Insurer Update – Winter 2023

Welcome to our latest edition of Insurer Update.

This publication aims to help carriers across the insurance market understand and digest some of the more pertinent financial reporting and tax developments, and their implications for medium sized and smaller insurers.

In our June edition, we outlined the main objectives of the Solvency II reform in the UK. But what’s the latest? We take a look back and forward at this year’s consultation papers and recent legislative changes.

The latest regulatory pronouncements are always of interest. The FCA and PRA published their respective consultation papers in September on the proposal to introduce a new regulatory framework on diversity and inclusion (D&I) in the financial sector. We look at what this could mean for your business as new regulations come into force.

It’s been a little over 12 months since our insurance audit team provided an update on ESG reporting and a lot has happened over this period. In this edition, we provide a brief summary of key developments in the past year.

And finally, as we look towards a New Year, we review some of the key tax areas to consider in the next 12 months, from Transfer Pricing to Human Capital.

We hope you find this edition useful and thought provoking. As always, please contact any of the team to discuss how we can support your business and let us know your thoughts on future topics