The London Market Group (LMG), a collective body representing the specialist commercial re/insurance market in London, has published the results of its second Regulatory Sentiment Indices.
The data shows a clear improvement in how firms view the performance of the UK’s two key financial regulators: the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA).
The survey captured the opinions of 100 senior professionals leading compliance and risk functions at insurance and broking firms operating in the London Market. Respondents reported a significantly more positive view of regulatory performance over the past year.
The FCA’s Sentiment Index rose by 20 points, reaching a high score of 91 out of 100. Meanwhile, the PRA saw its rating increase by 12 points to 73 out of 100.
Caroline Wagstaff, CEO of the London Market Group, 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 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.”
The survey was independently carried out by Opinion Matters between 8 and 13 May 2025. It involved 100 firms, with an even split between those regulated by the FCA and those under the PRA.
Among FCA-regulated participants, responses were balanced between underwriting and broking businesses. The question set drew on themes from the FCA’s and PRA’s own feedback tools, adapted to ensure consistency and reliability in the results.
