News

Airmic CEO Julia Graham has welcomed the Government’s go-ahead for a UK captive regime, and has re-emphasised the need for an “ambitious and competitive framework” that is proportional and risk based.

Aon has committed to launching a captive management company in the United Kingdom, following confirmation from Chancellor Rachel Reeves that a bespoke regulatory regime will be introduced for captive insurance companies.

His Majesty’s Treasury has confirmed it will go ahead with designing and implementing a captive insurance regulatory framework for the United Kingdom.

AM Best has affirmed the ‘A-‘ (Excellent) financial strength rating of Texas-domiciled Quanta Insurance Company, Inc (QIC), the single parent captive owned by Quanta Services, Inc.

Norwegian train company Norske Tog has established a pure captive in its home country, making it the second new captive established in the territory in the last 12 months.

German telecommunications company, Deutsche Telekom, is looking to form a brand-new captive in Germany.

 If the UK introduces a competitive captive regime, the jurisdiction has the potential to be a bigger domicile than France, largely due to its robust insurance ecosystem, according to Stephen Massey, insurance tax specialist at Ernst & Young (EY).

As employee benefits (EB) programmes develop and companies look to negate rising health care costs, captives can be the “perfect fit” for firms, according to MAXIS Global Benefit Network CEO, Mattieu Rouot.