Captives: A resilient strategy for the future – the 2026 captives survey of Airmic members

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Organisations face an increasingly complex, uncertain and rapidly changing risk landscape. The business reasons for using captive insurance are no longer dependent on insurance market conditions. In this risk context, captive insurance is now an established and mature tool as part of an agile and intelligent risk financing solution.

The UK government is in the process of establishing a captive insurance framework, in which Airmic has been a key stakeholder. In her Mansion House speech on 15 July 2025, Rachel Reeves, the Chancellor of the Exchequer, pledged to create a “genuinely competitive, bespoke captive insurance framework” in the UK. Airmic and its members have been involved in consultation and Subject Expert Groups (SEGS) set up by the Prudential Regulation Authority (PRA) to contribute feedback towards policy development and technical matters to deliver an appropriate captive regime for the UK.

In this second edition of its captives survey, Airmic continues to seek better understanding of the priorities and experiences of our members. New areas covered in this iteration of the survey include captives governance and access to reinsurance.