Solvency II is organised around three core pillars of prudential regulation, which ensure the safety and soundness of (re)insurers, in line with the scale, nature and complexity of their business: - Pillar One focuses on...more
In recent years, demographic changes and macroeconomic factors have led to significant growth in insurance markets. Within insurance markets, a much more active market in trading “back-books” of insurance liabilities has...more
The FCA and PRA announced changes to enforcement process with the aim of strengthening the transparency and effectiveness of enforcement decision-making processes. Some of the changes have already come into force, the rest...more
Between 1 April 2013 and 15 February 2016, the PRA published a series of Solvency II Directors’ letters, Executive Directors’ letters, and Feedback Statements, so that everyone knew what its expectations were, as it developed...more
Chris Moulder, the PRA’s Director of General Insurance, delivered a speech to the Worshipful Company of Insurers’ iNED Forum yesterday. Here are the headlines: - The PRA has approved 19 internal models so far. Internal...more