This report examines the key regulatory updates in September for life insurance companies in the United Kingdom and Europe. For September 2025, we note items published by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA).

Key developments include:

• FCA publishes feedback on artificial intelligence life testing
• FCA’s chief economist delivers speech on rebalancing risk to facilitate innovation and growth
• FCA publishes priorities for 2025 to 2026
• PRA publishes consultation paper 20/25, ‘Insurance third-country branches: policy implementation and other updates’
• PRA’s director for prudential policy delivers speech on funded reinsurance and capital in the bulk annuities market
• PRA publishes policy statement 15/25, ‘Closing liquidity reporting gaps and streamlining standard formula reporting’.