UK introduces write-down procedure for insurers’ policyholder liabilities

FSMA 2023 includes a court procedure for failing insurers to temporarily write-down liabilities, with implications for counterparties.

Filed under:
United Kingdom, Insolvency & Restructuring, Insurance, Litigation, Latham & Watkins LLP, Insolvency, HM Treasury (UK), Prudential Regulation Authority (UK), Solvency II Directive (2009/138/EU), Financial Services and Markets Act 2000 (UK)
Authors:
Victoria Sander , Tim Scott
Location:
United Kingdom
Firm:
Latham & Watkins LLP