Insurers, reinsurers, insurance intermediaries and distributors of insurance are subject to UK regulation by the Financial Conduct Authority (FCA), and the Prudential Regulation Authority (PRA).
The FCA is the conduct regulator for (re)insurers.
Under Financial Services and Markets Act 2000 (FSMA 2000), the FCA is responsible for a broad range of regulated activities. Its role includes rule making, issuing codes, providing general guidance, setting policy and principles, and taking enforcement action. For more information about the FCA, see Practice Notes: Financial Conduct Authority—objectives and powers and FCA—corporate governance, structure and constitution. For more information about FSMA 2000, see Practice Note: Financial Services and Markets Act 2000—essentials.
The FCA Handbook sets out...
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