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ILS market practitioners have welcomed changes made to the final proposals for a UK ILS framework, but noted that further key details on how the rules will be applied are yet to emerge.
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The UK Treasury's final version of regulations that will establish a framework for local ILS issuance have gone some way to addressing industry concerns
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Regulators have made some easy-win concessions in the final version of London's ILS framework to ensure that the system is workable for ILS managers
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The UK government has released final regulations for the London ILS regime, which have removed a controversial requirement for pre-issuance approvals of individual risk transfer deals.
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Bermuda's Progressive Labour Party (PLP) claimed victory in the island's general election yesterday, regaining control of the House of Assembly from the One Bermuda Alliance (OBA), which had been in power since 2012.
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US officials will shortly sign and announce plans on implementing a "covered agreement" with the EU that should make it easier for insurers and reinsurers to compete in both continents.
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The next step in creating a London ILS framework should be made shortly as final regulations will be put before the UK parliament, senior advisor to the cabinet office Michael Wade said in a panel discussion at the Reactions London Market (re)insurance conference today.
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The New Zealand government has announced plans to increase the insurance limits covered by the state-backed Earthquake Commission (EQC) under an upcoming legislative reform
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The final version of the Insurance Open Protocol has cut back the frequency of reporting it requires from ILS managers in response to feedback received during the consultation period.
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The ILS framework for London is likely to remain a priority within the Treasury despite the UK general election reducing the Conservative party's representation, according to sources
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The ILS market will expect good service from London market regulators if they are to use the UK's upcoming ILS regulations, said a panel of speakers at a recent ILS Insight event hosted in Zurich by Guernsey Finance.