In an interview in the Insurance Tribune, Patrice Kalfon discusses the insurance captive and the creation of Imothep for his client Geoxia.
“For Geoxia, the creation of an insurance captive does not prevent the group from remaining covered by traditional risk carriers, the vehicle does not take the entire risk. It is a tool designed to improve coverage and solvency while providing additional capacity in terms of delivery guarantee. On this point, Imothep assurances did not have any major difficulty in finding reinsurers, mainly hexagonal. The calculation of the guarantee risk is specific, particularly on solvency margins, and the whole issue was to define the model in order to be able to cover the maximum possible loss (SMP). There had been no insurance captive case submitted to the regulator for a long time (twenty-five years). We had many constructive exchanges with the CSPA, which paid great attention to our file. »
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