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The UK’s largest firms including insurers and brokers will be mandated to disclose climate-related financial information from April.
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The regulator plans to switch its supervisory approach from assessing the implementation of climate-related expectations to “actively supervising against them”.
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Insurance Insider takes a deep dive into the challenges facing the #2 run-off player following a regulatory probe, management turnover and a big 2020 loss.
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The regulator has flagged to London carriers the risks arising from transformation programmes across the market.
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New FCA rules apply to all personal and commercial general insurance products but does exclude large risks and reinsurance.
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Arguments will be heard from 8 November in the case.
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The ratings agency said the island would continue to provide a beneficial environment for carriers overall.
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The chair said reform work at the regulator should be handed to a chair who can see it through to completion.
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The UK Endorsement Board was set up to endorse international accounting rules after Brexit.
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The carrier said its $110mn net claims burden will be unaffected.
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Trade body Insurance Europe has warned the Prudential Regulation Authority (PRA) that the temporary regime enabling EU reinsurers to trade in the UK will close before they know which of the Solvency II reforms will be taken forward.
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The Competition and Markets Authority will investigate whether the deal lessens competition in the UK.