Regulation
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The association will also work on cyber risks, cladding and reducing regulation this year.
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Chris Croft and Caroline Wagstaff will help to assess the UK sector’s competitiveness.
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The London Market Group’s CEO Caroline Wagstaff has set out how the approach of regulators needs to evolve, amid regulatory reforms.
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The Axa XL executive said a parliament inquiry into London market regulation provides a platform to raise issues around the absence of UK captives and domestic reinsurers.
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Data obtained from PRA and FCA shows fewer Skilled Persons Reviews in recent years – but the tool remains a valuable one for regulators.
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The Lords Industry and Regulators Committee probe follows the group’s calls for legislative changes.
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The House of Lords Industry and Regulators Committee will explore whether regulatory policy is well-designed and proportionate for (re)insurers.
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The regulator said it does not seek to either “incentivise or disincentivise” legacy transfers.
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Jonathan Clark takes up the role with immediate effect, replacing Sian Fisher, who is leaving after six years.
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In a Dear CEO letter from Charlotte Gerken and Anna Sweeney, the regulator has set out expectations on climate change, systemic risks, and a stress test for later this year.
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The ratings agency said that long-tail classes could be hit by reserve deficiencies.
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The European authority’s stress test on 43 carriers found that a section of the market still relies heavily on transitional measures.
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