PS31/18 - Equity Release Mortgages14 Dec 2018 | Newsletter/briefing
On 10 December the PRA published PS31/18, the policy statement to its July consultation on Solvency II and equity release mortgages (ERMs). No doubt to the relief of insurers holding ERMs as part of their matching adjustment portfolio, the PRA has backed down on part of its original proposals, although the core policy remains unchanged.
In this Briefing Note we summarise the key issues arising out of the policy statement.
Jonathan Marks (partner), Beth Dobson (professional support lawyer)
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