United Kingdom: Insurance

The Prudential Regulation Authority has published proposals for a fundamentally new regulatory framework specifically designed for captive insurers in the United Kingdom, representing the most significant structural expansion of UK insurance regulation since Solvency UK. This tailored regime would create a distinct category of insurer with meaningfully lower capital, governance and reporting requirements, aimed at making the UK the location of choice for captive insurance business and onshoring captives cur

The High Court examined whether reinsurance losses from Covid-19 conference cancellations could be aggregated by jurisdiction under multi-line excess of loss treaties.

The Prudential Regulation Authority has unveiled proposals for a new UK captive insurance regime designed to boost competitiveness and provide businesses with greater flexibility in managing risk. The consultation paper outlines a bespoke framework with lower capital requirements, faster authorisation processes, and simplified governance structures compared to Solvency UK.