The Prudential Regulation Authority (PRA) has launched the 2022 Insurance Stress Test (IST). The IST is run every two years and seeks information from the largest life and general insurance companies in the UK.
In a ‘Dear CEO’ letter sent to the participating firms, the PRA sets out its objectives for the IST and provides the instructions and templates for firms to follow to complete the test.
The 2022 IST is one of the PRA’s key priorities for 2022 as it helps to guide supervisory activity, assess sector resilience and enhance the ability to respond to future market shocks.
The deadline for submission is 28 September 2022.