Lloyd's Gets Regulatory OK For 2nd Investment Platform
By Irene Madongo (August 3, 2022, 5:41 PM BST) -- Lloyd's of London announced that it launched on Wednesday a second unit for funding underwriting operations, saying it believes the move will help its members manage their capital requirements.
The world's largest specialist insurance market said the Prudential Regulation Authority and the Financial Conduct Authority have given it the green light to sponsor the London Bridge protected cell company, or PCC. The approval was given after the completion of several successful deals through an initial platform known as the London Bridge Risk protected cell company.
A protected cell company is a single legal entity that consists of a core linked to...
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