Regulation

Richard is joined by the insurance regulators currently consulting on and implementing the United Kingdom's first captive insurance regulatory regime.

The Cayman Islands Monetary Authority (CIMA) has revoked Class B(ii) licence of Progressive Grocers Insurance SPC, Ltd after failing to pay fees, and meet solvency and reporting requirements.

Jonathan Edwards, Partner and Head of Insurance and Risk at HCR Law, provides an assessment of the July 2026 consultation papers and their implications for corporate Britain, traditional insurance programmes and insurers.

We take a closer look at the draft proposals for a new and bespoke captive insurance regime in the United Kingdom.

Industry stakeholders have broadly welcomed the UK's proposed captive regime, describing it as an important step towards a competitive international domicile while identifying re-domiciliation, tax clarity and additional captive structures as the next priorities.

The initial reaction to the first proposals for a UK captive regime has been positive from industry experts, although further clarification is already requested in areas such as tax, employee benefits and re-domiciliation procedures.

The Prudential Regulation Authority has outlined its draft regulations for captive insurers in the United Kingdom, including a new “proportionate and tailored” solvency regime outside of Solvency UK.

The Monetary Authority of Singapore (MAS) has launched a consultation on its proposed legislative framework for protected cell companies (PCCs).