14 Dec 2018

PS31/18 - Equity Release Mortgages

Briefing note on the PRA's policy statement on Equity Release Mortgages

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.


PS31/18 Equity Release Mortgages

 

This material is provided for general information only. It does not constitute legal or other professional advice.

Contact Information
Jonathan Marks
Partner at Slaughter and May
London