PRA CEO letter warns action is needed on cyber
Regulator calls on providers to cover more ground on cyber in relation to risk management, risk appetite and strategy, and pledges to continue to keep cyber insurance underwriting risk under review.
Anna Sweeney, director, insurance supervision at the Prudential Regulation Authority (PRA) has warned that more ground needs to be covered by firms in relation to cyber insurance underwriting risks.
The letter to chief executives of specialist GI firms regulated by the PRA, including insurance companies and Lloyd’s of London, follows a supervisory statement on cyber published by the PRA in July 2017 (SS4/17).
The statement covered the following three areas:
Actively managing nonOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insurer
Interview: Accelerant boss Radke on seeking broker input to help sector unlock value
“We would love an opportunity to start a dialogue with a number of UK brokers,” Accelerant Risk Exchange CEO Jeff Radke has told Insurance Age stressing the platform is not just looking towards “big, giant” brokers.
New event launched to celebrate London as global insurance centre
A new UK insurance event, London Risk Week, has been launched to celebrate the English capital “as a centre of risk transfer and showcase its expertise and experience”.
Regional open market book key growth area for 2026 – Hiscox’s Walker
Stewart Walker, broker development manager at Hiscox UK, has highlighted up to four large schemes deals for the first half of the year, and how the regional open market book is a key growth area.
Convex reveals GWP approaching $6bn and profit growth for 2025 in run-up to AIG deal
Convex Group grew gross written premium by 14% in 2025 to $5.88bn (£4.35bn) as it made a net profit for the third year in a row ahead of sealing investment from AIG.
QBE International posts double digit premium growth
QBE International’s combined operating ratio improved again to 88.5% last year as the division, in which the UK sits, grew premium 12.6%.
QBE divests arm with UK business to Swiss Re
QBE has entered into an agreement to divest its global trade credit and surety business to Swiss Re Corporate Solutions, the commercial insurance arm of the Swiss Re Group.
People Moves: 16 – 20 February 2026
Keep up to date with the latest personnel moves in insurance.
Aviva secures naming rights for new 20,000 capacity Bristol concert venue
A new 20,000 capacity indoor entertainment arena in Bristol will be known as the Aviva Arena, it was announced today.