Insurance Update - August 2023

This newsletter is produced by Linklaters’ insurance lawyers and is intended to keep you up to date with current issues in international insurance law, regulation and practice. Please click here to view the edition. The following topics are covered: 

• UK Solvency II reform: PRA consults on bulk of its proposals
• UK: Mansion House Reforms aim to deliver a smarter regulatory framework
• UK: Financial Services and Markets Bill 2022-23 receives Royal Assent
• UK: Retained EU law revocation and reform
• UK FCA finalises new guidance for insurers on supporting customers in financial difficulty
• UK FCA review of support given to GI customers in financial difficulty
• Our new Regulatory Insurance webpage 
• EIOPA consults on new supervisory statement on third country reinsurance
• EIOPA explores limited uptake of natural catastrophe insurance
• EIOPA discussion paper on potential use of open insurance
• FIDA: EU sets out ambitious plans for open finance
• IAIS publishes updated Global Monitoring Exercise document
• India: IRDAI issues master circular on registration of Indian insurance companies 
• India: IRDAI issues regulations for insurance commissions
• India: Guidelines on remuneration of non-executive directors and key managerial persons
• IRDAI strengthens the cyber security system for insurers
• Recent Deals