Seiko Epson set up a wholly owned reinsurance company in Hawaii with ¥8.1 billion of capital. It reinsures policies covering Epson and its group companies, a structure known as a captive. Epson said disasters and accidents have become more frequent and non-life insurance costs have risen, so it wants more control over its risks. The company The new company is called Epson Global Reinsurance, Inc. Hawaii's insurance regulator licensed it as a Class 2 single-owner captive, able to write both direct insurance and reinsurance, with a license date of September 11, 2024. Epson said it would not have a significant effect on results for the year to March 2025. Hawaii's captive market Epson's was the only new captive formed in Hawaii from July to September 2024, and the state ended that quarter with 269 captives. Almost all of Hawaii's foreign-owned captives belong to companies in the Asia-Pacific region.
