current issues in insurance
Solvency II newsflash - PRA told to pull a EU turn
20 Dec 2017
October and early November saw the Prudential Regulation Authority (PRA) hit with something of a double-whammy. First it received a significant amount of implied criticism from the Treasury Committee – and was presented with a pre-Christmas shopping list of aspects of the regulatory regime that MPs believe should be changed. This was swiftly followed up by the European Insurance and Occupational Pensions Authority (EIOPA) consulting on a proposal which included a recommendation of no change to the calibration of the Risk Margin – one of the key areas identified by MPs. This article looks at where this leaves the PRA.
In this newsflash we look at:
The recommendations coming out of the Treasury Committee’s investigation into insurance regulation;
EIOPA’s recommendation of no change to the calibration of the Risk Margin; and
Where this leaves the PRA.
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