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UK and European Insurance Regulatory Developments, Autumn 2016
13 December 2016
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The UK Government has launched a review of risk and tax regulations, with a view to making the UK a global hub for Insurance Linked Securities ("ILS").
The PRA and FCA are working on new supervisory regimes and guidelines regarding Insurance Special Purpose Vehicles to facilitate the ILS market in London.
The ABI has responded to the UK Treasury Select Committee’s inquiry into the implementation of Solvency II. The ABI has broadly supported the introduction of Solvency II as a positive development for the UK insurance market.
The PRA has published updated policy statements on Solvency II regarding model drift and Directors’ letters.
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