Last month the UK government closed its long-awaited consultation on the creation of a captives regime.
A number of organisations have used the consultation as an opportunity to call for tailored legislation, including broker Marsh McLennan, which said the UK needed streamlined incorporation and approval procedures, bespoke regulation and capital and reporting requirements that were “fair, proportionate and reflective of the low risk nature of captives”.
Another organisation in favour was Airmic, the Association of Insurance and Risk Managers in Industry and Commerce, which represents the interests of corporate insurance buyers.
To understand more about what a UK captives regime might look like, Insurance Day speaks with Airmc’s chief executive Julia Graham.