Further, a domestic regime is said to offer several advantages. A UK-domiciled captive would place the subsidiary in the same jurisdiction as the parent company, potentially reducing travel, administrative complexity, and tax and accounting complications. It could also make it easier to share finance and other corporate functions, access UK-based service providers and reinsurance capacity, and operate under a single regulatory environment. Artex also pointed to the UK’s ability, post-Brexit, to design a more proportionate solvency framework outside the European Union’s Solvency II regime.
