UK ILS regulations approved by Committee, but not without questions

A UK government cross-party parliamentary committee has just completed a meeting in which it approved the Risk Transformation Regulations 2017 and the Risk Transformation (Tax) Regulations 2017, which will make up the UK ILS regulatory regime, but not without pertinent questions from those attending. In fact, listening in to the meeting read the full article →

UK ILS regulations face final Parliamentary committee

This afternoon the United Kingdom’s insurance-linked securities (ILS) and risk transformation regulations are to be debated by a cross-party parliamentary committee who will debate the measures and get to give the final approval before the new rules are enacted. Typically considered to be a formality, this stage of the process is read the full article →

PRA says UK ILS vehicles must be fully-funded before risk is transferred

The Bank of England’s Prudential Regulation Authority (PRA) has now assessed the United Kingdom’s insurance-linked securities (ILS) and risk transformation regulations and has now published its supervisory guidance on the ILS rules, which raise a few questions on how practical their implementation will be. The PRA has confirmed the regulatory approach read the full article →

UK ILS regulations laid before Parliament yesterday

The United Kingdom's insurance-linked securities (ILS) and risk transformation regulations were finally laid formally before the Parliament yesterday, one of the final steps required before they can be utilised by any ILS managers or reinsurers looking to transact collateralised reinsurance in the country. As we wrote yesterday, this has happened later read the full article →

UK ILS rule delay could reduce chance of Jan renewal ILS deals

The UK rules on insurance-linked securities (ILS) were supposed to have come before the Parliament in late September, but this has been delayed by the political conference season and as a result there is a fear that the regulation may not be finalised soon enough for any January renewal ILS read the full article →

UK ILS rules published, aim to keep UK reinsurance competitive

The UK government has published its finalised regulations that it says "introduce a competitive regulatory and tax regime" for insurance-linked securities (ILS) business and will help to ensure that the country remains "at the forefront of the global reinsurance market." The awaited rules which had been delayed by the calling of a read the full article →

ILS a glittering prize, London should not surrender it: LMA/Vario Partners

As the insurance-linked securities (ILS) industry continues to expand its remit and share of the global re/insurance market, London must respond to the opportunity through investment in innovation and by leveraging its expertise, talent and location, according to market experts. Organised by the Lloyd’s Market Association (LMA) and Vario Partners, a read the full article →

UK government targets Autumn launch for ILS regs, confirms priority

The UK government’s insurance-linked security (ILS) regulations remain a key priority despite the political uncertainty created by the recent election and subsequent hung Parliament, according to a letter sent by Her Majesty's Treasury to the London Market Group (LMG) today. Artemis has seen a copy of the letter sent to Nicolas read the full article →

ILS regulations to be delayed until after UK general election

The UK's insurance-linked securities (ILS) regulations will have their publication delayed, after Prime Minister Theresa May announced a snap election this week which means Parliament will not be able to consider the regulations until a new Parliament is convened after the vote. Earlier this week UK Prime Minister Theresa May announced read the full article →

Will ILS regulations offer UK re/insurance a competitive advantage?

Bringing insurance-linked securities (ILS) to London is clearly a hot topic and an important step for the regulators and facilitators in making London a modern, capital agnostic hub for global insurance and reinsurance business, but is it going to be enough to offer a competitive advantage? ILS and the new regulations read the full article →