PRA proposes clampdown on solvent schemes

The PRA has put down a clear marker that policyholder interests must come first when insurers are looking for ways to return capital to shareholders.  It is particularly concerned that schemes of arrangement used by solvent insurers to achieve an… Read more

PRA changes statement on solvent schemes, but remains wary

The PRA has recognised opposition to its proposed clampdown on solvent schemes in a Supervisory Statement (see SS3/14) published on 25 April 2014.  The PRA's previous language, describing its dislike of solvent insurers' use of schemes of arrangement to achieve… Read more