This report examines the key regulatory updates in February for life insurance companies in the United Kingdom and Europe. We note items published by the European Insurance and Occupational Pensions Authority (EIOPA), Financial Conduct Authority (FCA), and the Prudential Regulation Authority (PRA). Key developments include:
- EIOPA updates its guidelines on the supervisory review process and on market and counterparty risk exposures following Solvency II review.
- FCA clarifies its expectations of firms regarding the meaning of “fair value”.
- FCA releases its report on regulatory priorities for the insurance sector.
- PRA publishes Consultation Paper CP2/26 – Reforms to securitisation requirements: proposals to reform requirements and supervisory expectations.
- PRA publishes Consultation Paper CP4/26 – UK Solvency II Own Funds: Updates and fixes to rules and supervisory expectations.
- PRA publishes a statement on the 2028 Life Insurance Stress Test.