Reeves Plans Rule Change to Create Own-Cover UK Insurance Market

The UK government is planning to announce rule changes to help create a potential new insurance market worth billions of pounds as part of a drive to boost competitiveness.

Chancellor of the Exchequer Rachel Reeves is expected to lay out plans for a captive insurance regime in the UK around her Mansion House speech on July 15, according to people familiar with the matter. It follows a consultation kicked off by the Labour government last year on captive insurers, which are entities set up by companies or public institutions to provide their own insurance.