From: Captive Review
CICA president Dan Towle tells Captive Review a set of UK captive regulations would mark a “new era for the European marketplace”
The captive insurance sector is experiencing a period of sustained growth, according to Dan Towle, president of the Captive Insurance Companies Association (CICA), with Europe’s captive sector set to be one of major beneficiaries of this momentum.
Speaking to Captive Review at last week’s CICA conference, Towle reiterated his belief that “we’re in the golden age of captive insurance,” with the industry riding a wave of expansion both in the US and internationally. “Everything that’s going on in Europe is super exciting,” he said. “It’s contributing to a sustained period of global growth.”
Off the back of France’s success in recent years passing new captive legislation and registering more captives, another key driver of that European expansion is the UK’s potential emergence as a captive domicile.
The more we can do to support growth and collaboration, the better for the entire industry”
– Dan Towle, CICA President
Towle said an attractive UK domicile was something CICA has actively supported – going so far as to make a submission during the recent UK captive consultation.
“We had conversations with the London Market Group about what should be submitted in support of the UK becoming a captive domicile,” Towle revealed. “We did make a submission, and I think that’ll be very good for Europe. In fact, I think it’ll mark a new era for the European marketplace.”