5 April 2018
On 28 March 2018, the Bank of England ("BoE") issued a press release on its regulatory approach to Brexit. In the press release, the BoE published a number of documents including a policy statement setting out the Prudential Regulation Authority’s ("PRA") revised approach to the authorisation and supervision of international insurers (PS4/18), together with a related "Dear CEO" letter on firms’ preparations for Brexit. This note examines the impact of the publications on insurers’ Brexit planning.
Update: The PRA's regulatory approach to insurer's preparations for Brexit