With the consultation on reforms to the UK’s insurance special purpose vehicle (ISPV) regulatory regime underway, Sam Woods, the CEO of the Prudential Regulation Authority (PRA) has highlighted this as a priority for driving competitiveness and growth.
As we reported back in November, the consultation on reforms for the insurance special purpose vehicle (ISPV) regulatory regime, which includes an accelerated pathway for certain catastrophe bond applications and a 10-day target for approvals of certain insurance-linked securities (ILS) arrangements, was officially launched.
Laying out the PRA’s priorities for 2025 in a letter to Prime Minister Keir Starmer, Woods highlighted these updates to the UK ILS regulatory regime.
