PRA
-
The reduced fine reflected the PRA view that the breaches weren’t deliberate. -
The strategy is a 10-year plan to drive growth in UK financial services.
-
The government is consulting on reforms to the existing regulations.
-
The PRA, FCA and Society of Lloyd’s have agreed to the changes.
-
The proposals consist of supervisory expectations rather than rules.
-
By March, firms must be able to show they can remain within impact tolerances.
-
The workshops will provide feedback on the logistics of producing and running a set of stylised adverse events.
-
Two-thirds of insurance firms have been challenged about their resilience plans by the regulator.
-
MGAs are looking hard at capacity arrangements for fear of regulatory action.
-
The IUA argued the change would change the mutualisation of risk in the market.
-
The changes lift the threshold for companies reporting in the Solvency UK regime to £25mn.
-
The consultation will close on 26 April, with the PRA expecting to implement changes in Q4 2025.
Most Recent
-
Hull portfolios risk ‘returning to the red’: Gallagher
05 August 2025 -
Lloyd’s appoints Hiscox’s Flaquet as COO
05 August 2025 -
Berkley Re UK CEO Himmer to retire at year end
05 August 2025 -
Daily Digest: Top news from 5 August
05 August 2025