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Lloyd’s new chief of markets today unveiled an even tougher approach to syndicates with consistently poor results. -
The information-gathering exercise for large insurers and banks won’t dictate capital requirements.
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The new accounting framework is being brought in to replace current GAAP reporting measures.
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An international competitiveness duty for regulators and measures to promote the UK as a captives centre are among the trade body’s demands.
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The central bank governor said such a move would require ‘robust data.
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Proposals for a secondee system using a UK branch look unwieldy.
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Insurers must put in place the majority of measures by 1 January 2022.
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In a statement on Thursday, Scor said it “acknowledges and welcomes” the findings from the French authority, calling the original allegations “a groundless move”.
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The government had considered extending the backstop, depending on the economic outlook.
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A regional members’ body calls for an independent review, with complaints including the organisation’s handling of exams.
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CEO Sheila Cameron says the association plans to have a board where 30% of members are female and/or from an ethnic minority by the end of 2023.
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The insurance directorate co-head said removing barriers for small start-ups was one focal point for the regulator.
