Prudential Regulation Authority (PRA)
Labour promises to rip up red tape for insurers
Tulip Siddiq, shadow economic secretary to HM Treasury, has promised if the Labour party gets into power she will make sure regulation encourages growth and competitiveness in the insurance industry.
Top 100 UK Insurers 2023: Personal lines insurers hardest hit by inflation
Valeria Ermakova, associate director for analytics at AM Best, reveals while reserving for claims inflation is shaking the nation's insurers, actions taken by the top 10 of this year's Insurance Post Top 100 UK Insurers List helped these providers hold…
PRA plans to supervise insurance branches post-Brexit
The Prudential Regulation Authority has set out how it will assess and supervise insurers based overseas with branches operating in the UK.
PRA to undertake general insurance stress test in 2025
In a statement released today, the Prudential Regulation Authority has revealed its intention to run a “dynamic general insurance stress test” some time in 2025.
FCA outlines plan to make insurance more inclusive
The Financial Conduct Authority and the Prudential Regulation Authority has finally published plans to make the insurance industry more diverse and weed out bullies and harassers.
PRA won’t tell insurers how to spend £100bn Brexit dividend
Prudential Regulation Authority CEO Sam Woods has said it will be for the government, not regulators, to ensure insurers invest the dividends of forthcoming reforms in the UK.
Admiral welcomes slimming down of insurer reporting rules
The Prudential Regulatory Authority’s latest review of the regulatory reporting it requires from UK insurers has been welcomed by Admiral.
Financial Services and Markets Act: A victory against the regulator?
The Financial Services and Markets Bill was given Royal Assent on 29 June 2023, but is it a victory for the insurance industry – or a missed opportunity?
Big Interview: Biba’s Graeme Trudgill
Graeme Trudgill, CEO of the British Insurance Brokers’ Association, sprints across the Square Mile to share his plans on what more the body can do for members.
Bank to gain power to intercede as insurers collapse
The UK government has announced plans to establish a dedicated regime to deal with the failure of insurance companies.
Regulators unveil ‘clearer’ complaints procedure
The Financial Conduct Authority, Prudential Regulation Authority and the Bank of England have finalised a revised scheme for complaints about regulators.
Has Solvency UK done enough to win your vote?
Editor's View: Emma Ann Hughes asks if the Prudential Regulation Authority’s Solvency UK plans are basically Prime Minister Rishi Sunak’s bid to garner favour with the insurance industry ahead of a general election.
Biba insists regulators cannot mark their own homework
The British Insurance Brokers’ Association has called for greater external scrutiny of the cost benefit analyses produced by regulators when they introduce new rules for the sector.
Three things you need to know about the PRA’s Solvency plans
Analysis: Emma Ann Hughes unpicks the devilish details in the Prudential Regulation Authority's 182-pages of proposals to throw the European Union's capital requirements for general insurers on the Brexit bonfire.
It’s insurtech Jim, but not as we know it - Lemonade’s PRA authorisation shows intent
Content director's view: Jonathan Swift looks at Lemonade's landmark PRA authorisation and two second claim record and contemplates whether the once start-ups trek to the mainstream is entering the final frontier.
Sam Woods, Prudential Regulation Authority
Sam Woods, chief executive of the Prudential Regulation Authority, is shaping the industry’s capital requirements and is willing to clash heads with the government if he doesn’t agree with their desire to rip up the European Union’s rulebook.
Podcast: What regulators have in store for insurers and brokers
Insurers hoping to see European Union rules ripped up this year are likely to be disappointed, Michael Sicsic, managing director of Sicsic Advisory, has warned in the latest Insurance Post Podcast.
Regulator warns insurers it is ready to mark ESG homework
The Prudential Regulation Authority told insurers to make sure they are doing their environmental “homework” because the watchdog will soon be marking it.
A smooth exit strategy is essential should things go south, says PRA
Shoib Khan, director of insurance supervision at the Prudential Regulatory Authority, warned that businesses and senior management must be ready to pull the plug on writing new business before things get too messy should market conditions become too…
PRA reveals its plans for the Solvency II reform
The Prudential Regulation Authority has promised that fewer insurers will be subject to the new Solvency II rules, and it won’t overturn the government’s plan to ditch the European Union’s capital requirements.
Farewell Gibraltar, hello PRA - is the tide about to turn for new UK-regulated insurers?
Content Director's View: With non-standard motor insurer Lumun looking for Prudential Regulation Authority authorisation, Jonathan Swift asks whether we might be entering a new dawn for home grown insurance companies.