APCIA on making the UK insurance market more competitive for US insurers

Given the very close and collaborative relationship between the US and UK insurance markets, APCIA’s head of international and counsel Steve Simchak said the association was “excited” and “encouraged” by the UK government’s inquiry into the market’s global competitiveness.

APCIA’s submission to the House of Lords select committee urges the UK Prudential Regulation Authority (PRA) to rely on the group risk management systems at the corporate level of US insurers and reinsurers, rather than requiring a separate risk management plan for each UK subgroup of those organizations.

“The relationship between the US and the UK insurance markets is the closest

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