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UK Insurance Special Purpose Vehicle reforms put out for feedback

( November 15, 2024, 11:36 GMT | Official Statement) -- MLex Summary: UK insurance firms have been asked for feedback to the Prudential Regulation Authority on reforms to the UK Insurance Special Purpose Vehicle to securitize insurance risk. The deadline is Feb. 14 next year. The proposal is part of the new insurance regulation to replace EU-inherited law on which the PRA, the Bank of England's supervisory arm, published a final series of statements today. The new Solvency framework will apply from Dec. 31, while the rules on the special-purpose vehicle are expected to enter into force in mid-2025.Consultation and policy statements are attached....

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