Regulatory Alerts2026-07-14
Added · Updated
CP26/29: A tailored regime for captive insurance
The FCA and PRA propose a bespoke regulatory framework for single-parent captive insurers, restricting direct insurance to group entities and excluding coverage for consumers, SMEs, and policy stakeholders. The regime streamlines the authorisation process with a commitment to determine complete applications within 4 to 6 weeks and modifies FCA Handbook rules by disapplying consumer protection standards such as the Consumer Duty and ICOBS. Implementation is expected in mid-2027 following the conclusion of the consultation on 14 October 2026.