The UK’s Prudential Regulation Authority (PRA) of the Bank of England is continuing to work to simplify its approach to insurance-linked securities (ILS), still hoping the reinsurance market segment will “take off” in the country.
Speaking in March, Shoid Khan, a director of insurance supervision at the Prudential Regulatory Authority, explained that the goal is to smooth the flight path for those seeking to utilise the UK’s ILS regulatory regime.
It’s now more than five years since the launch of the HM Treasury’s Risk Transformation Regulations in December 2017.
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