Captive insurance
The government is consulting on the potential for a new approach to captive insurance companies, with the aim of supporting the competitiveness of the UK insurance sector.
Captive insurance is a method of self-insurance and risk management. A captive insurer is an entity that insures or reinsures the risk of other companies within the same group. Typical users are large, often multi-national, companies and professional services firms, although smaller businesses and public sector entities also establish captives.
With sustained interest from stakeholders and in the context of a rapidly growing global captives market, the Government wishes to understand the potential of a new approach to captives to support the growth and international competitiveness of the UK’s insurance sector.