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Financial authorities must ‘massively expand’ risk-sharing pools. -
The UK government’s policy paper provides for use of secondary legislation to make changes.
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The ratings agency said the island would continue to provide a beneficial environment for carriers overall.
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The carrier said its $110mn net claims burden will be unaffected.
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Trade body Insurance Europe has warned the Prudential Regulation Authority (PRA) that the temporary regime enabling EU reinsurers to trade in the UK will close before they know which of the Solvency II reforms will be taken forward.
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The Competition and Markets Authority will investigate whether the deal lessens competition in the UK.
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Discussions with industry and in-country partners have so far foregrounded parametric solutions.
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He becomes the first service company provider to hold the title.
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The National Association of Professional Insurance Agents said members have not received adequate training for the new system.
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It will now take just three business days for such insurers to become registered on The Island.
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Huge disputes over aggregation of claims and ongoing coverage disputes point to uncertain overall exposures.
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Environmental, social and governance (ESG) factors were the primary driver in 13% of ratings actions in the year to the end of March, according to AM Best.
