In 2015 the Prudential Regulation Authority (PRA) conducted a General Insurance Stress Test exercise for all Category 1 and 2 UK regulated general insurers. 63% of the general insurance market (by premium) participated, covering 26 insurance groups across 39 legal entities.
The PRA has published a Solvency II Insurance Directors’ update letter for all Solvency II affected firms. With the implementation of Solvency less than two months away, reviewing applications for Solvency II approvals is the PRA’s main priority.
In August 2015, the PRA published consultation paper CP25/15 on reporting and public disclosure. The consultation paper seeks feedback on the PRA’s expectations of firms.