By Huw Jones LONDON (Reuters) - The Bank of England said on Wednesday it would use its new powers to publish individual results for life insurers in ...
By Huw Jones LONDON - The Bank of England said on Wednesday it would use its new powers to publish individual results for life insurers in its next stress test for the insurance sector inSaltWire's Atlantic regional weather forecast for September 20, 2023 | SaltWireLONDON - The Bank of England said on Wednesday it would use its new powers to publish individual results for life insurers in its next stress test for the insurance sector in 2025.
Gareth Truran, director of prudential policy at the BoE, said individual results will be a"big shift" for life insurers and there is a need to make sure the results can be properly understood given their potential sensitivity. "Our expectation is the first of the new stress tests will be launched in Q1 2025 with the publication in Q4 that year," Truran said in a speech.
"For this next exercise, given the amount of reform under way for both us and firms over the next year or so, we expect individual disclosure of results for the largest life insurers will be one of the more material changes from our last stress test in 2022," Truran said.
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