Following its consultation earlier this year (CP7/25), the Prudential Regulation Authority (PRA) has published a Policy Statement (PS17/25) on the Matching Adjustment Investment Accelerator (MAIA).
This initiative seeks to enable UK insurers to capitalise more quickly on investment opportunities by removing the requirement for prior approval from
Funded reinsurance arrangements (FundedRe) in the UK life insurance sector remain a clear supervisory priority for the Prudential Regulation Authority (PRA) following the publication of its supervisory statement SS5/24 in July 2024.
On 18 September 2025, the PRA published a speech by Vicky White, the Director for Prudential Policy at the
Following revisions to its third country branch policies as part of the Solvency UK reforms, on 16 September 2025, the PRA published CP20/25 proposing further reforms which seek to address identified inconsistencies, further streamline the policy framework, clarify expectations and enhance regulatory transparency. Responses close on 16 December 2025 and the majority of the proposals
The Court of Appeal’s recent decision in Lonham Group Limited v Scotbeef Limited & D&S Storage Limited (in liquidation) [2025] EWCA Civ 203 (Lonham v Scotbeef) provides useful guidance on the proper categorisation of representations and warranties under the Insurance Act 2015. The decision also highlights the potentially significant difference in the remedies available for
On 14 May 2025, the Financial Conduct Authority (FCA) published a new consultation paper (CP25/12) setting out its proposals to simplify the sections of the FCA’s Handbook which apply to insurance firms.
The consultation paper comments on the feedback it received in relation to its previous discussion paper on the Regulation of Commercial
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
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
Solvency II: Upcoming PRA consultation on amendments to the matching adjustment
Last week, Gareth Truran of the Bank of England gave a speech on behalf of the Prudential Regulation Authority (PRA) outlining recent updates in respect of the reforms to Solvency II (so-called “Solvency UK”). The speech provides a high-level overview of the coming proposals
On 29 June 2023, the Prudential Regulation Authority (PRA) published consultation paper (CP12/23). CP12/23 is the latest in a number of consultation papers issued by HM Treasury (HMT), the Bank of England (BoE) and the PRA as part of proposals to reform Solvency II. The government’s stated intention of these reforms is to
The Financial Services and Markets Act (the Act) received Royal Assent on 29 June 2023. Although certain key provisions (for example the rules relating to critical third parties) came into force on the same date, the Government is taking a phased approach and other provisions will be brought into force on days to be appointed