PRA to reduce oversight of Lloyd’s managing agents

Lloyd's of London

The Prudential Regulatory Authority has said that Lloyd’s managing agents will face a “lower level of supervisory interaction”, as the regulator moves to deliver on its competitiveness and growth objective.

The secondary objective was included in last year’s Financial Services and Markets Act and requires the regulator to discharge its functions in a way that aids the international competitiveness and

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Hiscox hits 2024 UK growth target

The growth of Hiscox’s UK retail business gathered momentum over the course of 2024, finishing the year just within the insurer’s 5% to 15% target range, according to its results announcement.

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