Statement
LIST 2025 was an important milestone for the PRA in assessing and explaining the resilience of UK life insurers’ financial positions under Solvency UK, using a combination of firm-specific and aggregate sector disclosures for the first time. The PRA remains committed to regular life insurance stress testing exercises as part of its ongoing supervision of the life insurance sector, building on the approach taken within LIST 2025.
The PRA will engage with stakeholders during 2026 to reflect on any lessons learned from LIST 2025 and to use this feedback to inform the design and set-up of the next life insurance stress testing exercise. This stakeholder engagement will include discussions with participating firms and wider users of the stress testing disclosures. This will help inform how best to build on the approach taken during LIST 2025, including to respond to any simplifications or limitations within LIST 2025, or to reflect how sector risks might evolve.
The PRA intends to launch the next LIST exercise in January 2028. The PRA expects to provide further details in 2026 Q4, including on any changes in the scope or methodology of the exercise, and confirmation of likely firms in scope.