Recent Regulatory Developments Affecting the Insurance Industry in the UK and EU

23 August 2021
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Key takeaways:

  • The PRA is consulting on Phase 1 of its Review of Solvency II Reporting and Disclosure Requirements, proposing changes to reduce the volume of financial information reported.
  • The PRA has published Statements on Outsourcing and Third-Party Risk Management to facilitate greater insurer resilience and adoption of cloud and other new technologies.
  • The European Commission has adopted a Delegated Regulation helping companies and investors to make sustainable investment decisions.