The PRA has a continued focus on liquidity management and reporting for life insurers. In March 2025, the consultation period for ‘CP19/24 – Closing liquidity reporting gaps and streamlining Standard Formula reporting’ closed, and the current expectation is that firms will need to implement the reporting proposals by 31 December 2025. In addition to the new reporting requirements, the regulator’s existing expectations for a robust liquidity risk management framework are set out in SS5/19, with the PRA indicating that this remains an area of focus in its 2025 insurance supervisory priorities.

In this session we will consider three key areas: 

An overview of the reporting requirements outlined in CP19/24 and of the areas of challenge being observed across the market, and actions being taken by firms to meet the reporting requirements

A summary of current liquidity risk management practices being adopted by firms, which will be supported by findings from a survey that will be published in 2025 by the working party 

Consideration of the key interactions between the existing liquidity risk management metrics and the information that is being presented within the PRA reporting templates. This will consider areas of consistency and differences and the risks or opportunities that this may present to firms. 

This talk will be presented by the IFoA Liquidity Working Party and is aimed at both those currently involved in liquidity risk management and reporting and those with a general interest in current areas of regulatory focus. 

Speakers:

Jon Mitchell, PwC 

Anthony Chow, KPMG