PRA has proposed a rule modification to Solvency 2 group supervision rules in respect of Bermudian-parented undertakings. PRA proposes that until their equivalence under the Solvency 2 regime is confirmed, a temporary application of standardised “other methods” to Bermudian groups can be justified. The modification is available to insurance and reinsurance undertakings authorised by PRA, the parent undertaking of which is an insurance holding company or mixed financial holding company which has its head office in Bermuda. (Source: PRA Proposes Modification to Solvency 2 Supervision for Bermudian Undertakings)