Prudential Regulation Authority
14 whitepapers and resources
Prudential Regulation Authority
Could regulators stymie the growth of the fronter market in the UK?
Brokers and managing general agents are desperate for capacity, especially for more volatile commercial risks and to cover parts of the personal lines market. This article focuses on the fronter market in the UK and the regulatory landscape.
Regulation, regulation, regulation: Change is coming in the UK
In December, the UK’s PRA set out its priorities for the insurance sector in 2021, whilst the FCA continues to focus on ensuring equitable pricing and treating customers fairly. This blog highlights regulations on the horizon and why nimbler insurers will navigate 2021’s uncertainties more easily.
Operational resilience in insurance: The UK’s changing regulatory landscape
With a regulatory shakeup on the agenda for insurance firms, this content focuses on the regulatory objectives of the FCA and the PRA, before highlighting the steps insurers can take to effectively structure a resilience programme to align with the regulatory requirements.
Model risk management for insurance
As technology advances, the ability to analyse vast amounts of data is driving up the requirement within the insurance industry for well governed risk management models. This content highlights the implications for insurance providers and why a robust approach to model risk management is required.
Raising the bar: Operational resilience and shadow IT
Regulators are turning their attention to building the operational resilience of the UK financial system. This whitepaper looks at the likely implications of any future operational resilience regulation on the way an institution manages non-IT supported applications and processes.
The importance of data lineage in the insurance industry
Data lineage plays a big part in helping insurers quickly gather the information they need to rapidly respond when the PRA or FCA come calling. This one page blog briefly outlines why data lineage is a vital component of any effective data architecture and its relevance to insurers.
Solvency II: Data collection of market risk sensitivities – CP7/17
Relevant to Solvency II insurance and reinsurance firms holding, or intending to hold, material quantities of assets exposed to market risk, this consultation paper sets out the PRA’s proposed expectations for the reporting of sensitivities of solvency positions to key market risks.
Financial Services Compensation Scheme – Management Expenses Levy Limit 2017/18 – PS6/17
This policy statement provides feedback to responses to the PRA Consultation Paper 1/17 ’Financial Services Compensation Scheme – Management Expenses Levy Limit 2017/18’ (the CP) and final rules for the Financial Services Compensation Scheme (FSCS) Management Expenses Levy Limit (MELL) for 2017/18.
PRA fees and FSCS levies for insurers: Proposals for a transitional approach in 2017/18
In this consultation paper, the Prudential Regulation Authority sets out proposals for a one year transitional arrangement for insurance firms’ PRA fees and Financial Services Compensation Scheme (FSCS) levies for the 2017/18 fees year.
Reporting requirements for non-Solvency II insurance firms
This PRA Policy Statement provides feedback to responses to Consultation Paper 18/16 ‘Reporting requirements for non-Solvency II insurance firms’. It sets out final rules for the new reporting requirements that apply to insurance firms that are outside the scope of Solvency II.