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PRA letter on outstanding EU liabilities following the UK’s withdrawal from the EU

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Published on: 28 February 2020

Published by LNB News

LNB News 28/02/2020

Document Information

Issue Date: 28 February 2020

Published Date: 28 February 2020

Jurisdiction(s): England, Northern Ireland, Scotland, Wales and European Union

Article summary

The Prudential Regulation Authority (PRA) has published a letter from Anna Sweeney, its executive director, insurance supervision, to PRA-regulated insurance firms on their contingency plans to ensure ongoing service continuity in respect of EU liabilities. The letter is specifically relevant to firms which intend to rely on EU run-off regimes, or which intend to transfer their EU liabilities to an EU-authorised insurer but have not yet completed this process.

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