iNED - 2025 Regulatory Priorities

iNED FORUM - SEASON THIRTEEN

Join us for the second Forum of the 2025 Programme   

"2025 Regulatory Priorities"
 

Regulation has had a profound effect on the insurance industry over the past twenty years, in particular since the global financial crisis. The expectations placed on Directors by the sector's regulators have increased dramatically with personal accountability codified under the Bank of England's Senior Managers & Certification Regime.

This Forum will examine the current priorities of both the PRA and the FCA, as well as those of the Corporation of Lloyd's in its regulatory role vis a vis the Lloyd's Managing Agent community. This examination comes at a time when the current government has put regulators under pressure to set an agenda which is more encouraging of growth. Specifically, both the FCA and PRA were given an additional secondary competitiveness and growth objective in  August 2023 under the previous government.

However, against this background, regulators remain extremely active, for example Operational Resilience goes live on March 31st and the FCA are expected to set new expectations in the D,E,I space during this year. The PRA also continues to be active in the climate risk space.   
Interpreting what all this means for Boards in terms of overseeing a firm's approach to regulatory compliance is a complex task which this Forum aims to address.

We will hear from Sarah Ouarbya who leads Forvis Mazars' Regulatory Compliance team regarding the PRA, from Nicola Ball, a Director in BDO's Financial Services Advisory Practice on the FCA, and from Caroline Sandeman-Allen who becomes Market Oversight Director at the Corporation of Lloyd's on March 1st who will provide the LLoyd's perspective. 
 

LEARNING OBJECTIVES
 
By attending this Forum, delegates should be able to:
 

• Articulate the 2025 plans and priorities of the three regulators.
• Explain the areas where the FCA and PRA are shifting their approach in response to the new secondary competitiveness objective.
• Challenge executive management more effectively on regulatory matters by being better informed. 
   

This in person iNED Forum is open to insurance Non-executive Directors (iNEDS), aspiring iNEDS, Company Secretaries, Compliance staff and all those involved with corporate governance, underwriting, broking and risk management in the insurance sector.

There is no requirement for delegates to be members of the Worshipful Company of Insurers.

Speaker(s)

Nicola Ball
Financial Services Advisory Director - BDO

Nicola is a Director in BDO’s Financial Services Advisory team, focusing on regulatory conduct and compliance across the insurance sector. She has over 17 years’ experience helping firms navigate regulatory change and deal with FCA and compliance matters such as Consumer Duty and Operational Resilience.

Nicola has completed a number of secondments at insurers, including as Head of Conduct Risk, Head of Compliance, as well as a secondment to the Financial Services Authority. She has also managed a number of regulatory Skilled Person (s166) reviews for the FCA and PRA.

Sarah Ouarbya
Partner - Forvis Mazars

Sarah leads the Regulatory Compliance team within Forvis Mazars' Insurance Risk and Regulatory Consulting practice. She has over 25 years’ experience working with clients in the insurance sector, including insurance companies, Lloyd's syndicates and insurance intermediaries. She is a recognised risk and compliance management specialist and has successfully helped her clients enhance their compliance, governance, risk and control frameworks over this time. Sarah and her team regularly advise clients on application of PRA and FCA regulation, most recently this has included compliance with the Consumer Duty and operational resilience requirements.

Caroline Sandeman-Allen
Market Oversight Director, Lloyd's

Caroline Sandeman-Allen is a solicitor and chartered company secretary. After leaving private practice as a commercial litigation solicitor specialising in marine insurance, she joined Lloyd’s in 2007 where she has held a number of leadership roles including in the Legal team, as Secretary to the Council of Lloyd’s and most recently, Head of Market Governance . With effect from 1 March, Caroline is the Market Oversight Director of Lloyd’s, and in that capacity leads Lloyd’s regulatory jurisdiction over the market.