Insurers could lose up to 17% of their own funds if there was a credit shock, according to results of a wide-ranging stress test of the market.
The House of Commons’ and the Treasury Committee’s influence on the appointment and dismissal of the FCA’s CEO has been heightened, according to the latter’s chair, Andrew Tyrie.
The Financial Conduct Authority and Prudential Regulation Authority have today published proposals aimed at improving the transparency and effectiveness of the FCA's and PRA's enforcement decision-making processes.
Acting Financial Conduct Authority CEO Tracey McDermott is to leave the organisation on 1 July, the regulator has confirmed.
The Prudential Regulation Authority's insurance executive director Sam Woods has been promoted to replace Andrew Bailey as PRA CEO.
Regulators have confirmed Flood Re will be authorised from tomorrow ahead of the scheme’s 4 April start date.
Regulation is a good thing … except where it is bad thing.
Insurers have welcomed the launch of the Senior Insurance Managers Regime, however, there remains uncertainty as to what extent top ranking employees will be impacted.
The Association of British Insurers has launched an industry forum on prudential regulation with RSA group capital and financial risks director David Innes appointed as chair.
Post is delighted to reveal its 2016 Power List, a carefully (wine) crafted list of movers and shakers both within and without the insurance industry who we at Post Towers – with our experience, knowledge and independent view – believe will either have…
Wide-ranging criticism of the nascent Solvency II regime by the UK has received initial support, despite the fact that the regulatory system is little over a month old.
Incoming Financial Conduct Authority CEO Andrew Bailey has been challenged by an MP to prove his independence from the government after accusations he was "hand-picked" by Chancellor of the Exchequer George Osborne to take on the role.
The Prudential Regulation Authority has today imposed a £25,173 fine on Colin McIntosh, CEO of Millburn Insurance and has banned him from holding any controlled functions at any PRA-authorised firm.
The news that then Financial Conduct Authority CEO Martin Wheatley was not to have his contract renewed by Chancellor of the Exchequer George Osborne was followed by plenty of column inches predicting who his successor would be and what it would mean for…
The appointment of the Prudential Regulation Authority’s highly regarded CEO Andrew Bailey to the top job at the Financial Conduct Authority has been welcomed by industry leaders who have praised Bailey’s clout and “deep regulatory experience”.
There remains regulatory pressure on insurers despite Solvency II models gaining approval.
Professional services firm EY has warned insurers and regulators to prepare for a busy 2016 as companies start to embed the Solvency II Directive.
The Prudential Regulation Authority has approved the use of a full or partial internal model under the Solvency II Directive for 19 insurers for use from 1 January 2016.
Inter Hannover will buy Congretional and General Insurance, subject to regulatory approval.
Allianz Insurance, as part of the Allianz SE group, has gained regulatory approval to implement an internal model to calculate capital requirements under Solvency II.
Munich Re and Swiss Re are the leading reinsurers that have so far contributed to the £1.29bn yearly cover for the Flood Re scheme.
Government and insurers need to cooperate against cyber crime as they already do against traditional risks.
Concerns around timing and excluded properties were raised by members of the House of Lords in debating the regulations to govern Flood Re yesterday (27 October).
Strong regulation of the insurance sector is a necessity that safeguards customer interests, but this needs to be balanced with protecting the commercial viability of insurers.