On 1 April 2015, the Prudential Regulatory Authority (PRA) issued a Policy Statement on policyholder protection (PS5/15).  This provides feedback to responses received by it during certain recent consultations, including its policyholder protection/compensation consultation (CP21/14).  PS5/15 revises and clarifies certain proposals set out in the consultation papers (e.g. in relation to compensation limits) and sets out the final policyholder protection rules for the new PRA Rulebook.  The rules take effect from 3 July 2015 and seek to align compensation rules more closely with the PRA’s statutory objectives and to improve the effectiveness of the Financial Services Compensation Scheme (FSCS).  A statement of policy setting out the PRA’s expectations of the FSCS is also included as an appendix.  On 2 April 2015, the PRA issued a further Policy Statement (PS6/15) setting out rules in relation to the FSCS relevant to insurers.  On 1 April 2015, the PRA issued a Policy Statement on the PRA Rulebook (Part 2) (PS7/15).  Appendix 2 to PS7/15 (which explains PRA's approach to insurance business transfers in the UK) may be of particular interest to insurers.