As the UK’s top regulator, the Prudential Regulatory Authority (PRA), looks to further evolve the UK insurance-linked securities (ILS) regime, it’s outlined some proposed changes to the authorisation and supervision of insurance special purpose vehicles (ISPVs).
In a recently published consultation paper, the PRA notes that since the launch of the HM Treasury’s Risk Transformation Regulations in December 2017, which allowed for the creation and ongoing regulation of protected cell companies which could be used by ISPVs, additional experience has been gained.
This, alongside feedback from the industry, resulted in the PRA introducing an updated authorisation process, ultimately designed to improve speed-to-market and bring greater flexibility to the UK ILS regime.
FULL ORIGINAL PUBLICATION HERE
