PRA pushes on with recovery plans for domestic insurers

Firms asked to tackle sources of intragroup interconnectedness

The Bank of England

The UK prudential regulator has asked complex insurance groups to carry out resolvability assessments and put in place elements of recovery plans – the first move by a supervisor to extend global recovery and resolution requirements to domestic insurers. The Prudential Regulation Authority (PRA) has asked firms to map sources of interconnectedness within their groups and assess the impact of these in a major stress event, according to experts familiar with supervisory discussions. Recov