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DTSTART;TZID=Europe/London:20240321T120000
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DTSTAMP:20260409T221327
CREATED:20240310T182719Z
LAST-MODIFIED:20240310T184942Z
UID:82378-1711022400-1711026000@staging.limestreetguide.com
SUMMARY:PRA Solvency Exit Planning Requirements - practical implications for insurers
DESCRIPTION:PRA Solvency Exit Planning Requirements – practical implications for insurers\nAt this market briefing\, our guest speakers will shed light on the upcoming PRA requirements for (almost) all insurers to prepare for solvent exit\, including practical considerations for designing a Solvent Exit Plan. \nDescription\nThe PRA is introducing requirements for insurers to plan for a solvent exit. Most notably\, almost all UK insurers will need to produce and maintain a Solvent Exit Analysis (SEA)\, setting out how they would approach exiting the market – irrespective of how unlikely this might be. \nWhile firms can leverage existing BAU risk management and scenarios to some extent\, for most insurers this will be the first time they formally have to consider their exit strategy. Under the PRA’s own cost benefit analysis\, the additional work is likely to require 2 FTEs to familiarise themselves with the proposals\, conduct a gap analysis\, set up internal governance and put together a first SEA. \nDuring this market briefing\, our presenters will share insight on the PRA’s upcoming expectations. They will draw on their experience in supporting insurers with recovery and resolution planning to provide practical insight on key challenges including: \n\nScenario development: developing scenarios and projections\, adapting planning for stressed and non-stressed exit\nIdentifying risks and barriers to solvent exit: from mapping legal contracts to considering vulnerable customers\, firms will need to set out and potentially address obstacles to resolvability\nCommunication: identifying key internal and external stakeholders and how they should be engaged\nGovernance and assurance: PRA’s expectations on governance\, including designating the responsible SMF\n\nSpeakers from KPMG\n\nAlisa Dolgova\, Insurance Prudential Regulation Sector Lead for the EMA Financial Services Regulatory Insight Centre (RIC)\nMatthew McLeod Financial Risk Manager\n\n		\n\n							\n					Share this event with your colleagues:\n				 \n			\n			\n\n								\n		\n\n							\n\n					\n						\n						 \n					\n						\n							\n\n							\n																Facebook\n									\n						\n\n											\n					\n									\n							\n\n					\n						\n						 \n					\n						\n							\n\n							\n																Twitter\n									\n						\n\n											\n					\n									\n							\n\n					\n						\n						 \n					\n						\n							\n\n							\n																LinkedIn\n									\n						\n\n											\n					\n									\n							\n\n					\n						\n						 \n					\n						\n							\n\n							\n																Email\n									\n						\n\n											\n					\n									\n			\n					\n		\n			\n		\n		Visit Event Website
URL:https://staging.limestreetguide.com/event/pra-solvency-exit-planning/
LOCATION:Online
CATEGORIES:Online,Education & Training
ATTACH;FMTTYPE=image/png:https://staging.limestreetguide.com/wp-content/uploads/2016/11/image-international-underwriting-association-e1568834983483.png
ORGANIZER;CN="International Underwriting Association":MAILTO:info@iua.co.uk
GEO:51.533166;-0.130418
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