Recent market events: implications for the UK insurance sector
Three US banks entered voluntary or government ordered resolution between 8 and 12 March 2023. All three banks faced liquidity challenges due to severe deposit outflows and reduced capacity to generate new liquidity.
In this paper we discuss the events that led to the collapse of the US banks. We also provide initial views on the responses we are likely to see from regulators, as well as the steps insurers should consider taking to strengthen their resilience in the face of market stress.
Download this paper for an analysis of how recent events may increase regulatory focus, across a broad range of areas, including governance, financial resilience, risk management, stress and scenario testing capabilities, recovery and resolution, and operational resilience.
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Leader of Industry for Financial Services, PwC United Kingdom
Tel: +44 (0)7711 773030
