On 26 September 2018, at the Annual Financial CEO Conference, David Rule, the PRA's Executive Director of Supervision gave a speech covering current issues in insurance supervision. In his speech Mr Rule:
- gave an update on progress by the International Association of Insurance Supervisors towards a global Insurance Capital Standard;
- talked about the fledgling UK market for Insurance-Linked Securities and the PRA's new insurers start up unit;
- reiterated the messages on underwriting and reserving in wholesale insurance and reinsurance markets from Anna Sweeney’s Dear CEO letter earlier this year;
- discussed capital management, building on a Supervisory Statement the PRA published in May;
- shared some data collected by the PRA on the sensitivity of the capital surpluses of UK life insurers to various market movements and
- encouraged greater consistency in disclosure of such sensitivities by insurers as well as of the drivers of changes in their capital positions over time.