Regulation

Arizona is considering changes to its legislation that would allow captives to register as dormant, in addition to reducing minimum capitalisation requirements for captives that are not single parent.

The Federation of European Risk Management Associations (FERMA) is hopeful there will be more regulatory consistency between EU captive domiciles once Solvency II reform is implemented, but questions remain over implementation.

The Indian government is preparing once again to introduce a captive framework to its insurance legislation, according to multiple reports in the country’s media.

The increasingly competitive European domicile landscape has led the EU’s overarching insurance regulator to publish an opinion which aims to further harmonise the supervision of captive (re)insurers across the economic bloc.

Three captive insurance companies surrendered their licences in 2023, taking its total number of captives at year-end down to 64.

France’s first year as a captive domicile has been hailed a success, but a stronger local ecosystem and continued education will be key if the jurisdiction wants to build on its early achievements.

There is hope that Solvency II amendments will allow for greater proportionality in the regulation of of captives domiciled within the European Union (EU), but the proposals stop short of giving captives their own classification.

News that UK Prime Minister Rishi Sunak is calling an early general election could delay progress on the introduction of captive regime in the United Kingdom.