Prudential Regulation Authority (PRA)
IUA calls for clarity on individual responsibilities
The International Underwriting Association has called on UK insurance regulators to clearly state the prime authority of company boards over individual responsibilities for complying with industry rules.
IUA airs experience fears over PRA's new insurance lead
The International Underwriting Association has revealed concerns over a lack of insurance experience at the Bank of England after Sam Woods was named executive director of insurance supervision.
PRA names Woods as insurance supervision lead
The Prudential Regulatory Authority has named financial stability strategy and risk director Sam Woods as its new executive director of Insurance supervision, replacing Julian Adams.
PRA expects total UK insurance capital to drop under Solvency II
The Prudential Regulatory Authority’s executive director of insurance has forecast that total capital held by insurers in the UK will likely drop under incoming Solvency II rules.
FCA suggests FSCS management levy to drop 7.4%
The Financial Conduct Authority is consulting on the Financial Services Compensation Scheme's proposed management levy for the next financial year which would see an overall 7.4% reduction in expenses.
Government to make FCA and PRA more accountable
Following a review the government has published a number of recommendations to ensure the way the financial regulators make enforcement decisions continues to be fair, transparent and efficient.
Editor's comment: What a difference a year makes
2014 is coming to a close and so much has happened but will insurers be sad to see it go? It was the year that started with Winter floods estimated to have generated a total bill of £500m and saw Labour Party Leader Ed Miliband demand insurers settle…
Editor's comment: The regulation pantomime
As we head into the pantomime season, it seems the insurance market’s Sleeping Beauty has awoken – and she means business.
PRA senior insurance managers regime sparks fears of bank-like regulation
Consultation reveals plan for more stringent controls on senior staff
Insurance execs should be 'grateful' to avoid PRA's banking approach
Insurance executives should be grateful the proposed introduction of a senior insurance managers regime by the Prudential Regulation Authority is not as stringent as the rules facing bankers, according to one legal expert.
PRA consults on regulatory regime for insurance bosses
The Prudential Regulation Authority is consulting on introducing a senior insurance managers regime to ensure those running regulated insurance companies behave with integrity, honesty and skill.
African reinsurer One Re gets UK regulatory approval
One Re, a reinsurer focusing solely on business from Africa, has received approval by the Prudential Regulation Authority and the Financial Conduct Authority.
2% rate rise in 2015 not enough to spark motor profitability, claims EY
Next year has been billed as the beginning of a trend in rising motor premiums by advisory firm EY, yet a predicted average 2% rise in 2015 will be below the rate of claims inflation.
PRA set to issue individual firm reviews following reserve release warning
Letter to industry CEOs raised concerns over the sustainability of reserve releasing
PRA writes to insurers warning about over-reliance on reserve releasing
The Prudential Regulation Authority has written to insurers in a bid to ensure firms are focused on sustainability after identifying an increase in reserve releasing in recent years.
LMA to offer climate change seminar for CEOs
The Lloyd's Market Association's educational arm has launched a leadership programme with the University of Cambridge to explore the implications of climate change for the insurance industry.
Industry welcomes PRA survey on ‘real threat’ of climate change risk
Insurers lack understanding of climate change’s implications for investments
PRA recruits Prudential's chief actuary for board slot
The Prudential Regulatory Authority has appointed an outgoing Prudential executive director to serve as an independent member of its board from May next year.
C-Suite - Broker: Time to embrace our similarities
Having made the leap from broking to an insurance company, I knew it would be different. I have had one or two ‘I don’t think we’re in Kansas anymore Toto’ moments but I always knew there would be a period of adjustment.
PRA won't seek to prevent orderly insurer failure
Insurers should be allowed to fail, as long as their exit is orderly, the Prudential Regulation Authority has stated.
Disaster Risk and Response Forum News - 12 June 2014
All the news from Post’s 2014 Disaster Risk and Response Forum
PRA releases supervisory statements aimed at insurers
The Prudential Regulation Authority today issued two supervisory statements aimed at insurers as the Bank of England continues its focus on activity in the industry.
