UK Captive Regime Requires Flexibility, Scope and Speed of Licensing

Marsh McLennan’s UK CEO emphasized the need for the UK to build a modern, efficient captive insurance regime to enhance its competitiveness post‑Brexit. The firm called for proportionate capital and reporting requirements that reflect captive risk profiles rather than treating them like traditional insurers. Flexibility in licensing scope and faster application processes were highlighted as key to attracting both domestic and international captive owners. Industry groups, including the London Market Group, support regulatory proportionality and cell structures to draw captive business onshore. The overall message: unless the UK streamlines and tailors its captive framework, it risks losing out to established domiciles like Bermuda and Guernsey.

Source: Reinsurance News

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