Securitas Group Reinsurance dac is one such company
Securitas Group Reinsurance dac a non-life reinsurance captive whose principal activity is the undertaking of reinsurance business in respect of the General Liability, Workers Compensation, Auto Liability and Employers Liability risks of the Securitas group.
Section 1551(1) of the Companies Act 2014 provides an exemption for captive insurers to establish an Audit Committee. This exemption exists where, inter alia, a body performs equivalent functions to an audit committee. The Board of SECURITAS REINSURANCE has determined that it will perform the equivalent functions of an audit committee for SECURITAS REINSURANCE and accordingly has taken responsibility to perform the equivalent functions to an audit committee for SECURITAS REINSURANCE