FSA: new push on reinsurance transparency
The Financial Services Authority has proposed new rules that may require greater disclosure by insurers of their use of financial reinsurance. Earlier this year, the FSA wrote to firms asking about their use of financial reinsurance. The FSA said the responses have helped it to develop the proposals being consulted upon. The FSA is also looking into the use of financial reinsurance contracts by a number of insurers.
Financial reinsurance is a term that refers to certain types of reinsurance arrangements. These arrangements are used to improve, or sometimes to and smooth, reported profits, or to improve theOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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