Captives and/or other risk retention tools like cells have traditionally been used by businesses of different industries and regions to self-insure themselves and their risk. They offer a number of benefits, the key ones of which are enabling their parent companies to have better risk control and to optimise their total cost of risk. However the construction industry in Europe has been slower than other industries and regions to consider this strategic approach. But this is changing. There are a multitude of reasons that the use of captives is increasing in the construction sector. This is, in part, because they offer a wide range of new and innovative opportunities such as providing risk transfer alternatives to the hard insurance market and declining capacity in some coverages such as Professional Indemnity, the ability to provide reinsurance for surety bonds and captives can also be used to achieve positive outcomes in addressing ESG related risks and opportunities.  This panel session will assess the increasing use of captives within the construction industry and the various ways they can be deployed to meet modern day risks.