by Kenneth Underhill | Apr 24, 2024 | Insurers, Lloyd's, Operational Resilience, Prudential Regulation Authority, Risk, Senior Managers and Certification Regime, Solvency
The PRA published its business plan earlier in April and as with the FCA, there is unsurprisingly quite a significant focus on how it will deliver its new growth objectives now these are formally in place. As Sam Woods says in the foreword, it will be the first full...
by Kenneth Underhill | Mar 19, 2024 | Appointed Representatives, Blueprint Two, Brokers, Climate Change, Compliance, Consumer Duty, Culture, Digital, Enterprise Risk Management, Environmental Social and Governance, Fair value, FCA, HR, ICSR News, Insurers, IT, Kenneth Underhill, Lloyd's, Multi Occupancy Buildings Insurance, Operational Resilience, Operations, Pricing, Product Governance, Prudential Regulation Authority, Risk, Solvency, Vulnerable customers
The latest edition of Horizons, our quarterly report for senior leaders across compliance, risk and regulatory roles within insurance firms is now available. This edition covers:IntroductionThe Longer-term HorizonQ1 2024 Issues: GeneralFinancial Services Future...
by Claire King | Feb 19, 2024 | Prudential Regulation Authority, Risk, Solvency
This article was first published by Insurance Day in their Viewpoint section. Reform of the Solvency rules affecting reinsurers operating in the UK is well underway and remains one of the oft-referred-to benefits of our exit from the EU. The new secondary growth...
by Claire King | Jan 11, 2024 | Risk, Solvency
With the PRA and FCA now beginning to really focus on how they can effect change that helps them deliver on their new secondary growth objectives, it is worth looking forward to a change likely to take effect at the end of 2024. The evolution of Solvency II to...
by Claire King | May 16, 2023 | Climate Change, Compliance, Enterprise Risk Management, Environmental Social and Governance, Insurers, Operational Resilience, Prudential Regulation Authority, Risk, Solvency
The PRA Business Plan was released in early May and sets out their workplan, strategy and budget for the 2023/24 period of activity. As a key public statement from the Regulator, its importance in understanding the focus for the coming year sits alongside the earlier...
by Kenneth Underhill | Jan 26, 2023 | Climate Change, Culture, Operational Resilience, Prudential Regulation Authority, Risk, Solvency
On 10th January, the PRA issued a letter to all Life and General Insurers, setting out its supervision priorities for 2023. Nothing in the list of priorities should come as a great surprise to insurance firms, and in a recent meeting with a client we noted that there...