PRA publishes ‘Dear CEO’ letter on capital extractions by insurance firms in run-off

The PRA has published a ‘Dear CEO‘ letter which addresses capital extraction requests from insurance firms in run-off, and firms not supplying sufficient information to the PRA.

It reminds firms of the need to closely consider Supervisory Statement 4/14 on capital extractions, and sets out illustrations of the types of information they expect to see accompany a capital extraction request.