Tag Archives: Senior Managers and Certification Regime

Extension of the Senior Managers and Certification Regime to insurers

In the United Kingdom, the Prudential Regulation Authority and the Financial Conduct Authority recently issued two complementary Consultation Papers, setting out their proposals to extend the Senior Managers & Certification Regime, which currently applies to the banking sector, to insurers. This article by Milliman consultants provides an extended summary of the proposed changes that will apply to Solvency II insurers, Insurance Special Purpose Vehicles and large Non-Directive Firms.