Milliman March Webinar: Regulatory Outlook 2023
Milliman consultants from London provide insight on a variety of subjects focused on PRA objectives for 2023.
Ease of exit
Recovery and resolution planning is an area of regulatory focus in 2023. In this session we will talk about what is expected of firms with regard to recovery and resolution planning and the key challenges.
Credit risk and climate change
With credit risk heightening in recent years, and climate change continuing to present an increasing, material risk to firms, we will discuss a practical approach to credit risk in the context of Bank of England’s Climate Biennial Exploratory Scenario (CBES) climate scenarios.
Section 166 Skilled Person Review
We look at what firms can do in practice to avoid becoming subject to a Skilled Person review. Additionally, where a Section 166 review does take place, we will provide advice and hints as to how to get the most out of such a review and how to help the Skilled Person in order to get the best possible result.
Reinsurance risk is an area UK regulators will be paying closer attention to this year, in particular the use of longevity reinsurance. This session will cover the concerns the PRA has with respect to this.
ICS developments 2023
This year is shaping up to be an important one in the development of the Insurance Capital Standards (ICS). We provide a brief update on the key areas of activity planned by the International Association of Insurance Supervisors (IAIS).
LIST 2022 feedback
We will briefly look at the 2022 LIST feedback received from the Bank of England and highlight areas that insurers may want to focus on for 2023 as a result.