Regulatory Alerts2026-03-11
Added · Updated
PRA Fines U K Insurance Limited £10,625,000
The Prudential Regulation Authority has imposed a £10,625,000 financial penalty on U K Insurance Limited for overstating its Solvency II balance sheet during 2023 and 2024. The miscalculation resulted from inadequate controls and resourcing issues that breached core PRA reporting rules, prompting a formal enforcement action. By proactively admitting the error and utilizing the Early Account Scheme, the insurer secured a 50% settlement discount in this landmark case.
More like this from BOE
BOE published 3 documents in the last 30 days. We email you each new one the day it's published.
Topics
Share