InSure — April 2014: regulatory developments
PRA publishes supervisory statements for insurers
The PRA has published several supervisory statements concerning insurers, namely:
- (SS3/14) on its approach to schemes of arrangement proposed by insurers under Part 26 of the Companies Act 2006
- (SS4/14) providing additional clarification of its expectations of general insurers in relation to prudential provisions within the PRA handbook
- (SS5/14) on the calculation of technical provisions and the use of internal models for general insurers under the Solvency II Directive (2009/138/EC)
- (SS2/14) on the recognition of deferred tax under the Solvency II Directive regime
PRA, April 2014
FCA thematic review on household and travel insurance claims handling
The Financial Conduct Authority (FCA) has published the initial findings of its thematic review on household and travel insurance claims handling. The thematic review was designed to assess the extent to which insurers put consumer claims at the heart of their businesses. Martin Wheatley, the chief executive of the FCA, launched the review in a speech to the British Insurance Brokers’ Association conference in May last year…
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Briefings from Addleshaw Goddard
InCredit – FCA structural changes; speech by CEO of Competition & Markets Authority; PRA update on implementing BRRD; and more
Addleshaw Goddard’s weekly publication provides information on current retail finance issues, regulatory and legislative developments, market watch and ASA adjudications.
InVest: FCA publishes thematic review of wealth management firms and private banks; Council of the EU considers regulation on securities financing transactions; and more
Addleshaw Goddard has published this month’s round-up of developments affecting banks, wealth managers, brokers and funds.
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