On 30 May 2014, the Prudential Regulation Authority in the UK (PRA) published a consultation paper on valuation risk for insurers authorised by it. The paper contains a draft supervisory statement setting out what the PRA expects from insurers in relation to financial asset valuation. The PRA's expectations are broken down into two categories, i.e. those regarding (a) valuation uncertainty and prudent valuation (in particular, the PRA expects firms to monitor and manage valuation risk) and (b) 'client-supplied' prices (i.e. external valuation of financial assets). Comments are invited until 11 July 2014.