This report examines key regulatory updates in August for life insurance companies in the United Kingdom and Europe. We note items published by the Bank of England (BoE) and the Prudential Regulation Authority (PRA).
Key developments include the following:
- The PRA planned an industry roundtable for 17 September 2026 to discuss Consultation Paper 11/26, “A tailored regime for captive insurance”. The consultation proposes a proportionate regulatory framework for single-parent captive insurers, including tailored capital, reporting, authorisation and supervisory requirements. The roundtable is intended to gather stakeholder feedback and provide further clarification on the proposals.
- The BoE published minutes summarising discussions from the Artificial Intelligence Consortium's June meeting, focusing on the opportunities and risks arising from the increasing use of artificial intelligence (AI) in UK financial services. The discussions covered model governance, operational resilience, concentration risk and emerging AI-related systemic risks.