Quarterly insights for the UK Insurance & financial services market
Current issues in insurance & financial services – Summer 2021
03 Aug 2021
In this edition of Current issues in insurance & financial services, we bring you the latest insights into the UK insurance & financial services market including:
- What to consider when assessing climate risk in your portfolios;
- A summary of the FCA's Consultation on Consumer Duty;
- The PRA publishing the Quantitative Impact Study (‘QIS’);
- Key takeaways from our first 'Understanding Longevity' podcast;
- How to encourage more individuals towards improving financial security.
Emissions metrics may not be capturing your climate risks
Many asset owners are familiar with climate risk metrics such as carbon footprint or WACI. While these are important, they do not take the bigger picture into account. In this article, we explore other areas you should be considering when assessing climate risk in your portfolios.
FCA's consultation on Consumer Duty
Many financial service firms will be considering the implications of the recent Financial Conduct Authority’s (FCA) consultation regarding their proposed Consumer Duty. In this article, we summarise the detail and consider what next steps might be.
PRA publishes its Quantitative Impact Study
On 20 July the PRA published the Quantitative Impact Study (‘QIS’) which is expected to be a key stage in the much-anticipated post-Brexit review of Solvency II. Read our newsflash for more on the QIS, which focuses on the Risk Margin, Matching Adjustment and likely next steps.
Understanding Longevity: Why does life expectancy matter?
Last month, we released the first episode in our new podcast series, 'Understanding longevity', where we were joined by David Sinclair, Director at the International Longevity Centre (ILC), to discuss why life expectancy matters. Read our article to learn more about the key areas discussed in the podcast.
Industry view: Creating a financial ‘safety-net’
What can be done to encourage more individuals towards building a more robust financial safety-net? We invited a panel of experts from leading insurance and savings providers, who are all focused on improving financial security, to share their views.