PRA Digest: Captive Insurance Roundtable, IFRS 9 Feedback and Delayed Liquidity Policy
UK PRA September 2026 digest covers captive insurance roundtable feedback, IFRS 9 expected credit loss review letter and a liquidity policy statement delay.
The story in focus
The Prudential Regulation Authority's September 2026 digest reports a roundtable summary on its captive insurance consultation, a letter to finance chiefs of selected deposit-takers on IFRS 9 expected credit losses, and a delay to its liquidity policy statement to the first quarter of 2027.
- The captive insurance consultation closes on 14 October 2026.
- The IFRS 9 ECL letter went to CFOs of selected PRA-regulated deposit-takers on 30 September 2026.
- The liquidity policy statement is now expected in Q1 2027 rather than Q4 2026.
Captive insurance and IFRS 9 feedback
The PRA published a summary of an industry roundtable held on 17 September 2026 concerning CP11/26, its consultation on a tailored regime for UK single-parent captives. The proposals include a streamlined PRA and FCA authorisation process with a target of four to six weeks, lower capital and reporting requirements, and safeguards. The consultation closes on 14 October 2026.
Separately, the PRA published a letter dated 30 September 2026 sent to chief financial officers of selected PRA-regulated deposit-takers. It gives thematic feedback from the regulator's 2026 review of written auditor reports on firms' IFRS 9 expected credit loss processes, covering data governance, model risk and climate risk.
Reporting and policy timetable
The PRA said publication of its policy statement responding to CP5/26 on modernising the liquidity policy framework is now expected in the first quarter of 2027, not the fourth quarter of 2026 as originally planned. The regulator said it will account for this when finalising the proposals, including the timing of implementation.
The Bank of England Banking taxonomy v4.1.1, a corrective update addressing technical defects, takes effect on 1 January 2027. The Insurance taxonomy v2.2.0 introduces the new MALIR reporting framework and applies to reporting reference dates on or after 31 December 2026.
On its Annual Report 2025/26, published 25 June 2026, the PRA said no comments or representations were received by the 25 September 2026 closing date.
When does the captive insurance consultation close?
The consultation on a tailored regime for UK single-parent captives closes on 14 October 2026. A summary of the 17 September 2026 industry roundtable was published alongside the proposals.
Sources & further reading
- PRA Regulatory Digest – September 2026 ↗bankofengland.co.uk
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