UK looks to ILS to boost insurance and reinsurance industry

Posted On: Mar. 27, 2018 6:54 AM CST

The U.K. government said that insurance-linked securities are central to keeping the country's insurance and reinsurance industry "at the cutting edge," Artemis.bm reports. The government passed the ILS regulatory and tax framework in December 2017 to help local insurers and reinsurers participate in the ILS market. Malcolm Newman, chairman of the ILS taskforce at industry body London Market Group, said that the introduction of capability to conduct ILS onshore will drive investors' participation in the market.