News & Analysis as of

United Kingdom Life Insurance

Skadden, Arps, Slate, Meagher & Flom LLP

UK’s Proposed New Captive Insurer Regime: Key Developments and Next Steps

What is new: The UK government has proposed a new regulatory framework for captive insurance companies, aiming to simplify regulations and enhance competitiveness in the financial services sector. Why it matters: The...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Standard Formula: Encyclopaedia of Prudential Solvency – Chapter 3: Prudential Insurance Regulation in Japan

This chapter discusses prudential insurance regulation in Japan. Japan is the fourth-largest insurance market in the world, with a broad customer base and a varied range of offerings. This profile, coupled with ongoing...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Prudential Regulation Authority Discusses Recent Reforms to the UK (Re)insurance Market

The Prudential Regulation Authority’s (PRA’s) director of insurance supervision, Shoib Khan, recently clarified the PRA’s approach to the UK (re)insurance market, including in the following key areas...more

Skadden, Arps, Slate, Meagher & Flom LLP

The PRA’s Expectations for Funded Reinsurance: How To Comply

The PRA has released an important statement on its approach to funded reinsurance. Our view is that the statement endorses the conceptual principle that funded reinsurance (particularly to offshore counterparties) should best...more

Hogan Lovells

UK Insurance Horizon Scanner - May and June 2024

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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

Hogan Lovells

UK: PRA sets out its supervision priorities for insurers in 2024

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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

Skadden, Arps, Slate, Meagher & Flom LLP

What the UK PRA’s Scrutiny of Funded Reinsurance for UK Bulk Purchase Annuity Market Could Mean for Deals

The bulk purchase annuity (BPA) market — whereby UK defined-benefit pension schemes offload liabilities and assets to specialised life insurance carriers — continues to expand. Industry estimates predict that the UK life...more

Latham & Watkins LLP

Funded Reinsurance: the PRA Flags Risks From Schematic Review

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UK regulator continues to raise concerns that current market practices could lead to systemic risk. The Prudential Regulation Authority (PRA) has issued another communication, the latest of a series related to...more

Skadden, Arps, Slate, Meagher & Flom LLP

The UK PRA’s Priorities for Insurance Supervision in 2023

The UK Prudential Regulation Authority (PRA) laid out its priorities for insurance supervision this year in a 10 January 2023 Priorities Letter. In this newsletter, we summarise the broad themes emerging from the Priorities...more

Hogan Lovells

HM Treasury and the PRA start the consultation process on reforms to the UK’s Solvency II regime

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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

Hogan Lovells

FCA updates its supervisory strategy for Lloyd’s and London Market Insurers

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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

Hogan Lovells

FCA updates its supervisory strategy for life insurers

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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

Hogan Lovells

Weekly insurance regulatory news, August 2021 #2

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Flood insurance: UK government response to independent review Following the publication in November 2020 of a report on the independent review of flood insurance in Doncaster, the government has published a policy...more

Hogan Lovells

Insurance regulatory news, November 2020 # 4

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Recent regulatory developments of interest to insurers and their intermediaries. Among other things, includes UK FCA updates on preparing for the end of the UK-EU transition period.  ...more

BCLP

US/UK tax series: Estate planning issues for US/UK couples

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If you are a US citizen and your spouse or civil partner is not you need to ensure you have appropriate estate planning in place to avoid your heirs getting an unexpected tax bill following your death. In this guide we...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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As promised, the Fed on Wednesday announced “one of the most significant rollbacks of bank rules” since the White House changed hands in the form of a draft proposal that would loosen capital and liquidity requirements for...more

Hogan Lovells

Corporate Insurance Newsletter – March 2018

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The Hogan Lovells’ Corporate Insurance Newsletter for March has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. ...more

Katten Muchin Rosenman LLP

2016 Year-End Estate Planning Advisory

In 2016, we continued to experience a period of relative stability in our federal transfer tax system and have been able to plan without expecting imminent significant changes to the system. Under the American Taxpayer Relief...more

Carlton Fields

What’s Your Game Plan? Offensive or Defensive: Playing to Your Strengths [Expect Focus – October 2016]

Carlton Fields on

- AXA Prevails at First Post-Jones v. Harris Excessive Fee Trial - Potential Secondary Effects of Regulatory Examinations: Evidentiary Issues and Preclusion in Parallel Litigation - On The Horizon: Global...more

K&L Gates LLP

Case Alert: Employee Benefits Insurance – Does Coverage Apply to Employees Working Overseas?

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What happened? In Rai v Legal & General Assurance Society [2015] EWHC 170, the English High Court decided that coverage was not available under an employee benefits insurance policy due to the operation of an exclusion in...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

FHFA Updates Requirements for Freddie and Fannie Sales of Non-Performing Loans - On March 2, FHFA announced changes to requirements for sales of non-performing loans (NPLs) by Freddie and Fannie to reduce the number of...more

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