Prudential Regulation Authority (PRA)
Aegis London appoints new CFO and compliance director
Aegis London has appointed Hermien Smeets-Flier as chief financial officer and Graeme Tennyson as director of risk and compliance.
QBE's Richard Pryce on why the insurance industry must seek certainty on Brexit
We all planned for it but it’s fair to say that few among us believed we would actually have to execute our Brexit contingency strategies.
Where are all the full-stack insurance start-ups?
Capital requirements and regulations have been blamed for putting off new full-stack insurers from establishing in the UK but Brexit won't necessarily help start-ups.
French regulator to 'speed up' licensing for UK firms following Brexit vote
The French stock market watchdog will simplify licencing procedures for UK businesses considering relocating to France following the Brexit vote.
Market reacts to PRA consultation papers on Solvency II
The Prudential Regulation Authority has released a consultation paper with a draft supervisory statement on its expectations of insurers in significant loss events.
Nelson: Brexit is an opportunity to offload ‘burdensome’ regulation
Lloyd’s chairman John Nelson has called for the UK to abandon “overly burdensome” regulation following Brexit.
Challenging market is ‘no excuse’ for poor performance, report finds
Challenging market conditions are no excuse for poor insurer performance, according to a report by Willis Towers Watson.
NEDs: With great power comes great responsibility
There was a time, or so the old insurance hands say, when being a non-executive director was something of a cushy number: The sum total expected of a NED was to turn up for 12 board meetings a year, read the odd report, and play a few rounds of golf with…
MPs call for a breakup of the FCA
A review on the possible breakup of the Financial Conduct Authority has been called for by senior MPs and the Treasury Select Committee due to ‘severe flaws’ in its past operations.
PRA warns non-life insurers over reserve releases
Financial reserves released by general insurers in 2015 were the highest in 30 years, regulators have warned.
Interview: Mark Weil, Marsh
Mark Weil, Marsh UK and Ireland CEO, talks to Stephanie Denton about his busy tenure, integrating acquisitions and what comes next
Blog: Don't rest on your SIMR laurels
After the flurry of activity ahead of the various Senior Insurance Managers Regime deadlines, some firms might have concluded that implementation is complete and it is now possible to relax into business-as-usual mode. However, major ongoing and future…
Revealed: FCA and PRA unprepared for a Brexit
The industry’s two main regulators have not carried out any formal review of the potential impact of a Brexit, an investigation by Post can reveal.
Europe: Insurers need to prepare for the Audit Directive
Time is running out before implementation of the European Union Audit Directive and Regulation on 17 June
Insurers ‘most at risk from credit shocks’
Insurers could lose up to 17% of their own funds if there was a credit shock, according to results of a wide-ranging stress test of the market.
Parliament and Treasury Committee’s power ‘greatly strengthened’ in hiring process of FCA CEO
The House of Commons’ and the Treasury Committee’s influence on the appointment and dismissal of the FCA’s CEO has been heightened, according to the latter’s chair, Andrew Tyrie.
Regulators publish proposals to improve enforcement decision-making processes
The Financial Conduct Authority and Prudential Regulation Authority have today published proposals aimed at improving the transparency and effectiveness of the FCA's and PRA's enforcement decision-making processes.
McDermott to leave FCA in July
Acting Financial Conduct Authority CEO Tracey McDermott is to leave the organisation on 1 July, the regulator has confirmed.
PRA appoints insurance director Sam Woods as CEO
The Prudential Regulation Authority's insurance executive director Sam Woods has been promoted to replace Andrew Bailey as PRA CEO.
Flood Re gets PRA and FCA authorisation
Regulators have confirmed Flood Re will be authorised from tomorrow ahead of the scheme’s 4 April start date.
Editor's comment: The bad apple?
Regulation is a good thing … except where it is bad thing.
Concern expressed as 'rigorous' SIMR adds pressure on senior roles
Insurers have welcomed the launch of the Senior Insurance Managers Regime, however, there remains uncertainty as to what extent top ranking employees will be impacted.
RSA's Innes to chair ABI prudential regulation forum
The Association of British Insurers has launched an industry forum on prudential regulation with RSA group capital and financial risks director David Innes appointed as chair.