Regulation

While many factors contribute to a final decision around domicile selection – and every client may have unique requirements – costs, tax, and the regulator’s expertise are some of the most common considerations for captive owners. 

Richard discusses the shifting domicile landscape and the factors that go into choosing a jurisdiction with EY's Mikhail Raybshteyn and Ted Clabault, and Patrick Theriault, at Strategic Risk Solutions.

Credit rating agency Fitch is warning the UK government that a new, proportionate captive regime could lead to “growing pockets of risk” accumulating “outside the core regulated insurance sector” and increasing systemic risk.

To build an ambitious and competitive framework, the UK must look to the structures implemented by leading captive domiciles.

Richard is joined by a host of guests to share reaction and analysis of the news that the⁠ UK will be implementing⁠ a "bespoke" and "competitive" captive insurance regime by 2027.

The UK is already a very mature market when it comes to captive utilisation. The corporate community has not required a ‘home’ domicile to become, by some distance, the second largest captive owning country.

The United Kingdom has everything in place to provide a captive regime that is prosperous and attractive, but the devil will be in the detail, particularly when it comes to proportionality of future regulation, which will be a “key ingredient” in determining the jurisdiction’s future success. 

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.