Regulations to help increase UK's share in ILS market: Official

Posted On: Dec. 1, 2017 5:11 AM CST

Malcolm Newman, chairman of the London Market Group's insurance-linked securities taskforce, said that the approval of the U.K.'s Risk Transformation Regulations 2017 and the Risk Transformation (Tax) Regulations 2017 will help to "grow the ILS pie", Artemis.bm reports. Mr. Newman said that the taskforce aims to grow the size and scope of the ILS market in the United Kingdom. The U.K.'s Parliamentary Delegated Legislation Committee approved the regulations on Nov. 29. The London Market Group expects the formalities to pass the regulations into law to occur on Dec. 4.