UK Insurance: General (19 June 2017)

OAC Digest
Investments, Life insurance, Non-Life, PRA / Bank of England

19 June 2017

Selected recent UK news items of more general interest:

At its meeting ending 14 June, the MPC voted to maintain Bank Rate at 0.25% although 3 (of the 8 members) voted in favour of a rise. The committee also voted to maintain programmes of corporate and UK government bond purchases.

On 13 June, Charlotte Gerken, Bank Director, spoke on "The Bank of England’s approach to operational resilience." The Bank is developing their micro prudential, firm level supervision approach which "will set clear expectations of firms and provide tools to assess firms’ resilience". She commented that "the cyber threat is particularly and peculiarly challenging and clearly of increasing concern to all of us" adding that next month’s Financial Stability Report will announce the next steps for the FPC's cyber work programme.  

Latest ONS statistics:

  • Pay for employees in Great Britain increased by 2.1% including and 1.7% excluding bonuses. 
  • Prices up 2.9% (up from 2.7%) / 3.7% (up from 3.5%) as measured by CPI/RPI. 

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26 June 2017

UK Insurance: FCA (26 June 2017)

Selected recent news from the UK's prudential regulator: Appointed Representatives follow up, call for input on access to insurance, cyber security guide and money laundering developments.