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Clifford Chance

Clifford Chance

Briefings

Update: Implementation of the UK's insurance linked securities framework moves closer

16 October 2017

On 12 October 2017 the Risk Transformation Regulations (collectively, the Risk Transformation Regulations 2017 and the Risk Transformation (Tax) Regulations 2017) which implement the UK’s new regulatory and tax framework for Insurance Linked Securities (“ILS”) were laid before Parliament. The legislation will now be debated and is expected to be passed by Parliament in the next few weeks – this news will be welcomed by industry participants who wish to set up a UK ILS vehicle, although it is recognised that it may now be challenging for most market participants to complete the application process in time for January 2018 renewals.

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