The PRA publishes their expectations of insurers using funded reinsurance
28 Nov 2023 - Estimated reading time: 10 minutes
On 16 November 2023, The Prudential Regulation Authority published a Consultation Paper, supplemented by a draft Supervisory Statement, to address their concerns on the management of risks arising from funded reinsurance arrangements within the UK life insurance market, following a thematic review and 'Dear CRO' letter on related matters earlier this year.
In our latest newsflash, we summarise the key changes presented in this paper and what this means for insurers.
This communication is intended for insurers, reinsurers, asset managers and banks only. It is published for informational purposes only, and does not constitute advice.