PRA Rulebook—introduction for the insurance and reinsurance sector
PRA Rulebook—introduction for the insurance and reinsurance sector

The following Insurance & Reinsurance practice note provides comprehensive and up to date legal information covering:

  • PRA Rulebook—introduction for the insurance and reinsurance sector
  • Structure of the PRA Rulebook
  • Solvency II firms
  • Non-Solvency II firms
  • Non-authorised persons

On 29 August 2015, the Prudential Regulation Authority (PRA) published the PRA Rulebook (Rulebook). The transition from the Handbook to the Rulebook was intended to benefit PRA-authorised firms, to access clearer and more concise rules. Alongside the Rulebook, supervisory statements and statements of policy, facilitate a comprehensive understanding of the PRA’s requirements.

The Rulebook is divided up to cover three main sectors: banking and investment, insurance, and non-authorised persons, the first two sectors containing sub-sectors divided into directive and non-directive firms.

The Rulebook can be found here.

Structure of the PRA Rulebook

The three main Rulebook sectors are divided into the following sectors:

  1. Banking and Investment Rules: Capital Requirements Firms (CRR Firms) and Non-Capital Requirements Firms (Non-CRR Firms)

  2. <•<

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