KPMG comments on the PRA’s latest policy statement on Funded Reinsurance (13/24)
The PRA has re-iterated today that it is drawing a line in the sand regarding the use of Funded Reinsurance says KPMG
The PRA has re-iterated today that it is drawing a line in the sand
In response to the PRA’s latest policy statement on Funded Reinsurance (13/24), James Isden, Insurance Partner at KPMG UK, said:
“The PRA has re-iterated today that it is drawing a line in the sand regarding the use of Funded Reinsurance. The expectation appears to be that life insurers will, with immediate effect, fundamentally revisit the volume, complexity and risk management of their Funded Reinsurance transactions.
“Firms have until the end of October to submit a convincing plan to their supervisors. It’s now up to insurers to decide how to balance the use of Funded Reinsurance, alongside enhanced oversight considerations for these arrangements, with the threat of further intervention if the PRA is not satisfied with the outcome.”
ENDS
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