Clifford Chance

UK government’s response to insurer resolution regime consultation

7 September 2023

In January 2023, HM Treasury (HMT) initiated a consultation on the proposed Insurance Resolution Regime (IRR), intended to equip the Bank of England with increased authority to manage systemic insurer failures in a flexible manner.

For more detail about the proposed IRR, please refer to our briefing: “HM Treasury Consults on New UK Insurer Resolution Regime – February 2023.”

The consultation received 13 written responses, supplemented by engagement sessions with stakeholders and this briefing summarising the outcome of that process. References in this briefing to “insurance” also include “reinsurance”.

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