Regulators launch consultation for UK captive insurance

The consultation, which runs until 14 October 2026, seeks to implement a well-functioning UK captive insurance sector by mid-2027, according to the FCA. Core proposals include a timeline for decisions being set at four-to-six weeks; the implementation of a new category of insurer not treated as Solvency II firms; and permitted use of parental/group letters of credit; among other factors. Cormac Bradley, senior actuarial director, Broadstone, said: "What stands out is the shift away from formulaic regulation toward a more judgement-based approach. This should mean simpler capital expec...