Experience You Can Trust

Navigating Regulatory Scrutiny at Board Level

When an FCA and PRA-regulated mutual insurance association, serving members with c.£700m combined fee income, faced heightened regulatory scrutiny and market volatility, strong board-level leadership was needed to restore confidence. Governance was strengthened following a strategic review, through improved transparency of reporting to the Board and key stakeholders, and a redesigned reserving philosophy to improve capital adequacy. Under CEO accountability for an annual budget of c.£8m, financial resilience was prioritised alongside regulatory compliance. The result was a Board supported in maintaining regulatory confidence through a challenging period, and compliance with regulatory expectations within agreed timeframes.