RPC survey unveils shocking bill

UK general insurers spend about 1% of their gross written premium (GWP) to meet tough regulations, according a survey by Reynolds Porter Chamberlain (RPC).

Solvency II alone has hiked insurers’ compliance costs 75% over the past three years, according to the Financial Times, while some insurers’ compliance bills were increased 400% by the capital requirements.

The RPC survey only accounts for direct costs of regulations, such as wages for compliance staff. It does not include costs for legal and accountancy advice, for example.

 

 

The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

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