | after market closes | 9-month 2021 sales and financial data |
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Find us on www.groupeseb.com
World reference in small domestic equipment, Groupe SEB operates with a unique portfolio of 31 top brands including Tefal, Seb, Rowenta, Moulinex, Krups, Lagostina, All-Clad, WMF, Emsa, Supor, marketed through multi-format retailing. Selling more than 360 million products a year, it deploys a long-term strategy focused on innovation, international development, competitiveness, and service to clients. Present in over 150 countries, Groupe SEB generated sales of €6.9 billion in 2020 and has more than 33,000 employees worldwide.
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