Following a framework consultation earlier this year, the government is consulting until 18 January 2017 on two sets of regulations which will:
· introduce a new corporate structure for multi-arrangement insurance special purpose vehicles (mISPVs) and propose a new regulated activity of insurance risk transformation under FSMA 2000; and
· set out a new regulatory and tax framework for insurance-linked securities.
The Prudential Regulatory Authority and Financial Conduct Authority will consult separately on their approach to the authorisation and supervision of insurance special purpose vehicles. Insurance-linked securities are an alternative form of risk mitigation for insurance and reinsurance firms, which offer these firms a means of transferring risk to the capital markets. The aim is to help maintain London’s position as a global hub for reinsurance business. The government will place final regulations before Parliament in the spring. See http://bit.ly/2ghn1uR.
Following a framework consultation earlier this year, the government is consulting until 18 January 2017 on two sets of regulations which will:
· introduce a new corporate structure for multi-arrangement insurance special purpose vehicles (mISPVs) and propose a new regulated activity of insurance risk transformation under FSMA 2000; and
· set out a new regulatory and tax framework for insurance-linked securities.
The Prudential Regulatory Authority and Financial Conduct Authority will consult separately on their approach to the authorisation and supervision of insurance special purpose vehicles. Insurance-linked securities are an alternative form of risk mitigation for insurance and reinsurance firms, which offer these firms a means of transferring risk to the capital markets. The aim is to help maintain London’s position as a global hub for reinsurance business. The government will place final regulations before Parliament in the spring. See http://bit.ly/2ghn1uR.
