Legacy firms may face S166 reviews for some Part VII deals
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Legacy firms may face S166 reviews for some Part VII deals

Marcel Le Gouais
12 August 2021
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Legacy carriers may have to undergo Section 166 reviews ahead of Part VII portfolio transfers in future under proposals from the Prudential Regulation Authority (PRA).

The in-scope criteria for the proposals include when a transfer involves non-life business in run-off with technical provisions of over £100mn ($139mn) and where the scheme will increase the acquirer’s technical provisions by 10% or more.

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Topics

News Regulation PRA Legacy
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Marcel Le Gouais
Deputy Editor
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