PRA: PS13/24: Funded reinsurance
PRA has published a policy statement on funded reinsurance (FundedRe), which sets out expectations of life insurance firms entering into or holding FundedRe arrangements as cedants. The expectations come into effect today, 26 July 2024. PRA has also published a Dear CEO letter sent to life insurers. The letter explains how PRA expects firms who use FundedRe to assess their practices against the expectations set out in the Supervisory Statement (SS5/24).
For more information
- https://www.bankofengland.co.uk/prudential-regulation/publication/2024/july/funded-reinsurance-policy-statement
- https://www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/supervisory-statement/2024/ss524-july-2024-update.pdf
- https://www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/letter/2024/letter-ss524-funded-reinsurance-implementation-approach.pdf
Last updated · 13 Mar 2026
Regulatory News - Insurance
See allFCA: Board minutes
FCA has now published the minutes of its 29 January 2026 board meeting. It is stated that “the Board observed the positive outcomes achieved by driving change through outcomes-focused supervisory activity rather than relying solely on rules”.
For more information
FCA: Regulatory priorities - pensions
FCA’s first annual regulatory priorities report for the pensions sector sets out its priorities for the coming year: ensuring well-run schemes that provide value for money to savers; encouraging effective support for consumers; supporting growth and innovation, and modernising pensions and long-term savings. The report also notes other areas of focus. FCA has included an indicative timeline for specific workstreams.
For more information
HMT: Market Engagement Group
HMT has published the ToR for a senior‑level forum for financial market participants to share their views on UK-related developments in financial markets and broader market themes with Rachel Reeves.
FCA: CP26/8: Quarterly Consultation Paper
FCA has published the latest of its QCPs, which seeks feedback on various proposed amendments and corrections, including with regard to: amendments to CASS in relation to cryptoasset activities; transparency requirements for financial instruments and rights of action for damages in MAR; increasing the threshold for commodity derivatives under UK EMIR; amending the prohibition on non-cash distributions on own funds instruments for FCA investment firms; minor changes to UK Listing Rules, and amendments relating to ENFG, UNFCOG, ICOBS and CONC.
For more information
FCA: Appointments
FCA has announced new appointments to its senior leadership team.