PRA Gives Green Light to Streamlined ILS Applications
30 May 2022
The PRA is creating a "green channel" to fast-track certain insurance-linked securities insurance special purpose vehicles ("ILS ISPV") applications, responding to calls from the industry to increase flexibility and speed of the regulatory application process and improve the competitiveness of the UK ILS Market. We have summarised the PRA's proposal and highlighted that it plans to consult on reforms to the application process. We have also set out the areas we consider that the consultation should cover. This should enable you to consider how to position your business in the face of these impending changes.
Clifford Chance
