PRA Fines UK Insurance Limited £10.6M Over Solvency II Miscalculation
The Quick Take — AI synthesis of 1 sources covering this story.
- PRA imposed a £10,625,000 penalty on UK Insurance Limited (UKI) for Solvency II balance sheet errors in 2023–2024
- No market price reaction data available; UKI is a subsidiary of Direct Line Group, not independently listed
- Regulatory action comes directly from the Bank of England’s PRA, the UK’s top insurance prudential supervisor
- UKI must remediate its Solvency II reporting controls; ongoing regulatory scrutiny of UK no
Read the full story on market.news
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