Publication
Blue Bonds: Making a splash in the Capital Markets
In 2018, the Republic of Seychelles launched the first-ever “blue bond”, with the support of the World Bank Group and the Global Environment Facility.
Prudential Regulation Authority sets out expectations for insurers to manage increased growth and complexity in bulk annuity purchase market
United Kingdom | Publication | January 2025
The high demand in recent years for DB pension scheme risk transfer solutions means there has been rapid growth in the bulk annuity purchase market across the UK life sector.
As a result, on January 9, 2025, the Prudential Regulation Authority of the Bank of England outlined its 2025 priorities in a communication to UK life firms.
It urges them to “proactively manage in a prudent manner their capacity to support growth in the [bulk purchase annuity] business, and to ensure that high levels of competition... do not weaken firms' pricing discipline and incentivise weaker risk management standards”.
The PRA previously consulted on these issues in 2023, setting out its proposals in respect of life firms entering into or holding funded reinsurance arrangements as cedants.
The PRA will continue this focus on funded reinsurance over the coming year, and it encourages firms that do not fully meet its supervisory expectations to “make rapid progress in addressing gaps identified”.
Partner
Email
lesley.browning@nortonrosefulbright.com
Recent publications
Publication
Marine Money Week New York 2025
We are delighted to be participating in Marine Money Week New York 2025. As one of the landmark events for the global shipping finance community, and with the global shipping and maritime industry at such a pivotal juncture, we look forward to catching up with clients and contacts to continue discussions around navigating the current challenges and opportunities.
Publication
The parallel imposition requirement in exclusive distribution systems: key takeaways from the CJEU’s ruling in Beevers Kaas
On 8 May 2025, the Court of Justice of the European Union (the CJEU) delivered its ruling in case C-581/23 (the Ruling), providing guidance on one of the conditions for an exclusive distribution agreement to benefit from the block exemption under Article 4(b)(i) of the 2010 Vertical Block Exemption Regulation (the VBER)1, notably the so-called ‘parallel imposition requirement’.
Subscribe and stay up to date with the latest legal news, information and events . . .