Prudential Regulation Authority (PRA)
Motor insurance regulator mooted by Straw slammed as ‘unnecessary’
Former Home Secretary’s parliamentary counterpart Evans ‘dead against’ idea.
Editor's comment: Motor: A third way?
Motor has long been a special case in the world of insurance. It is a compulsory purchase that most customers hope to never use.
London market must meet challenges to retain top position says IUA
Four key issues must be tackled for London to maintain its position as a pre-eminent centre for international insurance risks, the International Underwriting Association has warned.
Three insurance industry reps nominated to PRA panel
Three insurance industry members have been have been nominated to the Prudential Regulation Authority’s practitioner panel established to represent the interests of the financial services industry.
Millburn unable to pay claims after entering administration
Millburn Insurance Company has become the first UK regulated insurance firm to enter administration since 2009, three months after it stopped writing new business following a review by the Prudential Regulation Authority.
Bid to cut red tape set to enhance UK insurance market’s competitive position
Insurance Growth Action Plan aims to remove barriers for UK insurers overseas.
Lloyd’s: A period of adjustment
In a challenging year for the market, how is Lloyd’s responding to regulatory changes, international competition and the potential threat posed by passive underwriting structures?
Separate conduct regulator proposed in Scottish independence paper
Scotland would set up its own financial conduct regulator if it becomes independent from the UK, according to the Scottish government’s white paper on independence released today.
ABI supports PRA Solvency II consultation
The Association of British Insurers has welcomed the Prudential Regulation Authority’s public consultation on its approach to implementing EIOPA’s guidelines for the preparation of Solvency II.
FCA coy over telling firms to boost female headcount in the boardroom
Regulator ‘not looking specifically’ at issue but confusion surrounds CRD IV.
Ferma 2013: 'Twin peaks' regulation questioned by ex-EC Solvency II head
The former head of Solvency II at the European Commission has called into question the creation of the UK’s ‘twin peaks’ regulatory system for matters relating to the insurance industry.
Ferma 2013: Former EC Solvency II head questions 'twin peaks' regulator
The former head of Solvency II at the European Commission has called into question the creation of the UK’s ‘twin peaks’ regulatory system for matters relating to insurance.
Lloyd's: The burden of regulation
Facing increasing scrutiny from the UK and Europe, Lloyd’s could be in danger of becoming less competitive. By Katie Marriner
Solvent GI firms warned about PRA stance on schemes
Professional services giant KPMG has raised concerns that a draft supervisory statement issued by the Prudential Regulatory Authority suggests that the PRA no longer considers schemes an appropriate tool for solvent insurers.
Lloyd’s renews deal with FCA to avoid regulatory duplication
Lloyd’s of London has renewed an agreement originally signed with the Financial Services Authority in a bid to avoid duplicating regulation.
Prettejohn to leave Brit
Brit Insurance’s non-executive director Nicholas Prettejohn will retire from the company’s board at the end of June, following his appointment as non-executive director of the Prudential Regulation Authority.
News Review: 13 June 2013
News Review
L&G blocked on CFO appointment
Legal and General have been barred from appointing their choice of chief financial officer, according to reports.
Brit chairman Prettejohn joins PRA board
Brit Insurance chairman and former Lloyd’s chief executive Nick Prettejohn is joining the board of the Prudential Regulation Authority following approval by the Chancellor of the Exchequer.
Regulatory uncertainty raises domicile questions
Splitting tax domiciles and regulators could be an enticing prospect for insurance groups looking to avoid the European Union’s Solvency II regulations.
Telematics Expo: ABI pre-empts telematics regulation with new guide
Trade bodies can play an important role in the development of the telematics industry, particularly in warding off the threat of regulation, according to Association of British Insurers policy adviser Ben Gaukrodger.
Solvency II “ground to a halt” by national interest PRA boss says
Disagreement over the final Solvency II rules at a national level has seen negotiations “ground to a halt” according to Prudential Regulatory Authority boss Andrew Bailey.
Regulation: A heavy crown
The downfall of the Financial Services Authority was met with resounding support. However, as its successors take over sceptics ask whether the twin peak model might create more discontent in the industry.
Solvency II: worth the wait?
After many delays, Solvency II implementation is still far from certain. While some insurers have grown disillusioned by the process, others remain keen to see the directive’s benefits come to fruition.