UK Updates
FCA: Response to the Cost Benefit Analysis (CBA) Panel’s Interim Annual Report
On 04 July 2025, the FCA released recommendations on the use of CBAs and 3 specific, strategic areas where they recommend CBA policy and practice should be developed.
FCA: FCA outcomes and metrics 2022 to 2025
On 10 July 2025, the FCA reported on the final outcome of Strategy 2022 – 2025 which has now come to an end.
FCA: Home and travel claims handling arrangements
On 22 July 2025, the FCA published good practice and areas for improvement for home and travel insurers’ claims handling arrangements.
FCA: Premium Finance Market Study Update Paper
On 22 July 2025, the FCA published an update paper which outlines the initial findings of the their premium finance market study, launched in October 2024.
FCA: General insurance pricing practices (GIPP) remedies
On 22 July 2025, the FCA published the results of their evaluation of GIPP designed to address harm to consumers.
FCA: Roadmap for retail insurance
On 22 July 2025, the FCA published a package of reports on how the retail insurance market is working and set out actions on how specific issues should be addressed.
FCA: Motor insurance claims analysis
On 22 July 2025, the FCA published findings on the causes of increased premiums, particularly increased claims costs, to support the work of the Motor Insurance Taskforce.
PRA: Speeches
In July 2025, the PRA published the following speeches:
- The meaning of reserve currency – remarks by Andrew Bailey
- Weathering the storm: stability in a changing climate - speech by Sarah Breeden
- Getting liquidity where it is needed – speech by Nathanaël Benjamin
PRA: Regulatory Digest
On 01 July 2025, the PRA published their regulatory digest for June 2025.
PRA: Lloyd’s managing agent authorisation process to be streamlined
On 07 July 2025, the PRA published a report on how Llyod’s managing agent authorisation process is to be streamlined to support growth.
PRA: HM Treasury’s captive insurance consultation response
On 15 July 2025, the PRA published a joint statement by the PRA and FCA which backs HM Treasury’s plans to grow the UK’s captive insurance market. They aim to create a proportionate regulatory regime reflecting the lower risks of captive insurers.
PRA: CP18/25 – Review of the Senior Managers and Certification Regime (SM&CR)
On 15 July 2025, the PRA announced a consultation paper, outlining the initial proposed changes to the SM&CR. This paper will close to responses on 07 October 2025.
PRA: CRR and Solvency II requirements in PRA Rulebook
On 17 July 2025, the PRA published a restatement of CRR and Solvency II requirements in PRA Rulebook – 2026 implementation. The implementation date for final rules and policy material reflecting the policy changes set out in this policy statement is 01 January 2026.
PRA: 2026 Dynamic General Insurance Stress Test
On 18 July 2025, the PRA published an update on the 2026 Dynamic General Insurance Stress Test (DyGIST).
PRA: Accelerated authorisations for UK Insurance Special Purpose Vehicles (ISPV)
On 25 July 2025, the PRA announced authorisations for UK ISPV will be accelerated as part of the PRA’s ongoing intention to reform the functioning of the UK ISPV regulatory regime.
