Illuminate – insurance regulatory newsletter | KPMG | UK
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Illuminate – insurance regulatory newsletter

Illuminate – insurance regulatory newsletter

Annual update on hot topics, trends and milestones in the insurance regulatory space.



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With so much focus on the implications of Brexit on all sectors of the economy, it is sometimes hard to remember there are other risks and opportunities to be dealt with. The world of regulation has not stood still, with greater Europe-wide harmonisation of pre-sales information through the Insurance Distribution Directive (IDD) and the Prudential Regulatory Authority's Senior Managers and Certification Regime (SMCR) both due to become effective later this year. 

The European Insurance and Occupational Pensions Authority (EIOPA) has now issued its final set of advice regarding proposed changes to Solvency II, although it is unclear when the European Commission will turn these into rules. The proposals around harmonisation of approaches to the calculation of the loss absorbing capacity of deferred taxes in particular, could require some changes in approach by UK insurers.

This edition shines a light on a number of issues across regulation. 

  • We give an update on some of the practical considerations and challenges that many UK insurers face from Brexit. 
  • We shine a spotlight on the ever-increasing attention of regulators on pricing in the general insurance sector. 
  • We give an update on the world of cyber risk and its implications for the insurance sector. 
  • We outline of our thoughts on the first set of public Solvency and Financial Condition reports, which includes some helpful reminders before this year’s reports are finalised. 
  • And, we close with our usual look forward to some of the key regulatory matters that insurers will need to address in the coming months.

Download our latest edition here: Illuminate - KPMG's insurance regulatory newsletter.


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