UK: Converting standard car to kit car to reduce insurance?

I'm 19 and I drove a Jaguar S-type in the US. I've moved back to the UK and my insurance premiums are looking around 7000 (roughly 4x of what it was in the US). What I'm thinking is what if I buy an s-type, and replace the engine with a small 1.6L engine (I don't care about speed, just luxury) and change the car to a 'kit car' status, will that lower my insurance to a more affordable rate? Thanks for any advice.

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