Financial Conduct Authority (FCA)
Clear rebrands MGA arm; Sapiens acquires AdvantageGo; Markel’s head of tech
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Insurers cover APR cuts by increasing instalment costs
Consumer Intelligence has uncovered evidence that insurers are reducing their advertised annual percentage rate for premium finance without reducing the actual cost of paying for home and motor insurance in instalments.
Rathi reappointed FCA CEO
Chancellor Rachel Reeves has reappointed Nikhil Rathi as CEO of the Financial Conduct Authority for a second term.
How Brexit has affected the UK insurance market
Five years on from the UK exiting the European Union, David Worsfold examines if the insurance industry benefitted or received a blow from Brexit.
FCA prioritises innovation and fighting crime in latest strategy
The Financial Conduct Authority has this morning (8 April) set out its latest work program for the 2025/26 period.
FCA premium finance crackdown saves consumers £100m
Since the the Financial Conduct Authority’s head of insurance Matt Brewis labelled premium finance a “poor product”, car and home insurance customers have saved more than £100m in the last year after insurers reduced how much they charge policyholders…
London Market arranges training to stamp out misconduct
Following the publication of the Financial Conduct Authority’s report on non-financial misconduct in the wholesale specialty insurance market, the Lloyd’s Market Association, International Underwriting Association, and London and International Insurance…
FCA unveils new strategy to ‘support growth’
The Financial Conduct Authority has launched a new five-year strategy that the regulator’s chiefs claimed will “deepen trust, rebalance risk, support growth and improve lives”.
Labour demands regulators cut red tape
Chancellor Rachel Reeves met with “top regulator bosses” in Downing Street today (17 March) to demand they cut the administrative cost of regulation on business by a quarter.
FCA spots 30 misleading insurance adverts
Just 30 general insurance and protection adverts were amended or pulled in 2024, following intervention from the Financial Conduct Authority.
FCA scraps name and shame proposals
The Financial Conduct Authority has scrapped plans to name and shame firms it is investigating and revealed it has “no plans” to progress its diversity and inclusion proposals.
FSCS hires Martyn Beauchamp as CEO
The Prudential Regulation Authority and Financial Conduct Authority have appointed Martyn Beauchamp as CEO of the Financial Services Compensation Scheme.
QBE’s Fresneau tackles the underwritten bias
The sector’s gender imbalance doesn’t need women to push harder, it requires a mindset shift and structural change for all, says Cécile Fresneau, managing director of QBE Europe’s insurance division.
Broker banned for fraud that led to client’s collapse
The Financial Conduct Authority has banned David Robert Cooke, the former director of Weston-super-Mare broker Professional Construction Risks Limited, from working in financial services.
FCA CEO promises fewer large-scale changes for insurers
Nikhil Rathi, CEO of the Financial Conduct Authority, has promised to reduce unnecessary regulatory burdens and support growth of the insurance sector, with less large-scale rule changes in the next five years.
What if Elon Musk ran FCA authorisations?
Trade Voice: Graeme Trudgill, CEO of the British Insurance Brokers’ Association, argues the regulator’s clock-stopping authorisations process is a drag on the sector and should be far slicker.
How to get ahead of the FCA’s premium finance probe
To make sure you don’t incur the regulator’s wrath as it examines premium finance, Claire Van der Zant, chief growth officer at Shieldpay, recommends you scrap the spreadsheets.
MPs demand answers surrounding FOS CEO’s exit
The Treasury select committee has written to both the Financial Conduct Authority and Financial Ombudsman Service about the circumstances which surrounded the departure of CEO and chief ombudsman, Abby Thomas, last week.
Insurance ramifications of FCA personal guarantees investigation
Todd Davison, managing director of personal guarantee insurance specialist Purbeck, explains the regulator's recommendation that lenders spell out what signing a personal guarantee means so small business owners can grasp the risk they accept in return…
What to expect from the regulator in 2025
In the first Insurance Post Podcast of 2025, regulatory experts reveal whether the Financial Conduct Authority will become a pricing regulator and slim down the rule book in the year ahead.
Insurance regulation: Who watches the watchdogs?
As HM Treasury looks to the financial watchdogs to help boost the general insurance sector’s competitiveness, Marcel Le Gouais observes oversight of the FCA and PRA is starting to look very different.