Updated: Updated with latest regulations that have been laid in Parliament
To help cement London’s position at the forefront of the global reinsurance business, the government is consulting on a new regulatory and tax framework for Insurance Linked Securities business in the UK. Insurance Linked Securities enable insurers to transfer large and complex risks to capital market investors. A UK regime will help to strengthen the sector’s contribution to the UK economy and enhance the UK’s position as a leader in this global industry.
The consultation document sets out the approach to tax and regulation of ILS vehicles in the UK. It contains details on:the background to the consultation and our aims for the ILS project the responses received to the first ILS consultation in March the corporate structure of ILS vehicles to be used in the UK, which will provide for ILS vehicles to be set up as PCCs the taxation treatment of ILS vehicles and their investors the approach to authorisation and supervision of ILS vehicles by the PRA and FCA
Local copy of The_Risk_Transformation_Regulations_2017.pdf
Local copy of The_Risk_Transformation__Tax__Regulations_2017.pdf seen at 18:28, 12 October in Publications on GOV.UK.
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