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I–RE relaunches RE–PAID captive product for core mid-market US firms
The relaunch expands RE–PAID’s commercial property primary limit to up to $20m and general liability to up to $5m, aiming for five-year loss ratios below 40% on $1m to $5m to $10m premium placements.
I–RE, a reinsurance and captive specialist, has relaunched its RE–PAID captive product to serve an underserved “core mid-market” segment of US businesses. The program targets companies paying between $1m and $5m to $10m in premium, with five-year loss ratios below 40%, and is aimed at a market I–RE says is too large for a pure single-parent captive but too big for group captives’ limited flexibility.
The captive product relaunch comes as I–RE points to growth in the US captive insurance market, citing EY’s 2024 view that captive premiums now account for almost 25% of commercial insurance in the US. I–RE said it sees a gap for businesses that want the control of a single-parent structure without the complexity and cost it typically brings below roughly $5m to $6m of premium.
As part of RE–PAID’s update, I–RE increased commercial property primary capacity to up to $20m and general liability to up to $5m. The firm also added a new excess facility for both lines up to required limits, and enhanced structured support to fast-track brokers and clients from enquiry through to captive formation.
I–RE said RE–PAID allows clients to invest collateral into a single-parent captive and act as their own reinsurer with limited risk. It says collateral does not stack and risk is taken on annually, and that clients can control claims handling and downside protection while keeping profits instead of seeking only premium savings, with premiums intended to stay consistent.