UK proposes ILS framework

The UK Treasury has provided details on the proposed regulatory
framework that it hopes will attract insurance-linked securities
(ILS) business to London, envisaging a six-to-eight-week timeframe
for the Prudential Regulation Authority (PRA) to approve new
structures.
The Treasury will take feedback on the proposals until 29 April
and aims to publish draft regulations for a new ILS framework later
this year.
Senior adviser to the Cabinet Office Michael Wade said that the
global ILS market was he