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End-state Market Update: August 2022

2022 began with the hope of reduced market uncertainty: COVID-19 has been on the decline, and a general pick-up in economic activity has been observed. In practice, the year is being shaped by macroeconomic and geopolitical headwinds, and against the prospect of stagflation over the horizon.

 

In the meantime, the UK insurance sector is grappling with an added layer of complexity: the first ever reform of the Solvency II regulatory regime. For a highly regulated ecosystem, the stakes are high.

 

In our H1 2022 End-state Market Update, we focus on the following aspects:

 

1. Potential implications of the Solvency II review; and

2. Implications of the current macroeconomic environment
on UK insurers.