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The UK Endorsement Board was set up to endorse international accounting rules after Brexit.
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The carrier said its $110mn net claims burden will be unaffected.
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Trade body Insurance Europe has warned the Prudential Regulation Authority (PRA) that the temporary regime enabling EU reinsurers to trade in the UK will close before they know which of the Solvency II reforms will be taken forward.
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The Competition and Markets Authority will investigate whether the deal lessens competition in the UK. -
The FCA’s CEO Nikhil Rathi said the regulator could disclose information on listed firms that miss diversity targets for the make-up of their boards.
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Amid three regulatory consultations for the legacy market and the threat of s166 reviews for certain Part VII transfers, the legacy market is reaching a turning point.
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Discussions with industry and in-country partners have so far foregrounded parametric solutions.
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PRA director Gareth Truran has outlined the dangers of cutting capital requirements for certain assets for insurers, in a speech on specific Solvency II reforms.
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The European Commission wants to incentivise the insurance sector to invest in the post-pandemic recovery.
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An investigation by Germany’s financial watchdog BaFin is looking across multiple departments of Allianz’s business, according to Reuters.
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The regulator said many firms will not be ready to meet the 1 October deadline for new product governance rules.
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The questionnaire follows a market impact study, as the PRA said there are areas where it needs further insights to inform Solvency II reforms.
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