Regulations implementing a new regulatory and tax framework for Insurance Linked Securities
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This consultation ran from
Seeking views on the government’s proposed regulatory and tax framework to enable Insurance Linked Securities business to take place in the UK.
PDF, 944KB, 79 pages
PDF, 391KB, 3 pages
To help cement London’s position at the forefront of the global reinsurance business, the government is consulting on a new regulatory and tax framework for Insurance Linked Securities business in the UK. Insurance Linked Securities enable insurers to transfer large and complex risks to capital market investors. A UK regime will help to strengthen the sector’s contribution to the UK economy and enhance the UK’s position as a leader in this global industry.
The consultation document sets out the approach to tax and regulation of ILS vehicles in the UK. It contains details on:
- the background to the consultation and our aims for the ILS project
- the responses received to the first ILS consultation in March
- the corporate structure of ILS vehicles to be used in the UK, which will provide for ILS vehicles to be set up as PCCs
- the taxation treatment of ILS vehicles and their investors
- the approach to authorisation and supervision of ILS vehicles by the PRA and FCA
Published: 23 November 2016
From: HM Treasury