The Prudential Regulation Authority’s (PRA) proposal to allow UK captives to insure owner-controlled insurance programmes (OCIPs) could boost the appeal of its pending captive regime among companies involved in major infrastructure projects.
The PRA outlined its draft regulations (CP11/26) for captives in the United Kingdom on 14 July, including a new “proportionate and tailored” solvency regime outside of Solvency UK.
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