The Bank of England and the Financial Conduct Authority (FCA) have set out proposals for a dedicated captive insurance regulatory regime in the UK.
It is part of a wider push to strengthen the country's "competitiveness" in financial services.
The Prudential Regulation Authority (PRA) and the FCA have opened a consultation on the framework, with responses invited until 14 October 2026.
Captive insurers are entities set up by companies or public bodies to underwrite their own risks, rather than buying cover from the open market.
The regulators indicated that the initiative could support an insurance market worth billions of pounds.
It is part of a wider push to strengthen the country's "competitiveness" in financial services.
The Prudential Regulation Authority (PRA) and the FCA have opened a consultation on the framework, with responses invited until 14 October 2026.
Captive insurers are entities set up by companies or public bodies to underwrite their own risks, rather than buying cover from the open market.
The regulators indicated that the initiative could support an insurance market worth billions of pounds.
3 months ago
