PRA publishes 2022 stress test feedback for insurers

The PRA published its feedback on the Insurance Stress Test 2022 exercise on 23 January 2023. The results show that the UK insurance sector is resilient to the PRA-specified stress scenarios. For life insurers these scenarios were market stresses and an increase in longevity. For general insurers, which includes Lloyd's syndicates, the stress scenarios were natural catastrophe and cyber losses. The PRA expects boards to assess whether the risk management findings and gaps highlighted in its feedback apply to their firm and, if so, to commission an action plan to address them.

Download this At a glance to see our summary of the PRA’s 2022 stress test feedback and what it means for firms.