FIN.

HM Treasury publishes response to consultation on Introducing an Insurer Resolution Regime

HM Treasury has published its response to the feedback received from its January 2023 consultation paper titled “Introducing an Insurer Resolution Regime”. The consultation sought feedback on proposals to establish a tailored resolution regime for insurers, granting the BoE new powers and tools to effectively handle the collapse of a systemic insurer. The primary goal of this regime is to strengthen the stability of the UK financial system, safeguard the broader economy, and minimise the disruption to policyholders if a systemic insurer faces failure.

The outcome of the consultation presents a summary of the feedback received during the consultation and outlines the government’s response to the concerns raised. The government plans to enact these proposals when Parliamentary scheduling allows and will maintain an ongoing dialogue with relevant stakeholders.

Jasmine Zacher