Reinsurance News
Prudential Regulation Authority
UK Government moves to enable protected cell companies for captive insurance
30th April 2026
HM Treasury, the UK government’s department responsible for economic and financial policy, has outlined plans to advance legislation that would allow protected cell companies (PCCs) to be used within the UK’s captive insurance framework. The proposals form part of a wider consultation considering how PCC structures could be expanded beyond their ... Read the full article
PRA consults on funded reinsurance capital reform for UK insurers
29th April 2026
The Bank of England, through its Prudential Regulation Authority (PRA), has issued a consultation on changes to how funded reinsurance is treated under UK insurance capital rules. The consultation proposes bringing funded reinsurance more closely in line with the capital treatment applied to other types of investments held by UK life ... Read the full article
UK insurers face continued market pressures as PRA outlines 2026 priorities
15th January 2026
In its 2026 supervisory priorities, the Prudential Regulation Authority (PRA) has noted that UK insurers face an uncertain environment, with elevated geopolitical tensions and sovereign debt pressures, highlighting the need to assess impacts on business models and ensure robust risk management, governance, and controls, including for downside scenarios. The PRA’s 2026 ... Read the full article
AM Specialty Insurance Company obtains UK regulatory authorisation
8th December 2025
AM Specialty Insurance Company (UK) (ASIC UK) has now been authorised by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) to conduct regulated insurance activities in the UK, becoming the first insurer to be authorised under the authorities' accelerated authorisation pathway, this publication can reveal. The approval enables ... Read the full article
PRA’s LIST 2025 reinforces Fitch’s view that the UK life sector is well capitalised
3rd December 2025
Fitch Ratings said the UK Prudential Regulation Authority’s (PRA) 2025 Life Insurance Stress Test (LIST 2025) reinforces its view that the sector is well capitalised, but warns that real-world stress scenarios could lead to a different outcome due to higher market interconnectedness than the exercise assumes and associated spillover effects. Published ... Read the full article
Aon warns against drawing quick conclusions from PRA’s LIST 2025: Lizzie Hawkins
24th November 2025
The insurer-specific results of the PRA Life Insurance Stress Test (LIST 2025) demonstrate a good degree of financial resilience across in-scope insurers, however, Lizzie Hawkins, insurer due diligence specialist in the Aon Risk Settlement Group, warns against drawing quick conclusions from the results. Published on 17 November 2025, PRA’s LIST ... Read the full article
UK life insurers ‘resilient’ to severe financial markets stress: PRA’s LIST 2025
18th November 2025
Major UK life insurers, particularly the eleven largest firms active in the bulk purchase annuity (BPA) market, are resilient to a severe but plausible financial markets stress scenario, according to the recently published Prudential Regulation Authority (PRA) 2025 Life Insurance Stress Test (LIST 2025). Conducted for the third time, this exercise ... Read the full article
Funded reinsurance and offshore financing a concern for the PRA
18th September 2025
The Bank of England (BoE) is hardening its approach on the use of funded reinsurance and offshore financing by UK life insurers, aiming to balance innovation with financial stability as the bulk purchase annuity (BPA) market continues its rapid expansion. In a speech at the Bank of America annual CEO conference, ... Read the full article
Barents Reinsurance settles with PRA over £1.8m post-Brexit compliance fine
28th July 2025
Barents Reinsurance S.A. (Barents) has acknowledged the Final Notice issued by the Prudential Regulation Authority (PRA) regarding breaches related to post-Brexit compliance in its London Branch (now in supervised run-off) between July 2021 and October 2023. The PRA fined Barents a reduced amount of £1,785,000 due to certain governance and reporting ... Read the full article
Approval reforms for UK Insurance Special Purpose Vehicles to support growth: PRA
24th July 2025
The Prudential Regulation Authority (PRA) has published Policy Statement (PS) 9/25, setting out its final policy and feedback to CP15/24 on proposed reforms to the UK Insurance Special Purpose Vehicle (UK ISPV) regulatory framework, marking a key step in its ongoing reform efforts. According to the PRA, the PS intends to ... Read the full article
Faster approvals ahead for Lloyd’s managing agents under new regulatory agreement
7th July 2025
The regulatory approval process for Lloyd’s managing agents is being streamlined to reduce authorisation times, following an agreement between the Prudential Regulation Authority (PRA), the Financial Conduct Authority (FCA), and the Society of Lloyd’s. Under the changes, the PRA and FCA will reportedly retain their statutory decision-making roles but will make ... Read the full article
BoE updated supervisory expectations to strengthen climate risk management for insurers
6th May 2025
As economic and insurance exposures in high-risk regions are likely to increase with climate change, impacting banks’ and insurers’ ability to support clients, the Bank of England has updated its supervisory expectations to help guide these firms in managing climate-related financial risks. In recent years, the world has faced a number ... Read the full article
PRA consultation aims to help insurers accelerate investment in UK
8th April 2025
The Prudential Regulatory Authority (PRA) has launched a consultation to help insurers accelerate investment in the United Kingdom. In its consultation paper the PRA proposes rules to reform the Matching Adjustment (MA) application process by introducing a new Matching Adjustment Investment Accelerator (MAIA) permission. The proposals for a MAIA look to reduce ... Read the full article
Fortegra announces launch of new UK subsidiary
4th December 2024
The Prudential Regulation Authority (PRA) has granted Fortegra, a global specialty insurer and subsidiary of Tiptree, approval to establish Fortegra Insurance Company UK, its new subsidiary in the United Kingdom. Fortegra has established a strong reputation in the Managing General Agents (MGAs) and Managing General Underwriters (MGUs) market. This success is ... Read the full article
Key actions for insurers ahead of new PRA Solvent Exit Planning requirements: Broadstone
25th October 2024
Broadstone, an independent financial services consultancy, has outlined four essential steps for insurers preparing for the Prudential Regulation Authority (PRA)’s new guidelines on Solvent Exit Planning. On January 23, 2024, the PRA released a consultation (CP2/24) setting out its updated expectations for insurers’ solvent exit planning. This guidance is designed to improve ... Read the full article
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