Regulated firms report FCA and PRA performance improvement – LMG

Insurers and brokers operating out of the London market have reported an improved performance from the sector’s regulators, the FCA and the Prudential Regulation Authority (PRA), according to new research published by specialist commercial (re)insurance trade body the London Market Group (LMG) today (31 July 2025).

The Regulatory Sentiment Indices, now in its second year, polled 100 London market-based compliance and risk professionals employed across 50 PRA regulated firms and 50 FCA regulated companies between 8 and 13 May 2025, using a question set that is based on regulators’ own feedback forms. The survey consisted of around 14 questions.

Of the respondents regulated by the FCA, there was an equal split between broking and underwriting businesses.

The results of 2025’s indices – which are designed to collect broker and insurer sentiments towards and views on the two regulatory bodies – revealed that the FCA’s sentiment index has improved by 20 points year-on-year to reach 91/100, while the PRA’s index score improved by 12 points between 2024 and 2025, to total 73/100.

‘Ensuring accountability’

Speaking on these results, LMG chief executive Caroline Wagstaff said: “It is great to see that the service delivered by both regulators has taken a significant step forward over the past year.

“By directly surveying the firms regulated, we have been able for the first time to quantify and benchmark their performance in the eyes of the specialty insurance market. This is the second survey [we have completed] and we will repeat it annually, feeding results back to the regulators and the wider market.

“The LMG has advocated for metrics as a way of tracking the focus on growth and competitiveness by the regulators and believes that measuring performance helps to ensure accountability and to highlight areas where the regulators are succeeding, as well as the areas requiring increased focus in future.”