HM Treasury, the UK government’s department responsible for economic and financial policy, has outlined plans to advance legislation that would allow protected cell companies (PCCs) to be used within the UK’s captive insurance framework.
The proposals form part of a wider consultation considering how PCC structures could be expanded beyond their current role in risk transformation, including questions on necessary legislative changes, potential risks, and additional opportunities linked to their broader use in insurance.
HM Treasury reports that respondents generally supported removing the restriction limiting PCCs to risk transformation activities, noting that these structures are cost-effective and well-suited to captive insurance.
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