Captive insurance
Read the full outcome
Detail of outcome
Having carefully considered all the feedback received, the government considers that the introduction of a new UK captive insurance framework will enhance the international competitiveness of the UK insurance sector, support economic growth, and provide businesses with a greater range of risk management options.
The government therefore intends to proceed with the introduction of a dedicated, competitive framework for captive insurance in the UK. Further details, including next steps, can be found in the government’s published response.
Original consultation
Consultation description
Captive insurance is a method of self-insurance and risk management. A captive insurer is an entity that insures or reinsures the risk of other companies within the same group. Typical users are large, often multi-national, companies and professional services firms, although smaller businesses and public sector entities also establish captives.
With sustained interest from stakeholders and in the context of a rapidly growing global captives market, the Government wishes to understand the potential of a new approach to captives to support the growth and international competitiveness of the UK’s insurance sector.
Documents
Updates to this page
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Updated with Consultation Outcome
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First published.