Summary of regulatory developments: Updates for February 2023

This report reviews regulatory updates in February for life insurance companies. We include items published by the European Insurance and Occupational Pensions Authority (EIOPA), Prudential Regulation Authority (PRA), Financial Conduct Authority (FCA), with details for each agency, such as:

• EIOPA publishes Supervisory Convergence Plan for 2023 and Supervisory statement on governance arrangements in third countries
• FCA supports transition to implementing the Consumer Duty
• EIOPA publishes Risk Dashboard based on Q3 2022 Solvency II Data
• PRA publishes Consultation Paper 3/23 "Dealing with insurers in financial difficulties"
• FCA publishes discussion paper on finance for sustainable change and Regulatory Initiatives Grid