Insurance Update – November 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: 

• Linklaters Knowledge Portal – a smarter way to access the information you need
• UK Solvency II reform: PRA sets out plans for reform of the matching adjustment
• Funded reinsurance – a growing risk in the UK life sector?
• PRA to provide more clarity on third-country insurance branches
• PRA discussion paper on potential increase to general insurance FSCS limits
• UK PRA to run dynamic general insurance stress test in 2025 with a “significant shift” from previous exercises
• UK PRA statement on the recalculation of the Transitional Measure on Technical Provisions
• New podcast episode – the FCA’s priorities for the insurance sector
• UK FCA publishes final rules on multi-occupancy building insurance
• FCA review of terminal illness benefits within life insurance protection products
• Alert on UK proposals to boost diversity and inclusion
• Standard Life and Phoenix Life Part VII transfer
• EU: ESAs due to release more technical standards under DORA
• EU: Commission consults on DORA criticality criteria and oversight fees
• Updates proposed re mapping of credit assessments of ECAIs under Solvency II
• EIOPA consultation on supervision of captives
• EIOPA describes its digital strategy for the next three years
• IAIS sets out actions for supervisors to address natural catastrophe protection gaps
• India: Amendments to Reinsurance Regulations
• Recent deals