UK Captives – threat or opportunity for Guernsey? 

• Captives utilised by government-owned entities could be first movers
• Half of UK-owned captives are domiciled in Guernsey today  
• Migration mechanism will be required for re-domestications to UK 

As the United Kingdom edges closer to launching its own captive insurance regime, the development is being watched closely across the captive industry.  

The UK Treasury announced on 15 July that the country’s insurance regulator – the PRA – had been instructed to design a “competitive and bespoke” supervisory regime for captives with the aim of implementation by mid-2027.