PRA outlines supervisory framework for ILS

City of London

The Prudential Regulation Authority has published final rules setting out how it will authorise and supervise insurance special purpose vehicles, which will be used to issue insurance linked securities in the UK.

The new rules will be formally adopted once the 2017 Risk Transfer Regulations, which were laid before parliament last month, come into force.

The PRA said it would grant authorisation if the ISPV

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