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New data on the FCA's operational performance shows improvements in some aspects, though response rates are still slow on senior appointment casework. -
The agency said it will take rating actions where warranted.
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The letter also called out California insurance companies for investing more than $536bn in the fossil-fuel industry in 2019 alone.
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Graeme Trudgill was acting as executive director and has been a member of Biba’s main board for 10 years.
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The Association of British Insurers has also appointed Clare Bousfield, CEO of retail and savings at M&G, as deputy president.
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The landmark legislation is designed to make regulation of the City more globally competitive.
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The new reforms will mean the PRA cutting red tape for insurers to foster competition while maintaining Solvency II standards.
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The Financial Services and Markets bill is expected to gain royal assent next week after months of consultation.
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The UK government is aiming to introduce its changes to the Solvency II regime as soon as practicable.
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The regulator said there is a risk some carriers may have released reserves too early.
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The exercise, which will include insurers, will provide insight into shocks to the UK financial system.
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The investigation enquires into how the US insurance industry evaluates, invests in or underwrites fossil fuel expansion projects.
