PRA Plans Updates To Insurance-Linked Securities Rules
Law360, London (September 3, 2019, 4:51 PM BST) -- The U.K.'s Prudential Regulation Authority on Tuesday proposed updates to the rule book for insurance-linked securities as it takes stock on the U.K.’s first two years in the lucrative market for the products.
The regulator suggested a more flexible approach to the documentation and capital buffer requirements imposed on Insurance Special Purpose Vehicles, which financial institutions use to issue the lucrative securities.
The watchdog sought to clarify how its regulations for the securities interact with European Union rules that aim to make sure the insurance industry has enough capital to withstand a financial crisis, known as Solvency II.
U.K. firms issuing...
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