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Insurance Industry Financial Services Industry Prudential Regulation Authority (PRA)

Skadden, Arps, Slate, Meagher & Flom LLP

The Standard Formula Podcast | Insurers in Difficulty: Staying Compliant Under Solvency II

“The Standard Formula’s” Rob Chaplin once again gives listeners a look at how to address some of the intricacies of Solvency II. In this episode, he is joined by Feargal Ryan for a discussion on how insurers should navigate...more

Skadden, Arps, Slate, Meagher & Flom LLP

The PRA’s Expectations for Funded Reinsurance: How To Comply

The PRA has released an important statement on its approach to funded reinsurance. Our view is that the statement endorses the conceptual principle that funded reinsurance (particularly to offshore counterparties) should best...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Standard Formula: A Guide to Solvency II – Chapter 8: Capital Requirements

The Solvency Capital Requirement (SCR) is designed to protect policyholders by helping ensure that insurers can survive difficult periods and pay claims as they fall due. It prescribes a specific level of capital that an...more

A&O Shearman

FAQs: UK FCA consults on plans to publicise investigations and amend its Enforcement Guide

A&O Shearman on

By now, you may have heard that the UK Financial Conduct Authority (FCA) is consulting on changes to its approach to publicising enforcement investigations, as well as other changes to its Enforcement Guide. If they come into...more

WilmerHale

Toxic Culture Review: FCA Statutory Demand for Non-Financial Misconduct Data

WilmerHale on

“The wholesale insurance market in particular has a long way to go in having an inclusive culture...areas for improvement include...preventing and handling non-financial misconduct,” stated the Financial Conduct Authority...more

Hogan Lovells

UK Insurance Horizon Scanner - October, November and December 2023

Hogan Lovells on

A snapshot of key market and regulatory developments expected to impact the UK insurance sector over the next few months. MONTH DATE DETAILS OCTOBER 9 Insurance Distribution Directive (UK)...more

Latham & Watkins LLP

UK Proposes Insurer Resolution Regime

Latham & Watkins LLP on

The proposals would give the Bank of England wide-ranging powers to deal with acute failure scenarios, treating policyholder liabilities as loss-absorbing. HM Treasury (HMT) is proposing1 a new UK resolution regime for...more

Latham & Watkins LLP

The Edinburgh Reforms - Where Are We Now?

Latham & Watkins LLP on

As the pace of reform increases, we take a look at key developments and the timeline ahead. Significant progress has been made on the Edinburgh Reforms since they were announced in December 2022, with developments...more

Skadden, Arps, Slate, Meagher & Flom LLP

The UK PRA’s Priorities for Insurance Supervision in 2023

The UK Prudential Regulation Authority (PRA) laid out its priorities for insurance supervision this year in a 10 January 2023 Priorities Letter. In this newsletter, we summarise the broad themes emerging from the Priorities...more

Hogan Lovells

PRA sets out its supervision priorities for insurers in 2023

Hogan Lovells on

On 10 January 2023, the Prudential Regulation Authority (PRA) published a Dear CEO letter setting out its priorities for the supervision of (re)insurers in 2023.  Financial and operational resilience remain key areas of focus...more

Skadden, Arps, Slate, Meagher & Flom LLP

From Solvency II to Solvency UK: The UK Government Announces Its Post-Brexit Solvency II Reforms

Following the UK’s departure from the European Union (Brexit) on December 31, 2020, the UK is now exercising its freedom to move away from key EU insurance prudential regulatory standards. These moves include liberalization...more

A&O Shearman

UK Climate Financial Risk Forum Publishes 2020 Guide

A&O Shearman on

The U.K. Climate Financial Risk Forum has published its first guide providing practical recommendations for the financial services sector on how to respond to climate-related financial risks. The CFRF was established by the...more

Hogan Lovells

UK: Focus on Climate Change and Green Finance

Hogan Lovells on

On 5 June 2019, the Treasury Committee launched an inquiry into the decarbonisation of the UK economy and green finance which will look at the role of the UK regulators and financial services firms in supporting the...more

WilmerHale

The FCA's First Annual Financial Crime Survey Results

WilmerHale on

On 13 November 2018 the UK Financial Conduct Authority (FCA) published its inaugural report analysing data gathered from over 2,000 firms - including all UK-based banks and building societies - in response to the FCA’s first...more

Hogan Lovells

Corporate Insurance Newsletter – September 2018

Hogan Lovells on

The Hogan Lovells’ Corporate Insurance Newsletter for September has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. ...more

Hogan Lovells

Corporate Insurance Newsletter – August 2018

Hogan Lovells on

The Hogan Lovells’ Corporate Insurance Newsletter for August has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. ...more

A&O Shearman

UK Regulators Finalize Rule Changes For Extending Individual Accountability Regime to Insurers

A&O Shearman on

The U.K. Financial Conduct Authority and Prudential Regulation Authority have published Policy Statements confirming the near-final and final rule changes they will apply to extend the application of the Senior Managers &...more

A&O Shearman

UK Regulators Confirm Approach to Authorization and Supervision of International Banks, Investment Firms, Insurers and CCPs Under...

A&O Shearman on

Following the announcement on March 19, 2018 that a transitional period for Brexit had been agreed between the U.K. and the EU, the U.K. regulators have published statements setting out their expectations regarding firms'...more

Hogan Lovells

Corporate Insurance Newsletter – December 2017

Hogan Lovells on

The Hogan Lovells’ Corporate Insurance Newsletter for December has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. ...more

A&O Shearman

Key Regulatory Topics: Weekly Update - 10 November 2017 – 16 November 2017

A&O Shearman on

BREXIT - UK Finance proposes model for post-Brexit financial services under EU-UK trade agreement - On 16 November, UK Finance published a report entitled "Supporting Europe's economies and citizens: a modern approach...more

Hogan Lovells

Corporate Insurance Newsletter – October 2017

Hogan Lovells on

The Hogan Lovells’ Corporate Insurance Newsletter for October has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. In this...more

Seyfarth Shaw LLP

Financial Services - Preparing Your Global Workforce for the New UK Whistleblowing Regime

Seyfarth Shaw LLP on

New rules on whistleblowing have come into effect which impact certain Financial Conduct Authority (FCA) and Prudential Regulatory Authority (PRA) regulated financial services firms. The aim of these rules is to promote a...more

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