On 21 March 2025, the Financial Conduct Authority (FCA) announced a comprehensive market study into the distribution of pure protection products to individual retail customers (MS24/1.2). This initiative aims to ensure that the market functions effectively and that consumers receive fair value and good outcomes from these products. The study puts commission arrangements
Solvency UK: Reform of the matching adjustment
Background
The Prudential Regulation Authority’s (PRA) published its Policy Statement “Review of Solvency II: Reform of the Matching Adjustment” (PS10/24) and the associated finalised rules and guidance[1] on 6 June 2024. This followed the publication of the PRA’s consultation paper in September 2023 and the enactment of The Insurance and
PRA consults on funded reinsurance for life firms
On November 16, 2023, the Prudential Regulation Authority (PRA) published consultation paper CP24/23: Funded reinsurance, setting out its proposed expectations in respect of life firms entering into or holding funded reinsurance arrangements as cedants.
The PRA recognises that such reinsurance arrangements are an important part of risk management. However, the PRA sets out its