David Bailey, Executive Director for Prudential Policy at the PRA, said the regime “will enhance the UK’s competitive edge in insurance,” adding that “ahead of the formal launch in 2027, we are keen to speak to any businesses that could benefit from establishing a UK-based captive.” Sarah Pritchard, deputy chief executive of the FCA, said a competitive option “could benefit UK companies and support wider economic growth,” describing the approach as “pragmatic and proportionate, with appropriate safeguards in place.”
