Tussle over UK insurance regs heats up ahead of Brexit

The UK’s Prudential Regulation Authority is standing its ground over its interpretation of Solvency II amid pressure from politicians and industry bodies. But on issues ranging from insurers’ capital requirements and assets to the UK’s departure from the EU and even what the PRA’s objectives should be, there is lively debate over how a future regulatory regime should look.

  • By Jasper Cox
  • 13 Mar 2018

Since its introduction in 2016, Solvency II has reshaped insurance regulation across Europe. But in the UK it has been met with annoyance by many in the industry, who do not perceive it as a clear improvement on the previous Individual Capital Adequacy Standards regime.

“Solvency II is ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 8,539.81 48 5.68%
2 UniCredit 8,310.71 49 5.53%
3 LBBW 7,986.15 46 5.31%
4 Natixis 7,841.57 37 5.22%
5 Credit Suisse 7,360.16 38 4.90%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 52,355.80 185 6.78%
2 JPMorgan 50,673.66 201 6.57%
3 Citi 46,973.99 239 6.09%
4 Goldman Sachs 43,227.47 325 5.60%
5 Morgan Stanley 41,812.90 219 5.42%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 43,004.00 155 11.17%
2 JPMorgan 42,312.21 144 10.99%
3 Citi 38,799.49 190 10.08%
4 Goldman Sachs 35,233.41 291 9.15%
5 Morgan Stanley 32,672.22 174 8.49%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 6,263.92 23 8.06%
2 UniCredit 5,364.43 20 6.90%
3 LBBW 4,811.97 20 6.19%
4 SG Corporate & Investment Banking 4,208.56 18 5.42%
5 Deutsche Bank 4,163.44 13 5.36%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 02 May 2016
1 Morgan Stanley 365.83 497 7.62%
2 JPMorgan 332.66 618 6.92%
3 Bank of America Merrill Lynch 299.89 590 6.24%
4 Goldman Sachs 276.71 375 5.76%
5 Citi 264.54 592 5.51%

Bookrunners of European Subordinated FIG

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 HSBC 4,729.28 11 12.78%
2 UBS 3,374.07 13 9.12%
3 BNP Paribas 2,704.23 11 7.31%
4 Credit Agricole CIB 2,458.47 6 6.64%
5 SG Corporate & Investment Banking 2,263.58 10 6.12%