by Claire King | Jan 14, 2025 | Actuarial, Authorisations, Compliance, Enterprise Risk Management, Insurers, Operational Resilience, Prudential Regulation Authority, Risk, Solvency
In a letter dated 9th January 2025 from Gareth Truran (Executive Director, Insurance Supervision) and Shoib Khan (Director, Insurance Supervision), the PRA has set out its insurance supervision priorities for 2025. Those who have long memories may observe that the...
by Palak Bedi | Mar 8, 2023 | Authorisations, Brexit
The political and practical ramifications of Brexit continue to evolve, with EIOPA putting the solutions adopted by many firms back in the spotlight recently when it issued its “Supervisory Statement on the use of governance arrangements in third countries to perform...
by Kenneth Underhill | Apr 26, 2022 | Authorisations, Compliance, Insurers, Lloyd's, Operations, Prudential Regulation Authority, Risk
Last week, the PRA published their annual Business Plan and proposals for the regulated fees and levies. It is a year that will likely see some significant challenges for the regulator and regulated firms with the Future Regulatory Framework proposals currently being...
by Kenneth Underhill | Mar 15, 2022 | Authorisations, FCA, Operations, Prudential Regulation Authority
Report Contents Introduction Governance Capital Underwriting Reinsurance Claims Actuarial Risk Compliance Internal Audit IT Corporate Additional Changes Summary Introduction There is a trend for MGAs to look at changing from an MGA model into a full insurer. Our...
by Kenneth Underhill | Jan 17, 2022 | Authorisations, Compliance, Operations, Prudential Regulation Authority, Risk
On 12th January, the PRA wrote to all life and general insurance CEOs, setting out their supervisory priorities for 2022. These should not come as a surprise to firms, with all previously covered in their business plan for the 2021/22 period released in May 2021. The...
by Craig Umbleja | Oct 19, 2021 | Authorisations, Brexit, FCA, Temporary Permissions Regime
The FCA and PRA have started to provide firms who are in the Temporary Permission Regime (TPR) with “landing slots”. These are 3-month windows by which firms must submit their applications to the regulator(s) in order to become fully authorised. If firms do not submit...
