Quarterly insights for the UK Insurance & financial services market
Current Issues in Insurance & Financial Services – Summer 2022
07 Jul 2022
In this edition of Current Issues in Insurance & Financial Services, we bring you the latest insights into the UK insurance & financial services market including:
- Our upcoming 8th Annual Insurance & Financial Services seminar
- Results of the Climate Biennial Exploratory Scenario (CBES) and what's next for insurers
- Pensions industry alignment in the direction of consumer outcomes
- 2021 UK Life Insurance Solvency II Disclosures
- Cognitive bias as a barrier to tackling climate change
- Club Vita’s latest research revealing an 8-year gap for women in their retirement planning
8th Annual Insurance & Financial Services seminar
Following the success of last year’s post-pandemic in-person event, we're pleased to announce our 8th Annual Insurance & Financial Services Seminar. Register to join us from 9.00am on Wednesday 5 October in London, where we'll explore the theme of working together across the insurance and financial services markets to create better futures for our customers.
Climate Biennial Exploratory Scenario: The results are out – what’s next for insurers?
On Tuesday 24 May 2022, the Bank of England (BofE) published the results of the Climate Biennial Exploratory Scenario (CBES) which explored the financial risks posed by climate change for the largest UK banks and insurers. In our latest newsflash, we cover the key messages, potential opportunities and challenges, and next steps.
Pensions industry alignment in the direction of consumer outcomes
Anyone who works in pensions will likely already understand the scale of change experienced in the pensions landscape over the past decade. Our article considers not only the scale of change but the efforts to tackle the challenges this brings, and the opportunities to meet customer needs.
2021 UK Life Insurance Solvency II Disclosures
The UK’s review of Solvency II is well underway with an uncertain outcome as of yet for UK Life Insurers. However in this article, we take a look back at recent Solvency II disclosures made by the sector at the end of 2021. How have balance sheets emerged from the pandemic? How well placed are they to withstand future shocks? And how are insurers generating and planning to deploy any surplus capital?
Cognitive bias as a barrier to tackling climate change
There is growing concern that companies won't react quickly enough to mitigate the effects of climate change, which raises the question of why some companies and investors may be slower to react than others. In this blog, we focus on some of the underpinning psychology for this and how we can use this knowledge to identify biases in facilitating the journey to net-zero.
The 8-year gap - an understanding issue we mustn’t ignore
A recent survey from international longevity experts Club Vita asked the morbid but important question – how long do you think you will live?
Our blog summarises Club Vita's findings, including the gap in people's appreciation of their own longevity and the financial consequences on planning for retirement.