UK Insurance: General (14 November 2016)

OAC Digest
PRA / Bank of England

14 November 2016

Selected recent UK news items of more general interest: 

On 10 November, ONS published a statement on the future of consumer price inflation statistics in the UK. The statistical body intend to make CPIH the preferred measure of consumer price inflation from March 2017. They will continue to publish CPI and RPI but RPIJ will be discontinued. Currently, the Bank of England targets a CPI rate of 2%.

On 9 November, the Bank of England's Chief Operating Officer provided an update on their work on financial technology, FinTech. The Bank is looking at the impact of technology on financial services and, in particular, using innovations to meet their responsibilities. The Bank set up a FinTech Accelerator in June to work with firms and applications are open until December.


David Gray

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David Gray
Consultant Actuary

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