The Chancellor of the Exchequer has delivered her second Mansion House speech and announced the “Leeds Reforms” in conjunction with publication of the awaited Financial Services Growth and Competitiveness Strategy and related...more
The UK government’s Financial Services Growth and Competitiveness Strategy published on 15 July 2025, identifies insurance/reinsurance as one of the sectors with ‘priority growth opportunities’ and as such the Strategy sets...more
A snapshot of key market and regulatory developments expected to impact the UK insurance sector over the next six months. 1 – 3 April Motor finance: The Supreme Court heard the three linked appeals, Hopcraft, Johnson and...more
The PRA has published its Business Plan for 2025/26, setting out the workplan for each of its strategic priorities and strategy to advance its primary and secondary objectives. The PRA comments that, alongside its continual...more
DATE DETAILS 1 January Critical third parties: Final rules and policy on critical third parties set out in the joint policy statement of the PRA and FCA (PS16/24 and PS24/16) came into effect. Certain requirements are subject...more
On 9 January 2025, the Prudential Regulation Authority (PRA) published its annual Dear CEO Letter setting out its priorities for the supervision of (re)insurers in 2025. Similar to last year, financial and operational...more
In December 2023, the Financial Conduct Authority (FCA) carried out a review of the most recent board and/or committee reporting from 20 larger insurance firms (including general and life insurers, insurance intermediaries...more
A snapshot of key market and regulatory developments expected to impact the UK insurance sector over the next few months. Coming up in May and June. MONTH DATE DETAILS MAY 31 ESG: all authorised firms need to comply with the...more
A snapshot of key market and regulatory developments expected to impact the UK insurance sector over the next few months.
Coming up in March, April and May. MARCH 5 Non-financial misconduct: Lloyd’s Managing Agents &...more
On 11 January 2024, the Prudential Regulation Authority (PRA) published its annual Dear CEO letter setting out its priorities for the supervision of (re)insurers in 2024. Similar to last year, financial and operational...more
A snapshot of key market and regulatory developments expected to impact the UK insurance sector over the next few months....more
A snapshot of key market and regulatory developments expected to impact the UK insurance sector over the next few months. MONTH DATE DETAILS OCTOBER 9 Insurance Distribution Directive (UK)...more
The provisions of the Insurance Distribution Directive (IDD) were implemented in the UK in 2018 through changes to the rules in the FCA Handbook. Supplemental requirements were contained in various delegated regulations (the...more
A snapshot of key market and regulatory developments expected to impact the UK insurance sector over the next few months. JULY 7 Definition of “insurance holding company”...more
A snapshot of key market and regulatory developments expected to impact the UK insurance sector over the next couple of months....more
The eagerly awaited sixth edition of the Financial Services Regulatory Initiatives Grid has been published by the Financial Services Regulatory Initiatives Forum. The delay to its publication (originally expected in November...more
On 10 January 2023, the Prudential Regulation Authority (PRA) published a Dear CEO letter setting out its priorities for the supervision of (re)insurers in 2023. Financial and operational resilience remain key areas of focus...more
A snapshot of key market and regulatory developments expected to impact the UK insurance sector over the next couple of months....more
A snapshot of key market and regulatory developments expected to impact the UK insurance sector over the next couple of months. NOVEMBER 2022 Financial Services Regulatory Grid: Financial Services Regulatory Initiatives...more
A snapshot of key market and regulatory developments expected to impact the UK insurance sector over the next couple of months. Month Date Expected development September 2022 Financial Services and Markets Bill: PRA is due...more
Yesterday (28 April 2022), HM Treasury published its much-anticipated consultation paper on its proposals to reform aspects of the UK’s Solvency II regime. At the same time, the Prudential Regulation Authority (PRA)...more
The FCA has recently published its latest supervisory portfolio letter (dated 28 September 2021) and addressed to the Boards of Lloyd’s and London Market insurers (LLM insurers). The letter gives an updated overview of what...more
The FCA has written to the Boards of personal and commercial line (PL&CL) insurers to give an updated overview of what the FCA considers are the key risks of harm PL&CL insurers pose to their customers and the markets in...more
In December 2018, the Financial Conduct Authority (FCA) wrote to the boards of life insurance companies setting out the FCA’s view of the key risks of harm life insurance companies pose to their customers and the markets in...more
The global pandemic brought a wave of changes and developments that have impacted, and continue to impact, the insurance sector. As we look ahead, we see further change on the horizon.
Around the world, we continue to...more
7/13/2021
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UK