Key transactions under review include asset-intensive deals like pension transfers and annuity reinsurance, while traditional solutions like mortality coverage remain excluded. Insurers must provide detailed documentation, including strategic rationale, solvency assessments, and governance approvals, ensuring a smooth two-to-four-week review process.

Given the global nature of many block transactions, the BMA continues to cooperate closely with other regulators worldwide. Transaction-specific regulator consultations are generally initiated to ensure alignment across jurisdictions.

The BMA advises insurers to engage in early discussions regarding planned transactions to facilitate a smooth approval process. Preliminary engagement can be incorporated into routine supervisory meetings or through ad hoc discussions about transactions at an advanced stage.

Typically, the review process takes two to four weeks for well-documented and proactively managed requests. However, incomplete submissions or lack of early engagement may result in delays.

Insurers are encouraged to familiarise themselves with these updated guidelines and ensure that all block transactions meet the BMA’s expectations. Early engagement and comprehensive documentation will be critical to navigating this regulatory landscape effectively.

The notice can be found here.