Prudential Regulation Authority (PRA)
Revealed: FCA and PRA unprepared for a Brexit
The industry’s two main regulators have not carried out any formal review of the potential impact of a Brexit, an investigation by Post can reveal.
Europe: Insurers need to prepare for the Audit Directive
Time is running out before implementation of the European Union Audit Directive and Regulation on 17 June
Insurers ‘most at risk from credit shocks’
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.
Parliament and Treasury Committee’s power ‘greatly strengthened’ in hiring process of FCA CEO
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.
Regulators publish proposals to improve enforcement decision-making processes
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.
McDermott to leave FCA in July
Acting Financial Conduct Authority CEO Tracey McDermott is to leave the organisation on 1 July, the regulator has confirmed.
PRA appoints insurance director Sam Woods as CEO
The Prudential Regulation Authority's insurance executive director Sam Woods has been promoted to replace Andrew Bailey as PRA CEO.
Flood Re gets PRA and FCA authorisation
Regulators have confirmed Flood Re will be authorised from tomorrow ahead of the scheme’s 4 April start date.
Editor's comment: The bad apple?
Regulation is a good thing … except where it is bad thing.
Concern expressed as 'rigorous' SIMR adds pressure on senior roles
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.
RSA's Innes to chair ABI prudential regulation forum
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.
The Post Power List 2016 is revealed
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…
UK authorities right to flag Solvency II concerns prior to 2018 review
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.
Bailey challenged to prove his independence in FCA role
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.
Milburn CEO McIntosh banned by PRA after failed PI insurer fined £2.86m
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.
Director of Content’s Comment: The right man for the FCA job?
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…
'Big player' Bailey backed by industry as FCA CEO
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”.
Risk Management: What next for risk?
There remains regulatory pressure on insurers despite Solvency II models gaining approval.
EY predicts busy 2016 for insurers with SII implementation
Professional services firm EY has warned insurers and regulators to prepare for a busy 2016 as companies start to embed the Solvency II Directive.
PRA approves 19 SII internal models
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.
Specialist church insurer sold to Inter Hannover
Inter Hannover will buy Congretional and General Insurance, subject to regulatory approval.
Allianz's internal SII model gets regulators' 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.
Flood Re secures £1.29bn towards reinsurance target
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.
State of the Insurer Nation Blog: Working in unison to combat insurance risks
Government and insurers need to cooperate against cyber crime as they already do against traditional risks.