Luxembourg Captive Market Faces Uncertainty under Solvency II
According to information from the Commissariat aux Assurances, Luxembourg's insurance regulator, Luxembourg added 8 new captive insurers in 2015, bringing the total number of active captives to 217. Compared with 2014, this represents a net decrease of 7 captive insurers.
It is reported that Luxembourg is the largest captive domicile in the European Union. Affected by the EU's implementation of the Solvency II regulatory regime on January 1, 2016, as many as 15 captives ceased operations in 2015.
