PRA May Ease Burden On Insurers As It Rethinks Supervision

Law360, London (March 20, 2017, 1:45 PM GMT) -- The U.K.’s Prudential Regulation Authority signaled a sweeping rethink of insurance supervision on Monday and suggested it could further strip back firms’ unpopular reporting requirements.

Sam Woods, PRA chief executive officer, said the enormous task of implementing the Solvency II Directive — a European Union capital rulebook for insurers — had left everyone with “some degree of indigestion.”

“Now is the ideal time to refresh our approach to insurance supervision,” Woods said in a speech at the London Business School, adding that the PRA would now...
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