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While publication of solvency ratios for the insurance industry is not a requirement, many companies do publish this information as part of their risk appetite and financial targets. The E.U. solvency regime, called Solvency II, also allows countries operating outside the E.U., ‘third country insurers’, to operate and comply with E.U. rules. The chart, compiled by Guy Carpenter, a Marsh & McLennan company, and published in February 2017, shows

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GBV: Thank you all for agreeing to this interview. Can we start with a history of captives in general and of the use of captives for employee benefits over the past 25 years?
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