
All AFM members meet exemption threshold
The Prudential Regulatory Authority has announced that small insurers will no longer be required to have their annual Solvency and Financial Condition Report (SFCR) externally audited. The decision comes following a lobbying campaign from the Association of Financial Mutuals (AFM), which provided evidence that PS25/18 (‘Solvency 2: external audit of the public disclosure requirement') was a very costly exercise and duplicated verification work elsewhere; it added pressure and in many cases...
To continue reading this article...
Join Cover
- Unlimited access to real-time news, key trend analysis and industry insights.
- Stay on top of the latest developments around Covid-19, regulation, diversity and mental health.
- Receive breaking news stories straight to your inbox in the daily newsletter.
- Members only access to monthly programme 'The COVER Review'
- Be the first to hear about our CPD accredited events and awards programmes.