Insurance supervision at the PRA
Speaking at London Business School, Sam Woods explores the Prudential Regulation Authority’s (PRA) role in maintaining “a resilient insurance sector which does not pass risks back to policyholders when they crystallise”.
Following the implementation of Solvency II, the Deputy Governor’s speech coincides with the publication of the Independent Evaluation Office’s (IEO) report on the PRA’s approach to its policyholder protection objective, alongside the PRA’s response.
Sam Woods, the deputy governor for Prudential Regulation’s speech concluded that “now is the ideal time to refresh our approach to insurance supervision”.
The FCA has issued the first of a series of consultation publications which form part of its mission.
Measures to change the way compensation payouts are calculated have been unveiled by Lord Chancellor David Lidington.
The UK’s Prudential Regulation Authority has published a package of final rules, guidance and proposals on accountability