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The Prime Minister believes the PRA is being too cautious in bringing in new rules.
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The redomicile is part of a diversification strategy to broaden the carrier’s focus from Continental Europe to Lloyd’s and North America.
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With Anna Sweeney due to leave, the PRA is now looking to fill one of its most influential roles for insurance supervision.
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As the Treasury falls under pressure to ramp up oversight of the FCA and PRA, Insurance Insider explores what this should mean in practice.
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More than 60% of respondents to an ESMA survey believe the level of methodological transparency is still unsatisfactory.
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Under the scheme, insurance services would only be available if the price ceiling was observed by the importer.
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Firms in the EEA must gain approval to do business in the UK before the end of 2023.
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A new sub-committee of MPs and a financial services unit will scrutinise how the FCA and PRA adopt new post-Brexit powers.
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SVP and regional head of insurance in Asia Ben Carey will lead the operation.
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The penalty relates to activities in Colombia.
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The newspaper reported that the US is urging European capitals to ease the ban in a bid to tame inflation.
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Insurers have expressed concerns about hitting the 2023 deadline for the regime.