The Insurance and Reinsurance Undertakings (Prudential Requirements) Regulations 2023
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Change 1
7C Power of PRA to make rules
Notwithstanding regulation 7B, the PRA’s power to make general rules under section 137G of FSMA 2000 continues to include power to make rules permitting an insurance or reinsurance undertaking to use simplified methods to calculate risk margin which are proportionate to the nature, scale and complexity of the risk underlying its insurance or reinsurance obligations.
7C Power of PRA to make rules
Notwithstanding regulation 7B, the PRA’s power to make general rules under section 137G of FSMA 2000 continues to include power to make rules permitting an insurance or reinsurance undertaking to use simplified methods to calculate risk margin which are proportionate to the nature, scale and complexity of the risk underlying its insurance or reinsurance obligations.
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