This report reviews regulatory updates in May for life insurance companies in Europe. We note items published by the European Insurance and Occupational Pensions Authority (EIOPA), European Supervisory Authorities (ESAs), Financial Conduct Authority (FCA), and Prudential Regulation Authority (PRA). Details include:

• ESAs publish materials for dry run exercise to support implementation of the Digital Operation Resilience Act
• EIOPA publishes the results of its Peer Review on the supervision of the Prudent Person Principle under Solvency II
• FCA’s executive director delivers speech on Consumer Duty implementation
• PRA publishes PS8/24, “The PRA’s approach to the authorization and supervision of insurance branches”