On Thursday, 14 January 2026, at the annual Biba (British Insurance Brokers Association) Manifesto launch held in the House of Parliament, Lisa Sturley, Head of Insurance at the UK’s Financial Conduct Authority (FCA), announced a fresh approach to working with the insurance sector. Speaking to an audience of industry leaders and policymakers, Sturley emphasised, “It is time to connect, time to engage, time to support – and I would add one more: it is time to evolve.”
Sturley outlined the FCA’s commitment to becoming a ‘smart’ regulator. “This means setting clear expectations, reducing unnecessary requests, and conducting our supervisory activities in a coherent and consistent manner. We are modernising our oversight model to make it more predictable, purpose-driven, and forward-looking,” she explained.
Highlighting practical measures, she added, “Through our annual market report, we are making priorities clearer, reducing unexpected correspondence, and providing firms with more targeted opportunities for communication. This ensures our approach is both supportive and effective.”
The Biba Manifesto for 2026, launched alongside Sturley’s address, included several calls to action for the FCA:
| Key Area | Biba Recommendation |
|---|---|
| Regulatory Simplification | Continue the process of simplifying insurance regulations |
| Reporting Obligations | Streamline reporting requirements and compliance procedures |
| Broker Support | Enhance efficiency and capability of insurance brokers |
| Member Feedback | Collect nationwide member input to inform policy decisions |
Sturley noted, “The theme of Biba’s 2026 conference is ‘Time To’. We wholeheartedly agree – it is not only time to connect or provide support; it is time to embrace change.”
She further elaborated, “This year, the FCA is focusing on making its supervisory activities more modern and relevant. By doing so, we aim to strengthen market confidence and contribute to a more resilient insurance sector.”
Biba has also engaged in extensive nationwide consultation with its members, revealing that improving broker efficiency is the sector’s top priority. As a result, the FCA and Biba are working in tandem to foster a more innovative, effective, and integrated industry.
Looking ahead, the partnership between the FCA and Biba in 2026 aims to simplify regulations, enhance operational efficiency for firms, and establish a stable, modern supervisory framework fit for the future of the UK insurance market.