Solvent Exit Planning: Implications of the PRA proposals in CP2/24
On January 23, 2024, the Prudential Regulation Authority (PRA) published a consultation paper (CP) (CP2/24) outlining its proposals for PRA-regulated insurers to prepare for an orderly ‘solvent exit’ as part of business-as-usual (BAU) activities, and to be able to execute such a solvent
On November 16, 2023, the Prudential Regulation Authority (PRA) published consultation paper CP24/23: Funded reinsurance, setting out its proposed expectations in respect of life firms entering into or holding funded reinsurance arrangements as cedants.
The PRA recognises that such reinsurance arrangements are an important part of risk management. However, the PRA sets out its