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Boards Must Confront Risk-Hungry Insurers’ Finances: PRA

Law360, London (May 17, 2018, 5:12 PM BST) -- The U.K.’s Prudential Regulation Authority said Thursday that the boards of U.K. insurance companies must properly scrutinize and challenge their firms’ financial management and planning, especially those with high appetites for risk and fast-changing capital reserves.

The regulator said in a policy statement published Thursday that insurance firms must put together a statement that shows how willing they are to take risks and how these risks would fit into their financial plans. The firm’s management must use this statement to scrutinize the insurer’s finances, particularly their...
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