The HM Treasury (HMT) has revealed that group life products and employee benefits will be included in a future consultation for the expansion of captive insurance.
Captive insurance is a method of self-insurance and risk management often utilised by large, multi-national companies. A captive insurer takes the role of insuring or reinsuring other companies within the same group. HMT's consultation response acknowledged that "certain life insurance products" may not carry the same "long-term liabilities (and associated risks) as other life insurance products". It continued by saying that the "regulators will consider an appropriate scope for those captives – including particular risks that should be included in a revised regulatory framework". ...
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