This report examines the key regulatory updates in December for life insurance companies in the United Kingdom and Europe. We note items published by the European Insurance and Occupational Pensions Authority (EIOPA), Financial Conduct Authority (FCA), and Prudential Regulation Authority (PRA).

Key developments include:

• EIOPA launches two consultations on draft revised guidelines on group solvency calculations and reporting.
• EIOPA publishes new guidelines on exclusions from group supervision, related undertakings, and the assessment of internal models.
• FCA publishes two insurance updates, and simplified insurance rules and plans.
• FCA, alongside members of the Financial Services Regulatory Initiatives Forum, publishes "Regulatory Initiatives Grid".
• PRA publishes supervisory statement 5/25 and policy statement 5/25: “Enhancing banks’ and insurers’ approaches to managing climate-related risks”.
• PRA publishes consultation paper 22/25, “UK Solvency II reporting and disclosure: Post-implementation amendments”.
• The PRA and FCA publish "Mutuals landscape report".