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Multinational phase III: McDonalds captive

'Nigel is working on ... a little subsystem for McDonalds. ... McDonalds now have a captive. Captive basically means self insurance. ... What they do is, say that McDonalds want to insure a risk for a £1000, the premium would be a £1000 if they do that through X, they might decide that they want to keep some of that risk themselves. ... So say they form a captive ... put it offshore on the Isle of Man, Bermuda or whereever because of tax packages about. I mean like the captive takes half the risk, £500 or a tenth of the risk or whatever, nine tenths or whatever they want to do really. And then if there are any claims anywhere in the world, against that policy then X-Group will settle the claim and get the claim back off the captive. ... And equally if we're collecting that premium off round the world we collect the premium and pay whatever the captive requires. So McDonalds have formed this captive in Dublin, ... '

X041 page 006.04 (tape 04.1.04) Gordan Notes/Tape 14/06/94

Social influence: Environment: Customers
Technical influence:


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