Summary of regulatory developments: Updates for January 2024

This report reviews regulatory updates in January for life insurance companies operating in the United Kingdom and Europe. We note items published by the European Supervisor Authorities (ESAs), European Insurance and Occupational Pensions Authority (EIOPA), Financial Conduct Authority (FCA), and Prudential Regulation Authority (PRA). Details include: 

• The ESAs publish the first set of final rules under the Digital Operational Resilience Act
• EIOPA publishes its Consumer Trends Report 2023 and a second report on the Insurance Distribution Directive
• The FCA’s chief executive delivers a speech on consumer-facing technology keeping consumer markets honest
• The PRA publishes a letter on insurance supervision priorities for 2024