PRA: PS13/24: Funded reinsurance
26 Jul 2024 (UPDATED: 13 Mar 2026)
United Kingdom
1 min read
PRA has published a policy statement on funded reinsurance (FundedRe), which sets out expectations of life insurance firms entering into or holding FundedRe arrangements as cedants. The expectations come into effect today, 26 July 2024. PRA has also published a Dear CEO letter sent to life insurers. The letter explains how PRA expects firms who use FundedRe to assess their practices against the expectations set out in the Supervisory Statement (SS5/24).
For more information
- https://www.bankofengland.co.uk/prudential-regulation/publication/2024/july/funded-reinsurance-policy-statement
- https://www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/supervisory-statement/2024/ss524-july-2024-update.pdf
- https://www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/letter/2024/letter-ss524-funded-reinsurance-implementation-approach.pdf