Alan Sheppard, the head of Insurance Policy at the PRA, discussed how the PRA can foster the role of the UK as an international centre for insurance and reinsurance business. His speech focused on:
- the importance of prudential standards;
- support for innovation;
- the PRA’s approach to supervising incoming branches; and
- some reforms the PRA is planning in order to make it easier to put capital to work in the London Market.
He reaffirmed the PRA’s commitment to play its part in fostering a competitive UK insurance industry.