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DDM is due to be removed as a core central service on 13 September. -
The LMG chair also discussed the need for tailored regulations.
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The changes lift the threshold for companies reporting in the Solvency UK regime to £25mn.
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The guide was developed collaboratively by the ABI’s AI Working Group.
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The approval takes account of several out-of-court settlements.
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The end of the waiting period effectively clears the path to close in the US.
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The ratings agency said the reinsurer had a “very weak” balance sheet.
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The Lloyd’s chair warned that clients, capital and talent “will not wait”.
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The watchdog says the wholesale market has “a way to go” on D&I.
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All parties interested in the case have agreed to participate in the process.
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The regulator is calling for comments on the deal by 13 February.
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The consultation will close on 26 April, with the PRA expecting to implement changes in Q4 2025.
