Prudential Regulation Authority (PRA)
Insurer reserving in PRA’s crosshairs
Reserving has been reiterated as a key area of focus for the Prudential Regulation Authority, as the regulator suggested it could use its “formal powers” if insurance firms fail to meet standards.
Blog: The unrated conundrum - cover at all costs, but who pays the price?
There is a growing list of failed unrated insurers that continue to hit the headlines. Dean Bedford, underwriting director at CLS Risk Solutions, asks what is the answer to the unrated conundrum? Is unrated always bad, who is responsible and who pays the…
Trade voice: Biba's Steve White on less but more effective regulation
British Insurance Brokers' Association CEO Steve White ponders what proportionate regulation for insurance brokers should look like.
Analysis: Climate change - Getting to grips with global warming
Insurers have been forced into the front line of the fight to stop global warming and climate change and they are beginning to feel uncomfortable and exposed. While several major insurers have issued bold commitments to join the fight to halt global…
How climate change is impacting the risk profiles of financial institutions
A closer look at how board-level considerations of climate change must shift, and the potential consequences if they do not
Blog: Silent cyber - the challenges facing the insurance industry
Following a line of cyber-related regulatory developments, Lloyd's has announced it is mandating that “all non-affirmative policies provide clarity regarding cyber coverage by either excluding or providing affirmative coverage". But according to Barnaby…
Analysis: Investing in a sustainable future
European governments and a wide range of international governmental and non-governmental organisations are looking to big institutional investors to back the development of a sustainable, greener infrastructure. Insurers and pensions funds are top of…
Top 0.2% of firms to pay 61% of next year's FSCS levy
110 financial services firms will pay 61% of the Financial Service Compensation Scheme’s levy in 2019/20, according to indicative numbers published by the compensation fund.
PRA insurance boss takes role at FRC
The Prudential Regulatory Authority has appointed Anna Sweeney as interim director for insurance supervision.
Insurers call for removal of obstacles to investing in green projects
The Association of British Insurers has called on the Prudential Regulation Authority to tackle obstacles to insurers investing in greener assets, such as renewable energy.
This week in Post: Couples and coupes
With Valentine’s Day yesterday, the Post team started the week by bracing ourselves for an inevitable slew of romance-related press releases. We weren’t disappointed.
Insurers face Part VII transfer delays as Brexit looms
Exclusive: The government is mulling an extension to the deadline for insurers to get legal permission to move books of business from the UK to Europe.
Month in Post: Do insurers dream of Brexit?
We may not have flying cars, humanoid robots and exaggerated shoulder pads, but there is every reason to believe that the 2019 predicted by 80s film Blade Runner, looks very slightly dystopian.
Analysis: How insurers are preventing the Brexit brain drain
Insurers are coming up with ways to get round obstacles to doing business in Europe after Brexit
Interview: David Rule, Prudential Regulation Authority
With Brexit, increased scrutiny over reserves, climate change and emerging risks on the ‘watch’ list for 2019 The Prudential Regulation Authority certainly has a lot on its plate. Its executive director for insurance, David Rule spoke to Stephanie Denton…
Neon Underwriting appoints new CEO and managing director
Lloyd’s managing agency, Neon Underwriting Limited has appointed Theo Butt and Matthew Washington to the positions of CEO and managing director respectively, subject to Lloyd’s and PRA approval.
Regulators consult on impact of climate change on insurers
The Prudential Regulation Authority and Financial Conduct Authority have both invited insurers to respond to consultation papers on the impact of climate change on their operations and investments.
Markel snaps up Nephila in insurance-linked securities deal
Markel is to buy the world’s largest manager of insurance-linked securities, Nephila Holdings.
Guevara founder Anderson: incumbent insurers complicit in stalling true customer led-disruption
Despite the hype around insurtech, the barriers to entry remain high, not least because incumbents have reputational concerns that are hampering true customer-led disruption. Indeed, the likes of Lemonade have had to water down their original vision to…
This Week in Post: cars and courts
As Britain is basking in glorious summer, the sun is also shining on the motor insurance market.
Hiscox CEO casts doubt on UK ILS framework
Exclusive: Hiscox CEO Bronek Masojoda cast doubt on the UK regulator's ability to make good on its promise to create a flexible framework for ILS business in London.
Scor issues first UK cat bond in vote of confidence for London ILS regime
Scor has become the first reinsurer to use the new UK ILS regime to issue a catastrophe bond.
Brokers must analyse customers' exposure to Brexit
A panel of experts has told brokers at the British Insurance Brokers' Association annual conference that they need to be preparing for the UK's exit from the European Union and analysing their customers’ exposure.
State of the Broker Nation 2018: Probing broking
Michèle Bacchus spoke to brokers to find out their thoughts on regulation, their trade body and their opinion of the UK insurance market