This report reviews regulatory updates in March for life insurance companies in Europe. We note items published by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA). Highlights include:

• The FCA publishes review of firms’ treatment of vulnerable customers and whether the agency’s existing guidance remains appropriate.
• The FCA launches a market study into how well the distribution of pure protection insurance products provides fair value to customers.
• The FCA publishes a statement on sustainability regulations and UK defence.
• The PRA publishes a Public Working Draft on insurance liquidity taxonomy.
• The FCA launches a five-year strategy aimed at supporting growth and improving lives.
• The FCA outlines the next steps on Consumer Duty rule review.
• The FCA’s chief executive delivers a speech on connecting consumers, products and growth.