Shoib Khan, Director of Insurance Supervision at the Bank of England, said the PRA is moving to build a UK captive regime aimed at reversing decades of offshore migration, with 2027 set as the moment captives are finally “coming home” to the UK.
Captives are wholly owned insurance companies set up by businesses to insure their own risks, providing a dedicated form of self-insurance and risk financing within a group structure.
Speaking at the Airmic Annual Conference in Birmingham, Khan outlined plans for a new UK captive insurance regime, underscoring exactly why they matter and what the UK’s approach needs to look like to make 2027 the year they return to their historic home.
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