PRA has developed tools to analyze the data submitted by firms to identify key issues and emerging risks in the insurance market to support forward-looking judgment-based supervision. This release shares some headline outputs from its high-level analysis. PRA requests feedback on the release and suggestions for future releases by December 31, 2017.
This release presents a number of metrics over 2016, using data from the quarterly reporting templates only. It does not comment on the data or seek to provide any explanation of observed trends. There are two main cohorts in the release: life insurers and general insurers. The metrics are themed around capital, assets, and technical provisions (including risk margin). Any discrepancies or indicators of risk will be managed on an individual firm basis. There is value in setting out this data to enable firms to obtain a view of how they compare with industry averages and sense-check whether this accords with their internal views. The data is also valuable for the purpose of transparency, so that firms are aware of how we are reviewing the data submitted to us.
Related Link: Insurance Data Release (PDF)
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EBA issued a revised list of validation rules with respect to the implementing technical standards on supervisory reporting.
EBA published its response to the call for advice of EC on ways to strengthen the EU legal framework on anti-money laundering and countering the financing of terrorism (AML/CFT).
NGFS published a paper on the overview of environmental risk analysis by financial institutions and an occasional paper on the case studies on environmental risk analysis methodologies.
MAS published the guidelines on individual accountability and conduct at financial institutions.
APRA published final versions of the prudential standard APS 220 on credit quality and the reporting standard ARS 923.2 on repayment deferrals.
SRB published two articles, with one article discussing the framework in place to safeguard financial stability amid crisis and the other article outlining the path to a harmonized and predictable liquidation regime.
FSB hosted a virtual workshop as part of the consultation process for its evaluation of the too-big-to-fail reforms.
ECB updated the list of supervised entities in EU, with the number of significant supervised entities being 115.
OSFI published the key findings of a study on third-party risk management.
FSB is extending the implementation timeline, by one year, for the minimum haircut standards for non-centrally cleared securities financing transactions or SFTs.