This report examines key regulatory updates in May for life insurance companies in the United Kingdom and Europe. We note items published by the Bank of England (BoE), European Insurance and Occupational Pensions Authority (EIOPA), Financial Conduct Authority (FCA), His Majesty’s (HM) Treasury and the Prudential Regulation Authority (PRA).
Key developments include:
- BoE speech focuses on operational resilience in a rapidly changing world.
- EIOPA publishes the Risk-Free Rate Technical Documentation to become applicable from 30 January 2027.
- The FCA, BoE, and HM Treasury issue joint statement on frontier AI models and cyber resilience.
- The PRA publishes policy statement PS13/26 on insurance third-country branches and implementation updates.